When a parent retires with millions, you’d think the hard part is over — the saving, the hustle, the endless what-ifs of the market. But for one 27-year-old, the hardest part has been watching his father unravel it all.
In a post shared to the stocks subreddit, the son said his 68-year-old father retired comfortably over a decade ago after selling his business. He had built a strong enough nest egg to live off 3%–4% returns with no problem. Instead, he began aggressively investing in individual stocks — and eventually took out a $2–3 million loan to buy even more.
“He’s taken a nearly $2–3 million dollar loan to invest into more stocks,” the son wrote, adding that while half of it has been repaid, $1.6 million remains outstanding.
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That might be manageable — if the portfolio were strong. But according to the post, the dad is mostly holding individual stocks that are down 80%–90%, some of which have been delisted. A large position in GoPro, still held since 2015, is deep in the red. Another heavy bet on Actinium Pharma dropped nearly 90% after failing to receive Food and Drug Administration approval. There’s also a long list of high-fee mutual funds that have “barely made meaningful returns.”
“I was able to get hold of his spreadsheet recently to properly review his financial situation and it’s extremely alarming,” the son wrote. “He’s holding 70+ individual stocks, mostly losses. 10+ mutual funds, mostly losses.”
The two have had several conversations over the past year. The son said he built and presented two separate slide decks outlining the risk, recommending a complete portfolio trim and a reallocation to index funds, bonds, or at least more stable blue-chip stocks.
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Still, his father won’t sell. “He has massive sunk-cost fallacy and refuses to cut his positions. He wants to wait another 6 months despite having held some of these positions over a decade.”
The original post ends with a question: How do you convince someone — especially your own parent — to stop gambling?
Commenters didn’t sugarcoat it.
“It’s a gambling addiction. Without therapy this isn’t going to change. There is nothing you can do,” one wrote. Another added, “A $2–3 million loan isn’t ‘having fun.’ He has a gambling problem.”
Several others echoed the futility of trying to guide a parent’s financial behavior. “Realistically you can’t expect parents that age to change behavior,” one person said. “Feedback, especially from their own kids, is often dismissed.”
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Some commenters offered more empathetic takes. “He definitely seems embarrassed about his losses and doesn’t want to admit he made some poor financial decisions,” someone suggested, recommending a nonjudgmental approach and softer language when discussing the topic.
But the general tone was resignation: you can give advice, but you can’t make anyone take it — especially not someone who sees their choices as a path to redemption or recovery.
“I’m appalled at how bad the damage is,” the son wrote. And it’s easy to see why. His own investing strategy is grounded: 50% ETFs, 30% high-yield savings, 20% retirement accounts. He’s debt-free and planning to retire in his early 40s. Meanwhile, his father’s retirement — once fully funded — is hanging on a dwindling list of penny stock duds and the weight of a seven-figure loan.
Although he can’t force his father to change, he’s not wrong to try. But the line between helping someone protect their future and trying to rescue them from themselves is thin — and often, painful to walk.
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