₦airaland Forum

Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

First, he needs to clear his mind and stop chasing losses else, he might loose that 20m#.
The economy isn't stable yet and sme's are closing daily because of cost of production and maintainance cost.
For now, you can invest in existing established business through shares acquisitions or government bonds.
20m# is big in figures but when put to production, it's not really much. Don't be in a rush even though I understand you have family pressure.
Set aside some money for food and basic household need for the next 6 months while you focus on doing research on what's next.
If he rush and loose that 20m#, na suicide go be the next advice he go dey ask (God forbid)
There are many vampires out there ready to suck that money from him as soon as they smell it. They will sweet talk you and show you bogus evidence of business success but na wash.
Be careful and guided.

Holla911:
First, he needs to clear his mind and stop chasing losses else, he might loose that 20m#.
The economy isn't stable yet and sme's are closing daily because of cost of production and maintainance cost.
For now, you can invest in existing established business through shares acquisitions or government bonds.
20m# is big in figures but when put to production, it's not really much. Don't be in a rush even though I understand you have family pressure.
Set aside some money for food and basic household need for the next 6 months while you focus on doing research on what's next.
If he rush and loose that 20m#, na suicide go be the next advice he go dey ask (God forbid)
There are many vampires out there ready to suck that money from him as soon as they smell it. They will sweet talk you and show you bogus evidence of business success but na wash.
Be careful and guided.

Thank you.

So what are the options you think can as least give him monthly income enough to cater for the home front while he works on his financial stability?

Seems topics like this aren't meant for the Nairaland audience.

Procashtips:
Seems topics like this aren't meant for the Nairaland audience.

Just attach Toke Makinwa's name to it and watch it fly

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

When you are trying a build a new business from scratch you have to make sure you reduce your expenses and your consumption of luxuries to the barest minimum.

The first thing he should do is stop all activities that are not necessaries but tat take money out of his pocket eg club memberships, heavy spending on drinks and leisure, he may even have to move from where he is to a cheaper apartment (Except if his wife can comfortably pay the rent alone) so long as it will not impact negatively on his earning capacity.

In order to increase the probability of success in the new business he should start something along the lines of the skills and work experience he already has

SamuraiXXX:
When you are trying a build a new business from scratch you have to make sure you reduce your expenses and your consumption of luxuries to the barest minimum.

The first thing he should do is stop all activities that are not necessaries but tat take money out of his pocket eg club memberships, heavy spending on drinks and leisure, he may even have to move from where he is to a cheaper apartment (Except if his wife can comfortably pay the rent alone) so long as it will not impact negatively on his earning capacity.

In order to increase the probability of success in the new business he should start something along the lines of the skills and work experience he already has

Thank you

What would you do with the prospective fund in view?

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

Sell the asset. But do your due diligence properly


We rise by lifting others

"...........He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness".

What's the meaning of this, naa una dey kee una self. No assistance from the wife and she's working. I give kundusi for Africa men/simp. I no fit, all hands on deck first!

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

Just take a step.
Okkkkkkkkkkkkkkkkkkkkkkkkkk

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

If you have an asset that clear your Debt. Sell it and clear your debt.

When you are out of debt , you can think better and focus.

People lose every now and then , it’s not a new thing, what will make news is if you keep thinking about your loss and you die in the process.

AkhereOkaka:
Feeding 150k for family of four(including husband and wife) in present day Nigeria? please the story is fake I have no advise for you.


We rise by lifting others

150k per month isn't enough?

Lol... What are you eating? That's enough to get basic foodstuffs and every other little thing can be bought when needed. Y'all act like food is now gold in Nigeria.

Or wait first, where do you live in Nigeria? I think that plays a role as well.

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

Why is his wife not contributing anything at all to the home, when she's also an income earner?

She needs to carry the small financial burdens, like cost of cooking and so on.

Na these things dey quick kill African men. You're trying to carry everything on your head. Meanwhile your wife is saving her own income, using it to buy expensive wigs and sending money to her younger siblings.

If you check now, this man is most likely on medication for blood pressure

Cut down your living standards to meet the current reality. This Will give you a clearer mind to restrategize and bounce back.

The major assets of people who have at any point in their career earned that much is CONNECTION AND NETWORK. It is now time yo leverage the relationships you have built over the years... Reach out to people you have good reputation with, let them know you're open to new contracts, jobs even part time opportunities to help you stay afloat while you rebuild your wealth again.

Foolery will be retaining a rent of ~200k monthly, 150k for feeding, school fees of 350 every 4months and 100k monthly miscellaneous expenses as if you were getting inflow as before.

Unless you want to sell off the assets to maintain a lie for 4years and pray to God that something good comes out, and comes out quick

Sell the asset... Use part to start a business that can bring you income daily, weekly or monthly at last for the family to feed on and watch how you grow back stronger.

After paying your debt, I will advise you to take ₦10m from the money to the business you have been doing before, you hit the rock, but this time around, be vigilant and not enter fraudsters hands/ theft again.

The business you have been known for, would quickly bring you back to ur former level, far easier than complete new business or job, not even at 42.( to get new customers & trusts of people to do business with you, it would take a while)

Meanwhile, the remaining #10M if you can save 8 million in fixed deposit account for 2 years or you buy shares, but I prefer fixed deposit savings, the ₦8M would be money to fall back on, incase things go south again, and if you bounce back, you collect it after 2 yrs and add it to the investment.

The remaining ₦ 2M, you will be using that for family upkeep until things come back to shape.

NB. Meanwhile, I biliv your wife job is fetching enough money too,in other to assist you at home,you need her assistance during trying times, stop the mentality of, "you don't need wife assistance", not even difficult times, if not, you must move out from high rent to low rent house. Also, you cut down many expenses until you come back to your feet.

Stephen0mozzy:
Cut down your living standards to meet the current reality. This Will give you a clearer mind to restrategize and bounce back.

imagine 1m rent yearly. Money he would have use got land somewhere

Procashtips:
Thank you

What would you do with the prospective fund in view?

Fix deposit 70% of the money and use 20% for farming. Anyone that wants to survive this economy now should better produce or provide what people can eat. Let anyone not deceive you o, that's the only way forward now. Even if you have to get nafdac for locally made products, it's quite cheap. You can start selling them on amazon or etsy but you have to spend on ads

"Your next move matters more than your last mistake."
You blundered a piece?
Missed a mate?
Lost a winning position?

It happens — even to masters.

But chess, like life, rewards those who keep moving forward.
Don’t stare at the past — it won’t change.
But your next move?
That can change everything.

Reset. Refocus. Reclaim the game.

Because the best comeback begins
with the courage to make the next right move.

First you have lost your fortune from series of past financial mistakes and you can't afford to make any mistake or take unnecessary risk.

First – Get that 20M, And throw it into a low risk Mutual fund, then use whatever amount interest you get out of it every month-end to run the family, like the investment is running the family needs.


Secondly, Do a feasible study of the business you know how to do best or if you intend to boost this your current business, then go to the bank, take a loan of 5M using your 20Million Mutual fund investment as collateral, YES, banks allows MMF investment for collateral. Use that 5M wisely to kick start the new business or enhance your current busines.


NOTE: Since your wife works, she should compliment whatever you get out of the monthly interest to pay your kids school fees when due.

Now you have Rent to worry about.

Move to a low cost house and borrow externally to cover rent money when due, you can always get back the money from the MMF interest plus your wife support and pay back who lend you the rent money.

So with that 20M used wisely, and your wife support, you are secured, Now if you feel you don't want to take the risk of borrowing 5M loan, using your 20Million MMF as collateral, then close your current business and begin to use your car for Uber, you can still make minimum of 150k - 250k to support your family plus your 20m investment. If you don't have a car, Get an Uber car on rental.

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

You have to be sincere with yourself

Cut on your expenditure, the problem is not your income

This is copilot's advise for him:

This man’s story carries the weight of hard lessons, but also the seeds of a powerful comeback. With ₦20 million in hand and a clear resolve to restore order and dignity, he’s not starting from zero—he’s starting from experience. Here's how I’d approach it if I were in his shoes:

---

💰 Financial Stability: Build a Lean, Resilient Household

🧮 First, Budget with Precision
Let’s break down the annual household expenses:

| Expense | Monthly | Annual |
|---------------------|-------------|------------|
| Rent | ₦166,667 | ₦2,000,000 |
| School Fees (2 kids)| ₦200,000–₦233,333 | ₦2.4M–₦2.8M |
| Feeding | ₦150,000 | ₦1,800,000 |
| Other Expenses | ₦100,000 | ₦1,200,000 |
| Total | — | ₦7.4M–₦7.8M |

That leaves roughly ₦12.2M–₦12.6M as working capital.

---

🛡️ Emergency Buffer First
Set aside ₦3M as a safety net—no touch, no risk. This gives breathing room for 4–6 months if income stalls.

---

🏠 Consider Downsizing or Relocating
₦2M rent is steep. If he can find a decent place for ₦1.2M–₦1.5M, that’s an instant annual savings of ₦500k–₦800k. It’s not just about cost—it’s about flexibility and control.

---

🎓 Schooling Strategy
If the current schools are premium, consider reputable but more affordable alternatives. Even a ₦100k reduction per term per child saves ₦600k+ annually.

---

💼 Career Stability: Rebuild with Strategy, Not Emotion

1. Audit His Skills and Reputation
He’s a consultant—what niche does he own? What problems can he solve better than most? He should:
- Rebuild his LinkedIn and online presence with clarity and humility.
- Share lessons learned from past failures (without shame—this builds trust).
- Offer free webinars or write-ups to re-establish credibility.

---

2. Start Lean, Charge Smart
He should:
- Package 2–3 core services with clear pricing.
- Offer retainers or monthly service plans for predictable income.
- Avoid partnerships for now—solo control is key to rebuilding trust and rhythm.

---

3. Diversify Income Streams
With ₦5M–₦7M of working capital after household costs and emergency buffer, he can:
- Invest ₦1M–₦2M in a small, low-risk side hustle (e.g., mini importation, digital products, car hire, or POS business).
- Keep ₦1M for marketing his consulting work (ads, branding, website, etc.).
- Consider real estate fractional investment or treasury bills for passive income.

---

4. Network with Purpose
He should reconnect with past clients, mentors, and peers—not to beg, but to serve. A simple message like:

> “I’ve learned a lot through tough times. I’m back with renewed clarity and focus. If you or someone you know needs help with [his niche], I’d love to support.”

That kind of humility and strength is magnetic.

---

🧠 Mindset & Family Leadership

- Transparency with Wife: Not about asking for help, but sharing the plan. Unity builds peace.
- Teach the Kids: Age-appropriate lessons on resilience and gratitude.
- Faith & Routine: Daily structure, prayer/meditation, and journaling to stay grounded.

---

🧭 Final Thought

He’s not rebuilding a life—he’s redesigning it. With ₦20M, wisdom from scars, and a clear mission to lead his home with dignity, he’s in a better position than many who’ve never been tested.

If he wants, I can help him draft a personal comeback manifesto or a lean business plan tailored to his consulting niche. Would that be useful?

You need to be very careful so as not to blow that money but first you need to cut out all unnecessary expenses

Procashtips:
Thank you.

So what are the options you think can as least give me monthly income enough to cater for the home front while he works on his financial stability?

Are you ready to sell the asset without squandering it on online investment..

Even if you must invest just buy btc n hold the use the rest for investment

He/you can put the cash in a money market fund MMF like Axa Mansard while you think of what to do. 20million should give you around 300k interest monthly.

This is just while you research what business to do. Also start the business small and scale up with success and growth.

Wishing you/him the best.

Cut costs first. Rent and school fees should be trimmed to the barest minimum. A 1 bedroom out of town and public school. Village market and buy bulk.

Your wife and kids would resent your pragmatic approach. Show them the plan and let them know if everyone plays according to it you guys would be back in no time. You've got to really really be convincing with the strategy so they would play their hearts out for the team. Like how Inter team would kill for Jose Mourinho on the field of play.

Life is a gamble. We win some and lose others. The most important thing is to bounce back stronger.

You've got a second chance, so be strong, calculative(Not speculative) and smart.

You'll be fine

Firstly, like someone said above. Don't rush into any business with the converted 20m cash
For you to achieve such assets as a freelancer/consultant, it is not doing bad. Stick to that hustle and take at most 5m (if necessary ) to rebrand.

Try to reduce your rent to at most 1m annually, remember, if you go broke at that high brow area, you are coming to a trenches far lower than that of 1m accomodation
Also if you don't have traveling plans, start planning on getting your own building
As a family man you need it

Procashtips:
Almost 42 years
A freelance/independent consultant
With 2 children (Almost 6 and Almost 4)
Wife working.

Lost it all in bad collaboration, fraudulent investments, bad/wrong investments and also theft.

Got an asset that can give him ₦20m after debts are paid.
How does he bounce back with the above?

Rent is 2m annually
School fees is 300-350k termly.
Feeding ₦150k+ monthly
Others: ₦100k monthly


If you are in his shoes, what are you going to do?

He plans to be responsible for running the house this time around without relying on assistance from the wife to restore sanity/orderliness.

Advice him from the point of financial and career stability,

Your first task is to cut your expenses by 30 to 50%

Business you should never venture into
Transport,Production and any online business

Look for a shop in a busy area or a market where you will sell consumer products,I mean buy wholesale from the company and sell to retailers.

Catch phrase,cut your expenses to the barest minimum

Even with two children, life still toff like this.

Nna mehn....

Delay the sale of that asset by all means.

Becuase if that move failed everything is gone

Well You can try going abroad