I hope you don't stop investing in MF. What you did wrong is poor asset allocation decision. I am expecting your dad got 60% of annuity. if was in such a place. I would
1. Put 60% of that amount in post office at 6.57%. 1/n https://twitter.com/Clemenza2020/status/1299531517950001153

2. Never touch the money in point 1, it will be there for 5 years and than you can reinvest in the same scheme for next 5 years so on.
3. The 40% of that I would put in nifty50 index funds and let it grow till next 10-15 years. You can book profit time to time if you like. 2/n

4. If you like contribute to the point 3 from the money your father saves at the end of the month, do it.

Disclaimer: I am not an advisor or planner.
I faced the same thing with my uncle.

End thread. 3/n