To get involved or not?

[LiJo2015]

A close family member has tried to get their business to work, but after nearly a decade, it continues to lose money. I know they have already lost in excess of 100k in trying to make it work.

I want to say something - just to open up the conversation. They are currently paying ALOT of money for a life coach (which is another conversation) when really I think a personal therapist would be better suited.

So AIBU to say something or AINBU to say something.

Chances are they already know how much trouble they’re in and you saying something may end up with them taking it out on you. I wouldn’t say anything

Agree with pp but could you ask an open ended question like how are you feeling? How are things going? And really give them the chance to open up and then perhaps it might be a way to support them

Oh blimey! Must be very hard to watch that. Can they afford this loss? (Might seem a silly question but I know someone wealthy who runs a business that barely if ever makes money but they love telling people they own a business, and can take the hit).
Life coaching is not a regulated profession and if you are coaching someone who is pursuing a course of self destruct and you don't help them see that/change it you aren't exactly a shining light of your profession. In a way calling them out on that would be tempting, but impossible to do without going behind your relatives back which would be a nightmare.
I think it boils down to your relationship with them, are you close enough to be able to raise this without them asking for advice? If not who is? If they manage to turn it around would the loss be recoverable?

@fourandnomore

I ask frequently as in general conversation. I feel the answers are minimal and guarded.

The spouse (trying to be careful with using pronouns to minimise outing) has a tendency to just let them get on with it and is pretty clueless about money coming in and out as the business owner deals with the money.

@PieceOfString

They have a buffer, but this isn't a bottomless pit.

They have a changed stage on what the business actually offers at least 3 times, and each time this just fuels them trying for longer.

I feel really uncomfortable that they are using a life coach and from what they are saying, the life coach is not pointing out the pitfalls and realism of the situation , but instead is just encouraging them to just keep at it.

I can't think how you could intervene in a way which wouldn't just blow up in your face. You have already nudged at the door for a conversation about it and clearly the vibe is to shut that down not reach out or see the writing on the wall.

Some people do make a royal mess of things and rue the day, but also won't be saved from that because they won't see it until it's too late. I sympathise, like watching a car crash in super slow motion.