Quote from: Moreno233 on June 22, 2024, 07:13:39 PM

Quote from: boyptc on June 21, 2024, 09:59:13 PM

Quote from: Lantind on June 21, 2024, 12:18:19 AM

Those who get money easily will of course find it very difficult to manage it well so for them of course they really need a financial advisor to be able to help them manage their finances well so they don't spend it on things they don't need because if they don't use a financial advisor with their money what they have, of course this will be very unfortunate because it is very difficult for some people to manage their money well and for those who have experience in managing their finances well, it will certainly be easier for them to manage their finances.

A person that have just received inheritance will certainly have hard time for it. But if his dad is too wise at all, he'd be welcomed to his company when he's still young and got taught on how the operations were done.

And then aside from that, he'd able to get some tips on how to spend money.

If not, then that's the best that he can do and that's to get a financial advisor.

There is a popular practice in my country among the rich families in which they start teaching their children their line of business at a very tender age to prepare them to take over when they are done with studies. Even though all their heirs might not follow the same line of business, there must be someone to continue the family legacy and such is nurtured from a very young age and trained in school in line with the type of family business. This will ensure the family's wealth is protected and always transferred to the next generation and this practice is the reason some families are always rich from generation to generation.

There are even some strict families who will force their children to learn business management from an early age. Many children may still be going to school every day but still have the ability to take over the family business at any time, and that is how families with a business tradition raise their children.

So let's not rush to give advice or judgments without clearly knowing the situation of the person the OP is talking about. Perhaps before his father passed away, he passed on all the knowledge about business to him, and perhaps he is a thousand times better than us in financial management and business operations. Don't underestimate him just because he's young and don't forget that he comes from a business family.