Quote from: iBaba on April 17, 2024, 08:30:18 AM

What financial advice would you give to a young boy, probably, at the age of 18 who just received a whole lots of money from the inheritance of his late father who was a trader and multimillionaire in the textile industry?

The boy is the only child of the widower and does not seem to be interested in the same line of business and even when he does, he requires more maturity to be able to manage the business such as graduating from the college, etc.

Truth be told, I have never been a millionaire, so I can't give advice to one, young or old. None of the people here are millionaires neither, unless proven otherwise, so getting advice from people who have never experienced this, will not be a good advice at all. I think the best thing we could talk about here would be just what we are lacking and what a millionaire may not lack.

For example I lack time, the 24 hours in a single day isn't enough for me, because I face so many issues all at once. Just today, literally since I woke up and it's barely noon, I had to wake up, take my dog to vet, because it needed shots, I had to take it for a walk, I had to go to hospital to sign some financial documents, and I came back home and started working on my job, all within 6 hours since I woke up. If I had more money, I would have probably find a way to make myself more time, by delegating some of the tasks to someone else.