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.
I don't really understand the business but if a child is not taught to do business before being trusted to manage it then the business that is run will not necessarily be successful.
He is not interested in the business left by his father and it is certain that he will not be so interesting to develop it.
We also need to know his educational background so that we can have more information that we can discuss, it would be good for every parent to teach education in running a business so that when he is gone the child will be much easier to develop.
Expertise will determine the level of success of the business left by his father and if his ability is not there then it is impossible for the business to grow much more because there will be competitors who try to beat his business to become less developed.