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.
The young millionaire should think of investment as that is the best way forward moving forward because it is what is going to sustain the money even if the young millionaire is not interested in the same line of business as the father he should look for another type of business where he is familiar with and invest into it because at that age there are allot of temptation among the youths and the tendency to sconder the wealth is there as youths that age will like to party and waste the money involved