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 man don't need to run his late father's textile company by himself, he can employ professionals in the industry who have good reputations in the industry. His day to day physical presence is not necessary if he has capable and trusted management to run the textile company. If his interests is in other types of establishments, then he can pursue his dream and find time to overseeing his late father's textile business. But the clause is finding trusted people to run the textile business, if he doesn't find capable professionals to run it, then he can either make compromises and manage the company himself or sale it if what he wants to go into looks promising.