Post
Topic
Board Economics
Re: Financial Advice for a young millionaire
by
Oluwa-btc
on 23/02/2025, 17:56:35 UTC
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 have seen some young ones that got this priveledge of  having so much wealth in their possession but firstly what I would advice it's he completing his education and while doing so the business can be run by an experienced individual and he gets every information about how everything is going, then possibly after graduating he can decide to take over or better still go further in his education but most importantly he needs a trusted fellow to handle the affairs of the business while he's away and learning.