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.
First of all, loosing a parent is never easy and receiving a huge amount of money at that age can be overwhelming. My advice is to put the money away in a fix account or something, focus on your education, give yourself a couple of years to think about what you want to do while in school though. Millions in the hands of an 18yrs old is a bad idea because you can be easily influenced badly by friends, surround yourself with trusted friends and family, don't just make friends with your age mates, make friends with men that are way older than you because they have experience and they will teach you values, principle and how to handle your millions when you are ready.