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Don't give her advice unless she asks for it. She will just end up resenting you for it.
If its a very large some say over a hundred thousand. I would tell her to consult with a financial advisor on placing some of the money in investments that generate interest. So much interest that the money she inherited will keep her financially set by living off the interest of that money alone. If I won the lottery thats what I would do.
Don’t intervene unless asked, my advice, stay out of it, you might get a good independent financial advisor to call her keeping your details confidential. That way you will be an outsider and she will get professional advice that can be trusted. She can only benefit from it.
Tell her to spread the love and let me hold on to some of it for her I know what to do with it. A burden like that shouldn't be placed on just one person.
ask her if she has any plans.
or if she thinks she needs outside advice.
or just say, you can help her out with help.
buy cheap property in a small town.
..... DONT!!!
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You're reading One of my best friends received a large inheritance. What's the best approach to use when giving her money advice?
Comments
great answer. could have not said it any better myself.
by Anonymous on July 11th, 2006