Yeah, try to ignore the fact that it's money; imagine it's some other asset the person wants to keep, like 100 ponies.
You would definitely suggest reading up on how to successfully keep ponies, right?
You would definitely suggest reading up on how to successfully keep ponies, right?
It's a smart thing to do learn money-management at any point of your life, even more with a sudden windfall like this. The OP seems like a straightforward guy who isnt really interested in money hence this post.
So it's up to him what kind of impact he'd like to have to the world around him. If you really get down to it there's no wrong or right way to proceed. To maintain that wealth he should definitely learn how to manage it. To spend that money on things he deems important he probably doesnt need to learn much money-management.
Wisest thing in my mind, and what others have suggested, is to wait and ponder what he really wants to do in life. Maybe read some money-management books, sure. To see if it's any interest to him.
This is a false statement. In fact, it is false ipso facto.
In this case, selling the ponies and do something they like with the money.
Or selling some ponies, and pay someone to take care of the rest and make them reproduce/sell them, so that you can live with the pony-benefits.
It might not be optimal pony-wise, but it definitely makes more sense life-wise.