Submitted by [deleted] t3_11gzhpn in personalfinance
edit: thank you for the responses! there’s so many that unfortunately i’m not sure if i can get to them all. as for now, i have more than enough advice, so don’t worry about commenting unless it’s information that hasn’t already been stated as i’d hate to waste your time. thanks everyone ❤️
my dad passed away when i was 11 in 2015. i’m 18 now. i was left with around almost 300k. a lot of older people might think “wow, what a lucky young girl! better not spend it and instead invest it into XYZ stocks!”. i haven’t spent it on anything major and have kept it to myself for all of my teenage years.
of course i am extremely grateful that my dad got life insurance, but at the same time, this amount of money seems terrifying to me. due to the inflation spike that happened around COVID, it’s made me have the sudden realisation that if i don’t invest my money, it’ll slowly crumble away.
i saw a financial advisor with my mum last year and all it did was make me feel worse. i was handed thick, stapled sheets of paper filled with dotted lines and questions, and i felt like it was all too much for me to bare. i felt too scared to ask the questions i wanted to ask, and felt like he didn’t explain things well as i’m sure he’s probably used to older clients. i only went to 2 appointments and stopped going after that as everything just felt so out of touch with my situation.
can somebody please give me honest advice to somebody who’s young and doesn’t know what they’re doing? i’m from Australia as well by the way.