QFG2 is time limited, but also very scripted in its story. As long as you do not use the Inn to waste time by sleeping away the days, you should have plenty of time to do what you need. I found that I had ample time to grind a magic user up to full in QFG2 (with some days to spare), though I did start with one that was mostly maxed from QFG1. In my case, I maxed out every non-zero stat, including all the combat stats. I skipped trying to max some utility spells that, as best I can tell from reading online, do not benefit from being at maximum (but do benefit from being above the level you get when you first learn them). Note that Q1 maxes out at 100 points, but Q2 maxes out at 200, so even if you grind to maximum in Q1, you have room to advance in Q2.
Gold transfers over, but not directly. You start Q2 with the money you earned in Q1, but none of the NPCs in Q2 accept Q1 money for buying items. You must find and visit the moneychanger, who will (for a percentage cut) take your Q1 money and give you Q2 money. Her cut is a function of how much money you convert in each exchange. The more money you exchange per transaction, the bigger her cut. There are two different desirable exchange sizes. One abuses rounding to minimize her cut (and maximize your money), but is very tedious. The other is less tedious, but still keeps her cut at the low end. The only time I found myself wanting for money was near the end of Q2, when I was trying to buy up as much as I could carry into Q3. Even so, I got what I needed.