Overview
From inheritances and divorce and insurance settlements toretirement payouts and the most recent phenomenon of stock options,the largest transfer of wealth in the history of America is nowtaking place. For some, this welcome event is relativelystress-free. But for those who are inexperienced in dealing withlarge sums of money, a windfall can be an overwhelming, evenlosing, situation. What is the difference between those who buildon their financial gains and those who end up worse off thanbefore? In this much-needed, one-of-a-kind book, top financialplanner Susan Bradley gets to the heart of the matter by examiningthe emotional complexity of the windfall experience and how tomanage it-and your newfound money-successfully.
Whatever the sum involved, the impact of one's emotional stateon the way money is handled--or mishandled--cannot beunderestimated. In addition to the legal intricacies of receivingsudden money, the element of surprise that catches peopleunprepared also often leaves them there. Here, at last, is a typeof "owner's manual" to sudden money that demystifies the processfor recipients and their financial planners. Based on her work withcountless clients, many of whose stories appear in this book,Bradley has developed a step-by-step program for moving safelythrough the three phases of building a solid financialfoundation:
- Preparation and Planning
- Investing
- Monitoring, Giving, and Sharing
Giving individual attention to each possible windfall event,Bradley addresses their distinct tax consequences, insurance andestate planning considerations, as well as the crucial emotionalcomponent. She also shares advice on how to put together the properteam of advisors, including an attorney and a therapist. Whencorrectly handled, an unexpected windfall can provide expectedbenefits that will continue far beyond the lifetime of the initialrecipient---and turn sudden money into lasting wealth.
Turn Sudden Money into Lasting Wealth
Maximize your wealth and minimize your stress and confusion withthis unique, indispensable guide to handling a sudden financialwindfall. Written by nationally recognized financial planner SusanBradley, Sudden Money provides a complete program forsuccessfully managing newfound wealth. Discover ways to:
- Stay calm and not make decisions based on your emotions
- Seek experienced, professional advice
- Avoid pressure from others
- Create and execute the best financial plan for you
Most important, Sudden Money provides you witheasy-to-implement, proven ways to ensure that your financial gainsare more than fleeting good fortune.
"A 'must read' for financial advisors and for clients who havereceived financial windfalls. Susan Bradley has detailed--in aneasy-to-apply way--a new financial planning discipline that is sureto become a vital part of discussions about the burgeoning wealthin this country."
—Ronni Burns, Wall Street consultant
"This book is essential for anyone who receives a financialwindfall. It's an easy read and packed with useful advice."
—Don Phillips, CEO, Morningstar
"Reading this book is like having a trusted friend explain whatto expect, what to do, and what not to do at a happy time that canalso be overwhelming and stressful. This book has beenextraordinarily helpful to me."
—Marci Shimoff, coauthor, Chicken Soup for theSoul
"Women in particular are often ill prepared to manage afinancial windfall. Without careful planning, it could turn into apitfall. Susan Bradley's book is a sensible guide on how to handleinstant wealth."
—Jennifer Openshaw, CEO, WFN.com, Financial Networkfor Women
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