Sudden Money: Managing a Financial Windfall

ISBN-13: 9780471380863 / Angielski / Twarda / 2000 / 336 str.

Susan Bradley; Mary Martin

Opis

From inheritances and divorce and insurance settlements to retirement payouts and the most recent phenomenon of stock options, the largest transfer of wealth in the history of America is now taking place. For some, this welcome event is relatively stress-free. But for those who are inexperienced in dealing with large sums of money, a windfall can be an overwhelming, even losing, situation. What is the difference between those who build on their financial gains and those who end up worse off than before? In this much-needed, one-of-a-kind book, top financial planner Susan Bradley gets to the heart of the matter by examining the emotional complexity of the windfall experience and how to manage it-and your newfound money-successfully. Whatever the sum involved, the impact of one's emotional state on the way money is handled--or mishandled--cannot be underestimated. In addition to the legal intricacies of receiving sudden money, the element of surprise that catches people unprepared also often leaves them there. Here, at last, is a type of "owner's manual" to sudden money that demystifies the process for recipients and their financial planners. Based on her work with countless clients, many of whose stories appear in this book, Bradley has developed a step-by-step program for moving safely through the three phases of building a solid financial foundation:

• Preparation and Planning
• Investing
• Monitoring, Giving, and Sharing

Giving individual attention to each possible windfall event, Bradley addresses their distinct tax consequences, insurance and estate planning considerations, as well as the crucial emotional component. She also shares advice on how to put together the proper team of advisors, including an attorney and a therapist. When correctly handled, an unexpected windfall can provide expected benefits that will continue far beyond the lifetime of the initial recipient---and turn sudden money into lasting wealth. Turn Sudden Money into Lasting Wealth Maximize your wealth and minimize your stress and confusion with this unique, indispensable guide to handling a sudden financial windfall. Written by nationally recognized financial planner Susan Bradley, Sudden Money provides a complete program for successfully 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 with easy-to-implement, proven ways to ensure that your financial gains are more than fleeting good fortune. "A 'must read' for financial advisors and for clients who have received financial windfalls. Susan Bradley has detailed--in an easy-to-apply way--a new financial planning discipline that is sure to become a vital part of discussions about the burgeoning wealth in this country."
--Ronni Burns, Wall Street consultant "This book is essential for anyone who receives a financial windfall. It's an easy read and packed with useful advice."
--Don Phillips, CEO, Morningstar "Reading this book is like having a trusted friend explain what to expect, what to do, and what not to do at a happy time that can also be overwhelming and stressful. This book has been extraordinarily helpful to me."
--Marci Shimoff, coauthor, Chicken Soup for the Soul "Women in particular are often ill prepared to manage a financial windfall. Without careful planning, it could turn into a pitfall. Susan Bradley's book is a sensible guide on how to handle instant wealth."
--Jennifer Openshaw, CEO, WFN.com, Financial Network for Women

Spis treści

What is Sudden Money?

The Three Phases of the Sudden Money Process.

PHASE ONE.

The Decision Free Zone: What It Is and How to Handle It.

Feeling Your Windfall: The Chute of Emotions.

Search for the Right Financial Planner.

Goal Setting.

The Reality Check.

PHASE TWO.

The Risk/Reward Relationship.

Stocks.

Bonds.

Mutual Funds.

PHASE THREE.

Staying on Track.

Estate Planning: Transferring Your Wealth to the Ones You Care Most About.

Giving and Sharing.

THE SUDDEN MONEY EVENTS.

Inheritance.

Stock Options.

Divorce.

When Two Become One.

Insurance Settlements.

Winning the Lottery.

Athletes and Entertainers.

Retirement Benefits Package.

Appendices.

Index.

O autorze

SUSAN BRADLEY has been a Certified Financial Planner for nearly twenty years. She is the founder of The Sudden Money(TM) Center, a research and education company in West Palm Beach, Florida. She speaks, gives seminars and multi–day workshops, and trains financial advisors in the Sudden Money Process. She also designs Sudden Money programs for families, financial service companies, law firms, and corporations.

MARY MARTIN, PhD, is a writer living in Palm Beach, Florida. She received her doctorate in applied linguistics from New York University and has been writing and developing curricula for over a decade.