5 Tips on How to Handle Sudden Wealth

Whether you just signed a multi-million dollar contract or inherited property from a wealthy relative, here are some tips to help you keep—and grow—your wealth responsibly

1. Count the money. Take the time to add up the money for yourself. Sit down and carefully read every piece of paper associated with the windfall. There will be lots of legal gobbledegook and fine print. Read through it all. Highlight areas you don’t understand. Use the Internet to research terms and entire phrases. By doing this homework, you will be better prepared for the next step.
Pages: 1 2 3 4 5 6
ACROSS THE WEB
  • Lexe

    Another important step is to set aside a sum as “mad money”, at the very beginning, that you can spend however you wish. This will relieve some of the pent up desire to spend.