Find yourself with a one-time cash injection or a monthly boost to your budget? Learn spending, saving, and investing dos and don’ts that come with your sudde
It may be the real American dream: a monetary windfall drops square in your lap. Maybe it’s an inheritance from that ridiculously rich aunt you never knew, or simply the budget bonanza scored when you finally get all the kids out of daycare.
You pinch yourself to make sure it’s real. Then you panic. What to do now?
David Blaylock, a LearnVest certified financial planner, warned that poor money planning—for athletes, celebrities, and lucky schmucks like you—can accelerate the path from riches to ruin.
Instead, he said, “Approach a windfall as something that can remove pressure from your current situation,” not necessarily change your life overnight.
Here’s a to-do list—and an equally important not-to-do list—to help you consider how best to nurture your newfound bucks.
Need answers to your pressing money questions? Let our Investment Consultants help you improve your fiscal fitness.
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