29 of 31 people found the following review helpful
An excellent first step to the experience,
By A Customer
This review is from: Sudden Money: Managing a Financial Windfall (Hardcover)
As a recent sudden money recipient, I found the book to be a very good initial exposure to the flood of feelings and responsibilities associated with my windfall. While I won't deny that extensive research remains to be done on the subject, the book is written clearly and simply enough to help even the most unfamiliar reader as to the path that lies ahead. Readers are likely to find that a great deal of the book does not apply directly to them, but they should be examined anyway....along with the specific sections pertaining to their unique situation.
I would have liked to see more information regarding tax implications, and clearer instructions as to finding a CFP specializing in this area. All in all, however, the advice was invaluable, if only to reinforce what I already suspected and to explain why I felt as I did during the process. My two bits: do not underestimate the value of the DFZ (decision-free zone) as a first step!
From firsthand experience, I'd recommend that the chapters on winning the lottery be excerpted and made required reading for all winners before they're allowed to cash that check!