- Hardcover: 336 pages
- Publisher: Wiley; 1 edition (April 7, 2000)
- Language: English
- ISBN-10: 0471380865
- ISBN-13: 978-0471380863
- Product Dimensions: 6.4 x 1.1 x 9.4 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 40 customer reviews
- Amazon Best Sellers Rank: #244,070 in Books (See Top 100 in Books)
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Sudden Money: Managing a Financial Windfall 1st Edition
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Susan Bradley, a certified financial planner for nearly two decades, designs and presents programs for those who reap a financial windfall. Since any such gain is relative, she says, this literally happens millions of times each year as people abruptly find themselves facing the pecuniary impacts of everything from a death or divorce to an insurance settlement or winning lottery ticket. In Sudden Money, she addresses critical considerations in a straightforward, step-by-step manner that should prove useful to anyone on the receiving end of such a fiscal boon. Her core advice: develop realistic long-term plans with help from a knowledgeable advisor who can steer you through technical obstacles and point out particulars that you might otherwise miss. To assist, she discusses relevant details and outlines specific actions in sections focusing on three interconnected aspects of the process: carefully charting overall goals, which should begin with a reflective period after first learning about the bonanza; judiciously selecting investments that will produce desired results; and firmly establishing systems that keep everything on track. There also are individual chapters dealing with the eight most common sources of "sudden money," including inheritance, retirement, and the exercise of stock options. --Howard Rothman
From the Back Cover
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 itand your newfound moneysuccessfully.
Whatever the sum involved, the impact of ones emotional state on the way money is handledor mishandledcannot 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 "owners 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
- 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 recipientand 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 detailedin an easy-to-apply waya 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. Its 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 Bradleys book is a sensible guide on how to handle instant wealth."Jennifer Openshaw, CEO, WFN.com, Financial Network for Women
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If this is a book you want after reading the reviews here, I strongly advise you get the printed edition rather than the Kindle edition.
Attorney when deciding between a Lottery Lump Sum or a Thirty Year Annuity. Susan Bradley cfp and Don McNay have been very helpful.