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Sudden Wealth

Sudden Wealth From the Sale of Your Business?

David A. Dedman | Posted 08.27.2014 | Money
David A. Dedman

Sooner or later every business owner wants to retire or just sell his business. For a business owner this is a huge life event. Some are very sure of their decision, while others can be hesitant.

Sudden Wealth From a Property Sale?

David A. Dedman | Posted 08.07.2014 | Money
David A. Dedman

A Life Event is a milestone that happens that can cause your life to change, as well as your financial life too. Often resulting in sudden wealth.

Sudden Wealth From a Life Event?

David A. Dedman | Posted 07.17.2014 | Money
David A. Dedman

So when I picked up a recent call, I braced for impact! Some calls are really weird, other times someone is soliciting my business. This call wasn't a question about investing either.

5 Must-Follow Office Lottery Pool Rules

Robert Pagliarini | Posted 02.17.2014 | Money
Robert Pagliarini

If you play Powerball or Mega Millions in an office lottery pool, you should be forewarned. If you are lucky enough to win, you may be unlucky in litigation. Many office lottery pools are not structured correctly.

Why Some Lottery Winners Curse Their Big Win

Robert Pagliarini | Posted 01.23.2014 | Business
Robert Pagliarini

One of the best ways to feel in control of the money rather than be controlled by the money is to get very clear on how much you have, where it is, how much income it will produce, and to develop a strategy for responding to loan requests from friends and family.

6 Tips to Cut Your Income Taxes After a Windfall

Robert Pagliarini | Posted 11.05.2013 | Business
Robert Pagliarini

The money you get when coming into sudden wealth, whether through a lawsuit settlement, business sale, entertainment or sports contract, or stock options, can disappear in a hurry if you don't manage federal and state income taxes correctly.

Lottery Winner? 6 Things to Do Before You Claim the Prize

Robert Pagliarini | Posted 07.28.2013 | Business
Robert Pagliarini

Winning the lottery is a unique sudden wealth event that requires several immediate decisions. Here are six things you should do before you claim your lottery prize.

How to Spend Your Inheritance

Robert Pagliarini | Posted 06.25.2013 | Business
Robert Pagliarini

Inherited money has its own unique challenges unlike other forms of sudden wealth. As a financial planner who specializes in inheritance planning and working with clients who come into money suddenly, I have seen what works well.

Why We Blow Our Tax Refunds

Robert Pagliarini | Posted 06.04.2013 | Business
Robert Pagliarini

Each year about half the country gets to experience a "sudden wealth" event in the form of a tax refund. While not necessarily a financial windfall for most, this annual occurrence can create some awfully strange and counterproductive behavior.

An Investment That Beats the Dow Jones Every Time

Robert Pagliarini | Posted 05.14.2013 | Business
Robert Pagliarini

Focus on improving your skills, getting additional designations, and becoming more valuable. What skills can you learn that will make you more valuable? What's that one thing that you really need to get to the next level? Is it an MBA? Is it your insurance license? Is it a designation? Maybe it's not such a clear goal.

Sudden Wealth and Lottery Winners: Six Steps for Handling a Windfall

Robert Pagliarini | Posted 01.29.2013 | Money
Robert Pagliarini

There are usually significant and unique financial, tax, and emotional issues that, if not addressed, can cause the money to disappear almost as quickly as it was received.

Lyin' Eyes and Newfound Wealth

Don McNay | Posted 11.07.2012 | Money
Don McNay

The first thing I tell lottery winners, widows, widowers or others who come into large sums of money is to watch out for their family and especially for newfound "friends."

Too Much, Too Soon: How to Avoid Sudden Wealth Syndrome

Irvin G. Schorsch III | Posted 09.06.2012 | Money
Irvin G. Schorsch III

As with any life change, a sudden shift in financial status can be traumatic.

Michael Jackson, Elvis and Professional Hangers On

Don McNay | Posted 05.25.2011 | Business
Don McNay

Michael Jackson and Elvis died too young. They had the same handicap that many people with money acquire, the entourage.