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Sudden Money

Money, Being Uncool and Happiness

Don McNay | Posted 04.14.2014 | Fifty
Don McNay

People blow through their money trying to be cool. The words "rich and famous" are often used in conjunction. The rich and famous are supposed to be cool. Thus, when someone gets a large sum of money, they think it's an automatic ticket to total coolness.

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.

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.

Advice for the Unknown Lottery Winner

Don McNay | Posted 05.25.2011 | Business
Don McNay

After having overcome trillion-to-one odds, the idea of running through the money would seem silly to most winners. However, studies shows that 90% of people blow all their money within five years of winning the jackpot.

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.