How To Manage Sudden Money


Bangalore: What would you do if you won a lottery or inherited a business, or an estate or a life insurance benefit? Winning this big jackpot changes everything. A sudden influx of money can be overwhelming. For anyone who's ever dreamed of winning big, it's hard to imagine that hundreds of millions of money brings new challenges. Usually, there is a significant and a unique financial, tax, and emotional issues which, if not addressed, can cause the money to disappear almost as quickly as it was received. I am sure you don't want to be like the 2/3rd of recipients who lose their new-found wealth within 3 years. So whenever you get unexpected money just don't rush in on your impulse. Check with yourself what you should do with your money, do you need an advice from some expert because such a financial situation needs an altogether different kind of handling and care. Stay Ahead of Inflation
How To Manage Sudden Money
Regardless of the size of money that comes to you as a surprise, remember that you will need to have this money till the end. Even if you are investing in stock market and the market is not doing great and the stock values are not great, this financial risk is less when compared to the situation where your assets suffer if the rate of return on your investments does not keep pace with the rate of inflation. Inflation has averaged about 3 percent annually over the past 50 years. So save this money to keep you going even through difficult period of life.