This episode answers some very important questions about how to handle sudden money and property wisely. There are so many mixed emotions and feelings when it comes to receiving unexpected (or even expected!), large sums of money. It is all too easy to let bad advice and inexperience cause you to mismanage and waste what you have received.
Data has shown that the vast majority of people who come into sudden money end up squandering it, and even end up in more debt because of it. Knowing how to handle inheritance properly, from investing to saving or selling, is incredibly necessary.
It is very important to take a step back from the situation to gather your thoughts, enlist some help, and make a plan to manage your newly acquired money and assets properly. Listen in to learn more!
Listen To The Full Interview:
What You'll Learn From This Episode:
- How to avoid squandering sudden money by using careful thought management and financial planning.
- Why it is important to examine your thoughts and take a step back before making decisions about newly acquired money.
- How to avoid bad advice and seek out financial information from the right places.
- Using the rule of 72 to help you double your money and plan for the future.
- How to manage property and future plans for that property with your partner.
Featured On The Show:
- EP 8 | Profit Boss® Radio | Upgrade Your Money Operating System®
- EP 33 | Profit Boss® Radio | Women's Financial Freedom Month & the Ultimate Guide to Choosing a Financial Advisor
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