Cover image for Sudden money : managing a financial windfall
Title:
Sudden money : managing a financial windfall
Author:
Bradley, Susan, 1949-
Personal Author:
Publication Information:
New York : Wiley, [2000]

©2000
Physical Description:
xv, 316 pages ; 24 cm
General Note:
Includes index.
Language:
English
Subject Term:
Added Author:
ISBN:
9780471380863
Format :
Book

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HG179 .B713 2000 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

From inheritances and divorce and insurance settlements toretirement payouts and the most recent phenomenon of stock options,the largest transfer of wealth in the history of America is nowtaking place. For some, this welcome event is relativelystress-free. But for those who are inexperienced in dealing withlarge sums of money, a windfall can be an overwhelming, evenlosing, situation. What is the difference between those who buildon their financial gains and those who end up worse off thanbefore? In this much-needed, one-of-a-kind book, top financialplanner Susan Bradley gets to the heart of the matter by examiningthe emotional complexity of the windfall experience and how tomanage it-and your newfound money-successfully.

Whatever the sum involved, the impact of one's emotional stateon the way money is handled--or mishandled--cannot beunderestimated. In addition to the legal intricacies of receivingsudden money, the element of surprise that catches peopleunprepared also often leaves them there. Here, at last, is a typeof "owner's manual" to sudden money that demystifies the processfor recipients and their financial planners. Based on her work withcountless clients, many of whose stories appear in this book,Bradley has developed a step-by-step program for moving safelythrough the three phases of building a solid financialfoundation:

Preparation and Planning Investing Monitoring, Giving, and Sharing

Giving individual attention to each possible windfall event,Bradley addresses their distinct tax consequences, insurance andestate planning considerations, as well as the crucial emotionalcomponent. She also shares advice on how to put together the properteam of advisors, including an attorney and a therapist. Whencorrectly handled, an unexpected windfall can provide expectedbenefits that will continue far beyond the lifetime of the initialrecipient---and turn sudden money into lasting wealth.

Turn Sudden Money into Lasting Wealth

Maximize your wealth and minimize your stress and confusion withthis unique, indispensable guide to handling a sudden financialwindfall. Written by nationally recognized financial planner SusanBradley, Sudden Money provides a complete program forsuccessfully 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 witheasy-to-implement, proven ways to ensure that your financial gainsare more than fleeting good fortune.

"A 'must read' for financial advisors and for clients who havereceived financial windfalls. Susan Bradley has detailed--in aneasy-to-apply way--a new financial planning discipline that is sureto become a vital part of discussions about the burgeoning wealthin this country."
-- Ronni Burns , Wall Street consultant

"This book is essential for anyone who receives a financialwindfall. It's an easy read and packed with useful advice."
-- Don Phillips , CEO, Morningstar

"Reading this book is like having a trusted friend explain whatto expect, what to do, and what not to do at a happy time that canalso be overwhelming and stressful. This book has beenextraordinarily helpful to me."
-- Marci Shimoff , coauthor, Chicken Soup for theSoul

"Women in particular are often ill prepared to manage afinancial windfall. Without careful planning, it could turn into apitfall. Susan Bradley's book is a sensible guide on how to handleinstant wealth."
-- Jennifer Openshaw , CEO, WFN.com, Financial Networkfor Women


Author Notes

SUSAN BRADLEY has been a Certified Financial Planner for nearlytwenty years. She is the founder of The Sudden Money(TM) Center, aresearch and education company in West Palm Beach, Florida. Shespeaks, gives seminars and multi-day workshops, and trainsfinancial advisors in the Sudden Money Process. She also designsSudden Money programs for families, financial service companies,law firms, and corporations.

MARY MARTIN, PhD, is a writer living in Palm Beach, Florida. Shereceived her doctorate in applied linguistics from New YorkUniversity and has been writing and developing curricula for over adecade.


Table of Contents

What is Sudden MoneyTM?
The Three Phases of the Sudden Money Process
Phase One
The Decision Free Zone: What It Is and How to Handle It
Feeling Your Windfall: The Chute of Emotions
Search for the Right Financial Planner
Goal Setting
The Reality Check
Phase Two
The Risk/Reward Relationship
Stocks
Bonds
Mutual Funds
Phase Three
Staying on Track
Estate Planning: Transferring Your Wealth to the Ones You Care Most About
Giving and Sharing
The Sudden Money Events
Inheritance
Stock Options
Divorce
When Two Become One
Insurance Settlements
Winning the Lottery
Athletes and Entertainers
Retirement Benefits Package
Appendices
Index