Course 12310 lessons

Sudden wealth and windfall management

A practical guide to handling a sudden windfall like an inheritance or big bonus, from the waiting period and setting aside for taxes to handling family pressure and vetting the advisors who come looking for you.

What counts as sudden wealth

Sudden wealth is a large, unexpected or life-changing sum of money that arrives all at once, rather than building up gradually the way a salary does. It shows up in a handful of recognizable forms: an inheritance after a family member's death, lottery or raffle winnings, a large bonus or commission, an insurance payout such as a life insurance death benefit or a disability claim, or the proceeds from selling a business you spent years building.