Behavioral Finance, Financial Planning, Major Financial Decisions

How to Handle a Large Inheritance, Settlement, or Windfall

Rapidly advancing from rags to riches, or riches to… far more riches, is obviously exciting. However, the improper management of this wealth can be detrimental. You don’t have to look hard to find stories about how athletes, lottery winners, inventors, or estate beneficiaries have gone broke despite coming into enormous wealth. An inheritance or windfall should not be handled flippantly.