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Five Things to Do With a Windfall Other Than Spend it Right Away 14 Jun 2019 briana lira personal finance Perhaps you have won the lottery, received an inheritance, or cashed in one of your investments, and now you have a large sum of money you don’t know what to do with.
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5 Things Not to do if You Receive a Windfall by Barry Choi November 18, 2015 / No Comments Falling into a large sum of money can be tempting for anyone, but what you decide to do with that money can go a long way or be completely wasted if you’re not careful.
Do nothing rash. Set aside one year’s living expenses [note 2] and place the rest of the windfall into low risk investments (FDIC insured accounts, money market funds, treasury bills) for one year. As it may take as long as five years for the windfall recipient to adjust to a new life, this pause.
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SO just inherited 200k and is freaking out. What do we do? wealth management. close. 775. posted by.. (We both do have more loans outside of that, but we’re both up for public service loan forgiveness due to our field). if you do spend any of this money right away, it should be on things.