Tuesday, July 15, 2014

What to do When You Come into Money

A lot of people dream of suddenly coming into a large sum of money. And, while that might sound great, the sad truth is that around 70% of people who get sudden “windfalls”end up wasting all that money within a year or two, putting them right back where they started.  


Obviously, you don’t want that to happen to you. So, if you are fortunate enough to get a windfall, visit an investment services company for advice right away. Good companies will likely tell you to just plain do nothing with your money for a little while. Take a few months to get used to having it and to think about what you’d really like to do with it. Waiting will also keep you from making any impulsive decisions, such as buying lavish gifts for yourself or others.


After you’ve had some time to get over the shock of your windfall, then you can start working with the investment services company to put your money to work for you. If you’re at that stage of the game, contact Platinum Financial Associates, Inc. of Naperville for assistance.

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