The numbers are in and there is a winning ticket! Let's hope whoever has it had a chance to read what Kathy had to say in Forbes' #1 Tip For Mega Millions And Powerball Lottery Winners.
By Kathy Longo, CFP®, CAP®, CDFA
One day your life looks a certain way. You have goals, some are lofty and some are reasonable. You have a pretty decent plan for how your life is going now and how it will go in the future. You are content and comfortable with the life you have laid out before you.
When your life changes instantaneously from a financial windfall the impact can take a toll on you, both emotionally and physically. Depending on the circumstances of how you came into sudden money, the range of emotions can vary from elation to confusion to grief to guilt.
The choices that you make during this transition can impact your life for a long time. It is often making those decisions that can come to be the most difficult part of a sudden money transition. Based on our experiences working with clients that have gone through this transition, we want to share some insights into how people can successfully manage their emotions and finances in the wake of a financial windfall.
