5 Smart Steps to Manage a Financial Windfall

Before you splurge, take time to consider all the financial angles and come up with a solid plan.

Figuring out how to manage a windfall sounds like the kind of problem we’d all like to have. Sadly, though, an unexpected payout—whether from an inheritance, a lawsuit settlement or a lucky lottery ticket—can create a world of problems. Shady financial advisers may shower you with dubious investment schemes. Long-lost relatives could reappear with hard-luck stories. You might be tempted to quit your job, buy a more expensive house or make other costly decisions that could make your jackpot quickly disappear.

SEE ALSO: How to Find a Money Therapist

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