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Fallen Into A Chunk Of Cash? Don't Spend It All In One Place

Sunday, December 22, 2013 - 6:49 PM
"Whatever its source, deciding what to do with a windfall is perplexing.  That’s even more true of small sums: when it arrives out of the blue or when the sum isn’t large enough to be truly life-changing. Many of us may know that one day we’ll inherit a significant sum from our parents, or hope to sell our businesses for a hefty profit. That means that we also have considered in advance what we might do when that day arrives."

Fallen into a chunk of cash? Don't spend it all in one place | Money | theguardian.com
5
ShorebreakShorebreak2,375 posts since
Apr 6, 2010
Rep Points: 12,681
1. Monday, December 23, 2013 - 7:28 AM
"Sometimes a pile of money lands on you. Here's how not to **** it up with some tips to take care of your windfall."

"Sometimes" is a little over-stated.  For most is "never" or "very rarely."

So dream on...:D
2
51hh51hh1,462 posts since
Jan 16, 2010
Rep Points: 6,352
2. Sunday, December 29, 2013 - 3:14 PM
The best advice I ever got was "wait a year."  When I get any unexpected sum of money (more than say $100) it goes right into savings.  If it's a large amount, it goes into at least a 1-year CD.  Then if I want to do something with it, by the time the year is up, it will be a rational decision.

I know someone who received a $35,000 settlement.  It was squandered away within a couple of months, with nothing to show for it. 
2
carlycarly23 posts since
Sep 2, 2011
Rep Points: 81
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