I make a living by telling people how to get rich slowly. But every so often — admittedly a little less often these days — I hear from somebody who’s been able to do the opposite. They’ve actually managed to find sudden wealth, whether through inheritance, winning a prize, or selling a business. “What should I do?” these folks ask. “I’ve never had this much money before.”
Sudden money is a good problem to have — especially in a rocky economy like this one. But if you find yourself in this situation, you still have to make smart choices.
If you receive a small windfall of a few thousand dollars or less — through a bonus at work maybe, or by selling your old baseball cards — follow two simple guidelines....
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