Sudden Prosperity and How NOT to Handle It
Have you read on occasion, like I have, of how an individual wins a few million dollars through some kind of lottery draw? Or maybe it’s a group of people sharing a lottery ticket and dividing up a 100 million or more? What about the lucky man or woman, who inherits a million dollars unexpectedly from a relative they hardly even knew?
Then there’s the baby boomers, whom are inheriting money daily as their hard working, thrifty parents pass away.
All common knowledge you say. Heard it many times before.
Well, maybe this part you haven’t heard. These individuals being revisited, just a few years down the road. And guess what?
No more money. All gone.
In some cases the individuals are even destitute. Forced to sell off their newly purchased home, cars, and vacation pied à terre.
Why does this happen time and time again? It’s very simple. We believe this windfall will last forever.
After all, one million dollars, a thousand one thousand dollars.
But, it doesn’t last forever.
A home for oneself. A home for a child. A vacation here and a vacation there. A car for me and a car for you, and before you know it, it’s all gone.
So the above is how not to handle the money!
Rule #1, don’t spend the money.
Rule #2, don’t spend the money.
Rule #3, don’t spend the money.
This is capital that will never be replenished.
> Invest it and spend the earnings it produces.
> Earnings will never run out.
> Don’t kill the goose that’s laying the golden eggs.
This windfall is the goose.
Properly invested it will provide you with security until the day you die and can be passed down from generation to generation to enjoy.
Trained Investment advisors have the skills to show you how to secure the longevity of your new wealth while providing a continuous flow of income.
The upcoming generations must be taught this implicitly.
Don’t kill the goose.