Sudden Money: Managing a Financial Windfall

by Mary Martin and Susan Bradley

From inheritances and divorce and insurance settlements to retirement payouts and the most recent phenomenon of stock options, the largest transfer of wealth in the history of America is now taking place. For some, this welcome event is relatively stress-free. But for those who are inexperienced in dealing with large sums of money, a windfall can be an overwhelming, even losing, situation. What is the difference between those who build on their financial...

• Format: Hardcover
• Language: English
• ISBN: 0471380865
• ISBN13: 9780471380863
• Release Date: April 2000
• Publisher: Wiley
• Length: 336 Pages
• Weight: 1.40 lbs.
• Dimensions: 1.2" x 6.1" x 9.1"

Customer Reviews

Excellent!

Sudden Money is very helpful and easy to read. Everyone should read this book!

An excellent first step to the experience

As a recent sudden money recipient, I found the book to be a very good initial exposure to the flood of feelings and responsibilities associated with my windfall. While I won't deny that extensive research remains to be done on the subject, the book is written clearly and simply enough to help even the most unfamiliar reader as to the path that lies ahead. Readers are likely to find that a great deal of the book does not apply directly to them, but they should be examined anyway....along with the specific sections pertaining to their unique situation.I would have liked to see more information regarding tax implications, and clearer instructions as to finding a CFP specializing in this area. All in all, however, the advice was invaluable, if only to reinforce what I already suspected and to explain why I felt as I did during the process. My two bits: do not underestimate the value of the DFZ (decision-free zone) as a first step!From firsthand experience, I'd recommend that the chapters on winning the lottery be excerpted and made required reading for all winners before they're allowed to cash that check!

Best to read it BEFORE you need it

I suspect there are quite a few people who will read Sudden Money only after they have received a windfall, whereas the practical guidance it offers is highly useful for anyone who might someday need it. Although I began the book because I was academically interested in the psychological transformations sudden money brings, I found that simply reading it began to create transformations in the way I personally think about my own long term goals and how sudden money could influence how I can achieve them. The chapter on Giving and Sharing is useful even for people who never receive a windfall, because it teaches the value for anyone to have a plan for giving and to begin giving from wherever one is rather than postponing it for some future abundance.This book will help many people break through the unspoken injunction not to speak of family money matters. The writing style, direct and simple, matches the subject well, and may inspire you to be more direct and simple in raising money issues with the people nearest you.

Learning about the Decision Free Zone gave me Freedom!

I found Susan's book the day I had been a guest on ABC-TV's Deborah Duncan Show. To my surprise the Borders Books that I was to do a booksigning at had ordered this Susan's book instead of my own. There I was with 20 of Susan Bradley, CFP's book on Sudden Money instead of my own book: "How to be Irresistible to the Opposite Sex!" The store manager was mortified! But I thought it was serendipitous! I had to buy it!I am awesome at helping people find an irresistible soulmate, but money? I am now emotionally and mentally ready for a large advance for a future book without fear. Additionally... whenever I am feeling overwhelmed in any area of my life I declare a DFZ or Decision FREE Zone. My office staff, family and I find using this concept very freeing and productive. Thankyou to my fellow Susan Bradley! I wish there had been more books about money and Money Camps out there when I was growing up. I want my own daughter to attend your Money Camp this summer. PS I've read 6 books about money in the last 5 months and I truly belive that even people who aren't expecting sudden money should read this book, it gives one a more savvy perspective about wealth.

Sound advice from a financial pro

It's easy to joke about suddenly having an abundance of money but this book is helpful for anyone who has to manage an unexpected influx of money--it's not just lottery winnings but a substantial salary increase or a divorce settlement. The author explains why you have take some time to adjust to having this wealth and walks through the various strategies that make the most sense for your circumstances. This book should be read by accountants, attorneys as well as individuals doing their own financial planning.