Why you need a plan for unexpected "windfall" money скачать в хорошем качестве

Why you need a plan for unexpected "windfall" money

In this episode [154] of the rich & REGULAR podcast , Julien and Kiersten discuss how to manage a windfall, whether it's a sudden rush of money from investments, bonuses, tax refunds or unexpected events. They share their personal experiences with windfalls and the importance of splurging and treating oneself to experiences. They emphasize the need to resist the urge to act quickly and instead create a wish list and categorize priorities. They also discuss the importance of waiting and considering tax implications, as well as managing expectations and right-sizing giving. This episode explores the challenges and considerations of handling windfall money, such as large inheritances or lottery winnings. It discusses the potential impact on nonprofits and the need for careful planning to ensure the money is used effectively. The cognitive benefits and financial muscle developed through lump sums are also explored. The power of compounding interest and its role in accelerating financial plans is highlighted. The episode emphasizes the importance of making progress on financial goals and the fulfillment it brings. It also discusses how to handle large salary bumps or side hustle success and the need for preparation and planning. Seeking professional help for financial advice is recommended, along with customizing financial decisions based on individual circumstances. The episode concludes by emphasizing the importance of having a purpose for income. To learn more about the show, visit https://richandregular.com/listen/ About the Hosts: Julien and Kiersten Saunders are the hosts of the rich & REGULAR® podcast. New episodes are published weekly on YouTube, Apple Podcasts, Spotify and other streaming platforms. Julien and Kiersten are also the authors of Cashing Out: Win The Wealth Game By Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by Forbes. To learn more and purchase the book, visit https://richandregular.com/cashingout/ To contact us, send an email to hello@richandregular.com Learn how to invest in five hours: Need to know more about investing in the stock market? Visit https://richandregular.com/learn/ to sign up for Making Money Grow. We’ll teach you everything you need to get started and build wealth in just five hours. Not ready yet? Then join our mailing list where you’ll receive bi-weekly updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Sign up here: https://richandregular.us19.list-mana... Follow us on social media: Instagram:   / richandregular   Facebook:   / richandregular   Linkedin:   / 52189314   X/Twitter:   / richandregular