|
The prediction market has launched some ads featuring soccer players, as well as formed a partnership to display its brand in more places during the tournament.
|
|
Should you take Social Security at 62? Consider these 4 factors USA TodaySuze Orman Says the Biggest Financial Gift You Can Leave Your Spouse Is One Social Security Decision. Yahoo Finance‘It's heartbreaking': My brother claimed Social Security at 70. He died from cancer after one payment. Why wait to claim? MarketWatchThe $1.6 Million 401(k) Strategy That Beats Waiting: Spend First, Let Social Security Compound to 70 24/7 Wall St.
|
|
‘The Odyssey' Eyes $120M U.S. Opening, Best Live-Action Haul Of 2026; Global At $257M A Nolan Best DeadlineUniversal and Christopher Nolan's 'The Odyssey' sails to $124.5 million opening CNBCHistoric Alex Theatre in Glendale plays first feature film in more than 30 years ABC7 Los Angeles'The Odyssey' Is Just Anoth
|
|
It's no surprise that many people who inherit millions of dollars are uncertain about what to do with their newfound wealth. The possibilities of becoming a multimillionaire overnight can be overwhelming, especially during a period when most are grieving the loss of a parent or other loved one.
SEE MORE How Much of Your Estate Will Be Lost to Taxes?
I often work with people in many different age groups who have suddenly become wealthy as the result of a windfall inheritance. While there is a need to develop a comprehensive financial plan, it's not the first step. Instead, I try to determine each person's starting point with money. Many people fall into one of three categories:
They are anticipating how they will handle their wealth, but the money hasn't yet arrived.They have their inheritance — often several million dollars — but they are still grieving the loss of a loved one and are looking for guidance on next steps.
The inheritance has been in their bank account for a long period, but they still lack direction and can't make any decisions.
It is important to listen to each person's personal story with a windfall of money. Losing an important person in your life is difficult, and reflecting on the impact that person made is just as important. Many people express a desire to do something to honor a parent's wishes.
Figuring out how to make the best use of an inheritance
Here is how I generally approach these conversations to help a person make the best use of their inheritance:
Define their relat
|
|
