Advance Your Wealth - Sudden Wealth: What Should You Do if You Strike it Rich?
Sometimes, wealth occurs very suddenly. And along with the perks of new wealth, comes many challenges and issues to address.
On the latest episode of Advance Your Wealth, Homer examines some ideas and action steps to consider if you or someone in your life becomes very wealthy, very rapidly.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:30 - Significant wealth is typically created over a long period of time
3:10 - Sudden wealth comes with serious risk
4:20 - How should you navigate sudden wealth and begin healthy financial planning efforts?
7:04 - Mistakes you should avoid in the event you become suddenly wealthy
9:20 - The biggest challenges of managing sudden wealth
11:50 - How asset protection planning efforts come into play
13:37 - The big picture on managing sudden wealth for you and your family
15:45 - How you can get in touch with Homer and his team
17:52 - Closing remarks
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