Episode 31

Published on:

3rd Jul 2023

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.


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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About the Podcast

Advance Your Wealth With Homer Smith
Financial advice to generate the results you expect and desire
Advance Your Wealth With Homer Smith provides you and your business with the financial advice needed to make calculated decisions moving forward. With over 18 years of industry experience, Homer Smith, Private Wealth Advisor with Konvergent Wealth Partners, understands the importance of a commitment to customer service and strives to help clients pursue their financial goals towards aspirations and retirement.

Each episode we'll take a deep dive into a different complex topic surrounding personal and business wealth management. So sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

Investment advice offered through Integrated Financial Partners, doing business as konvergent wealth partners, a registered investment advisor.