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Sudden Money



Many of us will receive an unexpected windfall at some point in our lives, with inheritances and retirement payouts being the most common.

Susan Bradley, CFP, author of “Sudden Money: Managing a Financial Windfall,” defines “sudden money” as the unexpected receipt of an amount of money that is much larger than you are accustomed to managing. According to her research, there are eight sudden money events: Taking a lump sum retirement payout, inheritance (either spousal or intergenerational), winning the lottery, insurance settlements, divorce settlements, stock options and becoming overnight sensations in entertainment or athletics.

“Many of the issues, decisions and challenges that sudden money recipients encounter are the same ones that they would have faced on their more gradual journeys to money maturity,” Bradley writes. “But then a situation is thrust upon them, and they feel like they have less time to figure out what is going on in their financial lives; more people want to advise them, go into business with them or borrow money. And new friends come out of the woodwork.”

Even if you are an experienced investor, sudden money puts you in new territory, and you will need objective professional guidance. A windfall can result in a quick transition from the accumulation phase of your financial life to the wealth management phase. Your goals could change along with your tax bracket, and estate planning may become more important.

The sudden money process has three phases, and each phase has to be completed before you move on to the next one, Bradley writes. “Phase one is a time of preparation and planning for the investment and lifestyle decisions you will be making in the second phase. Phase two is a time of action: putting your money to work by investing. Phase three is defined by the monitoring of your annual progress toward the goals you have set, and sharing your wealth with your family and community.

“The turning point of phase three is when you realize that you have enough money and income for your own needs,” Bradley writes, “and when you begin to think about passing your wealth on to your loved ones and sharing some with charitable causes.” Estate planning and charitable giving typically come later in the process, but they can be the most rewarding aspects of having wealth.

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September 2018

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More than 20 speakers in a one-track session designed for the digital marketing professional, marketer, business owner or anyone interested in branding, PR, advertising, social media, SEO, search,...

Cost: $250

Where:
Tower Theatre
425 NW 23rd St
Oklahoma City, OK  73103
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Sponsor: BigWing
Telephone: 405.475.4185
Contact Name: Janelle Archer
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This year will mark the eighth time the John F. Kennedy Awards have been celebrated, honoring individuals making a significant contribution to Oklahoma, its communities and its people, while paying...

Cost: $300

Where:
Skirvin Hilton Hotel
1 Park Ave.
Oklahoma City, OK  73102
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Sponsor: Santa Fe Family Life Center
Telephone: 405-840-1817
Contact Name: James Timberlake
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More than 20 speakers in a one-track session designed for the digital marketing professional, marketer, business owner or anyone interested in branding, PR, advertising, social media, SEO, search,...

Cost: $250

Where:
Tower Theatre
425 NW 23rd St
Oklahoma City, OK  73103
View map »


Sponsor: BigWing
Telephone: 405.475.4185
Contact Name: Janelle Archer
Website »

More information

Price Tower Art Gallery in Bartlesville will host Women Artists of the West's 48th annual juried art exhibition, featuring over 200 original art works, created by women in all mediums, subjects...

Cost: Free 2018-09-21,22,23

Where:
Price Tower Art Gallery
510 S. Dewey Ave.
Bartlesville, OK  74003
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Sponsor: Price Tower Arts Center
Telephone: 918.336.4949
Contact Name: Angelina Bourgou
Website »

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Escape the ordinary, and learn about OKC from a different point of view. Relax in the climate controlled cabin on one of our 65’ cruisers, or enjoy the breeze on the viewing deck and listen...

Cost: $15 for Seniors and kids under 12, $20 Adults

Where:
Regatta Landing
701 S. Lincoln Blvd.
OKC, OK  73109
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Telephone: 405.702.7755
Contact Name: Business Office
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A fabulous art auction to raise money to help support Oklahoma A+ Schools at UCO.

Cost: $100

Where:
CHK|Central Boathouse
732 Riversport Dr.
Oklahoma City, OK  73129
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Sponsor: Oklahoma A+ Schools at UCO
Telephone: 405.974.3791
Contact Name: Heather Bryant
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The evening Cocktail Cruise offers stunning views of the downtown skyline, the Boathouse District and Finish Line Tower, the Wheeler Ferris wheel and quite possibly an amazing Oklahoma sunset. Come...

Cost: $15 for Seniors and kids under 12, $20 Adults

Where:
Regatta Landing
701 S. Lincoln Blvd.
OKC, OK  73109
View map »


Telephone: 405.702.7755
Contact Name: Business Office
Website »

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Join supporters in communities across the nation for the St. Jude Walk/Run to End Childhood Cancer during Childhood Cancer Awareness Month. This family-friendly event raises funds to support the...

Cost: $10 for adults or children six and older

Where:
Stars and Stripes Park
3701 S. Lake Hefner Drive
Oklahoma City , OK  73116
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Telephone: 405.403.7762
Contact Name: Emily Drover
Website »

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Let’s end childhood cancer. Together! This September, supporters across the country will unite to participate in the St. Jude Walk/Run to End Childhood Cancer, an exciting, family-friendly...

Cost: $10 for Registration

Where:
Stars and Stripes Park
3701 S Lake Hefner Dr
Oklahoma City, OK  73116
View map »


Sponsor: ALSAC St. Jude Oklahoma City
Telephone: 405.403.7762
Contact Name: Emily Drover
Website »

More information

Price Tower Art Gallery in Bartlesville will host Women Artists of the West's 48th annual juried art exhibition, featuring over 200 original art works, created by women in all mediums, subjects...

Cost: Free 2018-09-21,22,23

Where:
Price Tower Art Gallery
510 S. Dewey Ave.
Bartlesville, OK  74003
View map »


Sponsor: Price Tower Arts Center
Telephone: 918.336.4949
Contact Name: Angelina Bourgou
Website »

More information

Escape the ordinary, and learn about OKC from a different point of view. Relax in the climate controlled cabin on one of our 65’ cruisers, or enjoy the breeze on the viewing deck and listen...

Cost: $15 for Seniors and kids under 12, $20 Adults

Where:
Regatta Landing
701 S. Lincoln Blvd.
OKC, OK  73109
View map »


Telephone: 405.702.7755
Contact Name: Business Office
Website »

More information

The evening Cocktail Cruise offers stunning views of the downtown skyline, the Boathouse District and Finish Line Tower, the Wheeler Ferris wheel and quite possibly an amazing Oklahoma sunset. Come...

Cost: $15 for Seniors and kids under 12, $20 Adults

Where:
Regatta Landing
701 S. Lincoln Blvd.
OKC, OK  73109
View map »


Telephone: 405.702.7755
Contact Name: Business Office
Website »

More information

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