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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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Calendar

January 2019

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Visitors to Heard Natural Science Museum & Wildlife Sanctuary will be able to let their imaginations run wild as they travel back in time with life-size animatronic dinosaurs along a half-mile...

Where:
Heard Natural Science Museum & Wildlife Sanctuary
1 Nature Place
McKinney, TX  75069
View map »


Sponsor: Heard Natural Science Museum & Wildlife Sanctuary
Telephone: 972.562.5566
Contact Name: Stephanie Jennings
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

ArtNow is Oklahoma Contemporary's annual exhibition of Oklahoma-based contemporary artists. It closes with art sale - the first big party of the year with cocktails, tastemakers and the...

Cost: Free

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Show More...
Show Less...

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

ArtNow is Oklahoma Contemporary's annual exhibition of Oklahoma-based contemporary artists. It closes with art sale - the first big party of the year with cocktails, tastemakers and the...

Cost: Free

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Show More...
Show Less...

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Visitors to Heard Natural Science Museum & Wildlife Sanctuary will be able to let their imaginations run wild as they travel back in time with life-size animatronic dinosaurs along a half-mile...

Where:
Heard Natural Science Museum & Wildlife Sanctuary
1 Nature Place
McKinney, TX  75069
View map »


Sponsor: Heard Natural Science Museum & Wildlife Sanctuary
Telephone: 972.562.5566
Contact Name: Stephanie Jennings
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

ArtNow is Oklahoma Contemporary's annual exhibition of Oklahoma-based contemporary artists. It closes with art sale - the first big party of the year with cocktails, tastemakers and the...

Cost: Free

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Show More...
Show Less...

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Visitors to Heard Natural Science Museum & Wildlife Sanctuary will be able to let their imaginations run wild as they travel back in time with life-size animatronic dinosaurs along a half-mile...

Where:
Heard Natural Science Museum & Wildlife Sanctuary
1 Nature Place
McKinney, TX  75069
View map »


Sponsor: Heard Natural Science Museum & Wildlife Sanctuary
Telephone: 972.562.5566
Contact Name: Stephanie Jennings
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

ArtNow is Oklahoma Contemporary's annual exhibition of Oklahoma-based contemporary artists. It closes with art sale - the first big party of the year with cocktails, tastemakers and the...

Cost: Free

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Show More...
Show Less...

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Visitors to Heard Natural Science Museum & Wildlife Sanctuary will be able to let their imaginations run wild as they travel back in time with life-size animatronic dinosaurs along a half-mile...

Where:
Heard Natural Science Museum & Wildlife Sanctuary
1 Nature Place
McKinney, TX  75069
View map »


Sponsor: Heard Natural Science Museum & Wildlife Sanctuary
Telephone: 972.562.5566
Contact Name: Stephanie Jennings
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

ArtNow is Oklahoma Contemporary's annual exhibition of Oklahoma-based contemporary artists. It closes with art sale - the first big party of the year with cocktails, tastemakers and the...

Cost: Free

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

You weren't going to keep them anyway. Break your resolutions in style with your girlfriends: check out The Melting Pot's special Resolution Buster Ladies’ Night Out. The evening will...

Cost: $29.95 per person

Where:
The Melting Pot
4 E. Sheridan Ave
Oklahoma City, OK  73104
View map »


Telephone: 405.235.1000
Contact Name: Rob Fazle
Website »

More information

Find your new fave on 1/17! The COOP Showcase brings local artists together for a live concert experience you won't find anywhere else. 

Cost: $10

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


Sponsor: Tower Theatre
Telephone: 405.708.6937
Website »

More information

Show More...
Show Less...

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Visitors to Heard Natural Science Museum & Wildlife Sanctuary will be able to let their imaginations run wild as they travel back in time with life-size animatronic dinosaurs along a half-mile...

Where:
Heard Natural Science Museum & Wildlife Sanctuary
1 Nature Place
McKinney, TX  75069
View map »


Sponsor: Heard Natural Science Museum & Wildlife Sanctuary
Telephone: 972.562.5566
Contact Name: Stephanie Jennings
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

ArtNow is Oklahoma Contemporary's annual exhibition of Oklahoma-based contemporary artists. It closes with art sale - the first big party of the year with cocktails, tastemakers and the...

Cost: Free

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Tickets are now on sale for the the first must-attend party of 2019 - featuring signature cocktails, tastemakers and live art-making! ArtNow is your opportunity to party with a purpose and purchase...

Cost: $75-$150

Where:
Oklahoma Contemporary
3000 General Pershing Blvd
Oklahoma City, OK  73107
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Show More...
Show Less...

Through March 2019, Oklahoma Contemporary is partnering with Madison Square Park Conservancy to bring Erwin Redl’s installation Whiteout to Campbell Art Park. Whiteout is comprised of...

Cost: Free

Where:
Campbell Art Park
NW 11th and Broadway
Oklahoma City, OK  73103
View map »


Sponsor: Oklahoma Contemporary
Telephone: 405.951.0000
Contact Name: Lori Brooks
Website »

More information

Visitors to Heard Natural Science Museum & Wildlife Sanctuary will be able to let their imaginations run wild as they travel back in time with life-size animatronic dinosaurs along a half-mile...

Where:
Heard Natural Science Museum & Wildlife Sanctuary
1 Nature Place
McKinney, TX  75069
View map »


Sponsor: Heard Natural Science Museum & Wildlife Sanctuary
Telephone: 972.562.5566
Contact Name: Stephanie Jennings
Website »

More information

Men and women from across the American West played critical roles - both “over there” and on the home front - in helping the Allies win World War I. The National Cowboy & Western...

Cost: $12.50

Where:
National Cowboy & Western Heritage Museum
1700 Northeast 63rd Street
Oklahoma City, OK  73111
View map »


Telephone: 405.478.2250
Contact Name: Jenni
Website »

More information

Celebrate during MLK weekend with fun! From Saturday 1/19 through Monday 1/21, experience our Winter Fun Pass for just $19.95! This pass includes unlimited laser tag, bumper cars, frog hopper, kidz...

Cost: 19.95

Where:
Andy Alligator's Fun Park
3300 Market Place Dr
Norman, OK  73072
View map »


Sponsor: Andy Alligator's Fun Park
Telephone: 405.321.7275
Website »

More information

America’s largest interactive comedy murder mystery dinner show is now playing at the Skirvin Hilton Hotel. At The Dinner Detective, you’ll tackle a challenging crime while you...

Cost: $59.95

Where:
The Skirvin Hilton
1 Park Ave
Oklahoma City, OK  73102
View map »


Sponsor: The Dinner Detective
Telephone: 866.496.0535
Website »

More information

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