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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

July 2019

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Start your Sunday morning by perfecting your practice during our outdoor yoga class. Enjoy the beauty of yoga outdoors in the glow of the Ferris Wheel lights! This class welcomes all levels, from...

Cost: Free

Where:
Wheeler Ferris Wheel
1701 S. Western Ave.
Oklahoma City, OK  73109
View map »

More information

Featuring more than 70 works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift of...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: 405.236.3100
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Show More...
Show Less...

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Show More...
Show Less...

Featuring more than 70 works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift of...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: 405.236.3100
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Our summer series is geared toward teaching printmaking in the classroom. Each Tuesday night from 5:30-8 p.m., we will show several different ways to approach 4 printmaking styles. You will...

Cost: $75

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

Show More...
Show Less...

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Featuring more than 70 works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift of...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: 405.236.3100
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Show More...
Show Less...

Featuring more than 70 works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift of...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: 405.236.3100
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Show More...
Show Less...

Featuring more than 70 works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift of...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: 405.236.3100
Website »

More information

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

You don’t want to miss Crossings' 11th Annual Beast Feast on July 26. You’ll enjoy a sportsman’s feast, hunting and fishing expo, fellowship, prizes, and a special...

Cost: $15

Where:
Crossings Community Church - OKC Campus
14600 North Portland Avenue
OKC, OK  73134
View map »


Sponsor: Crossings Community Church
Telephone: 405-302-1209
Contact Name: Pam Ingle
Website »

More information

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

Cost: Adult: $20 Seniors and Children: $15

Where:
Regatta Park Landing
701 S. Lincoln Blvd
Oklahoma City, OK  73119
View map »


Sponsor: Oklahoma River Cruises
Telephone: 405-702-7755
Contact Name: Che Loessberg
Website »

More information

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

Cost: Adults $20; Seniors and Children $15

Where:
Regatta Park Landing
701 S. Lincoln Blvd
Oklahoma City, OK  73119
View map »


Sponsor: Oklahoma River Cruises
Telephone: 405-702-7755
Contact Name: Che Loessberg
Website »

More information

Show More...
Show Less...

Featuring more than 70 works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift of...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: 405.236.3100
Website »

More information

A Texas State of Mind, featuring the art of Larry G. Lemons of Nocona, TX, is coming to the Chisholm Trail Heritage Center in Duncan, OK.  A meet the artist reception will be 3:30 - 6:30...

Cost: $4-$6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
www.onthechisholmtrail.com
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

Chisholm Trail Heritage Center in Duncan, OK, has many indoor activities planned for this year’s free National Day of the Cowboy celebration. A nationally-touring exhibit, Bison: Ancient....

Cost: Free

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
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

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

Cost: Adult: $20 Seniors and Children: $15

Where:
Regatta Park Landing
701 S. Lincoln Blvd
Oklahoma City, OK  73119
View map »


Sponsor: Oklahoma River Cruises
Telephone: 405-702-7755
Contact Name: Che Loessberg
Website »

More information

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

Cost: Adults $20; Seniors and Children $15

Where:
Regatta Park Landing
701 S. Lincoln Blvd
Oklahoma City, OK  73119
View map »


Sponsor: Oklahoma River Cruises
Telephone: 405-702-7755
Contact Name: Che Loessberg
Website »

More information

Show More...
Show Less...
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