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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

May 2019

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

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

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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


Telephone: 405.815.9995
Website »

More information

MILLER IN MAY HOME TOUR HIGHLIGHTS CHARACTER AND CHARM The 20th anniversary of Miller's beloved home tour Miller Neighborhood's most popular event is back for 2019… and...

Cost: $10 - $30

Where:
Miller Neighborhood
NW 10th to NW 16th, N Villa to N May
Oklahoma City, OK  73107
View map »


Sponsor: Miller Neighborhood Association
Telephone: 405.642.5982
Contact Name: Elizabeth Beard

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...

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

OKC's premier chamber orchestra, the Oklahoma Virtuosi, presents their season finale concert.  Concert will include: St. Paul's Suite Op.29 No.2 by Gustav Holst,...

Cost: Free

Where:
21C Hotel
900 W. Main St.
Oklahoma City, OK  73106
View map »


Website »

More information

As the first anniversary of her sixth album Conversation With A Ghost approaches in June, Italian-born and Austin-based singer-songwriter Giulia Millanta possesses a...

Cost: $15-$20

Where:
The Blue Door
2805 N. McKinley Ave.
Oklahoma City, OK  73106
View map »


Sponsor: The Blue Door
Telephone: (405) 524-0738
Website »

More information

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James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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


Telephone: 405.815.9995
Website »

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

Piedmont Airlines will be hosting a Information Session for ramp agent jobs at Embassy Suites in OKC. Please plan to spend up to 3 hours with us, as we will have you fill out applications, listen...

Cost: Free

Where:
Embassy Suites
1815 South Meridian Ave.
Oklahoma City, OK  73108
View map »


Sponsor: Piedmont Airlines
Telephone: 704-359-2477
Contact Name: Nick Calo
Website »

More information

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Show Less...

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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


Telephone: 405.815.9995
Website »

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

Show More...
Show Less...

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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...

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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


Telephone: 405.815.9995
Website »

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

Show More...
Show Less...

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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


Telephone: 405.815.9995
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

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

Show More...
Show Less...

More than 90 visual artists will line the streets of the Historic Paseo Arts District, selling original artwork in a wide variety of media, from painting and photography to wood and jewelry, and...

Cost: Free

Where:
Paseo Arts District
3022 Paseo
Oklahoma City, OK  73103
View map »


Sponsor: Paseo Arts Association
Telephone: 405-525-2688
Contact Name: Paige Powell
Website »

More information

Enjoy all your favorite activities at the Orr Family Farm for a special price! Admission is only $8 per person on this day only.

Where:
Orr Family Farm
14400 S. Western Ave.
Oklahoma City, OK  73170
View map »


Telephone: 405.509.9312
Contact Name: Lauren Daughety

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

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

Save $5 on a Dual Park Pass this Memorial Day Weekend! Get a full day of fun at Andy Alligator’s Fun Park and Water Park for only $29.99. A Dual Park Pass includes Unlimited Rides &...

Cost: Save $5 on a Dual Park Pass!

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

More information

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

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


Telephone: 405.815.9995
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

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...

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

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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