Even when the influx of a large amount of money is a happy event, it can provoke many uncomfortable feelings. There can be even more emotions at play when it is an inheritance, a sale of family property, or even a business exit.
And then there’s the cash itself – what do you do with it? Should it change your financial plan? Should you gift it to others? Charities? Splurge wildly? Pretend it didn’t happen?
There’s no right answer to what to do with the money, but some sensible steps can put you in a better position to make good decisions that are right for you now and in the future.