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Sandie Maynard and I recently attended our certification program for Sudden Money®.  We spent two days working with others in our profession who realize that this is an issue where financial planners and financial planning plays a very important role.

Most of us will face transitions and many of these transitions cause significant changes in our life.  Susan Bradley the founder and elder of The Sudden Money Institute® has a saying I really like.

“When money changes, lives change.  When lives change, money changes.”  This is an obvious statement.  One that many people never consciously think about.  Here are some Sudden Money events you might think about:

A spouse dies.  This is something many of us will someday face.  Not only are we in total chaos from the emotional experience of going through the death of a loved one, we’re often pushed to make decisions about things that will affect our life for a very long time.

You experience a divorce.  Another emotional event where we’re asked to make decisions about money.  I believe putting decisions into the must make, and future is a good idea.  There are some things we have to decide and some things that can be put off.  I recommend putting off what can be put off.

You sell a business.  This is my specialty and where my interest in Sudden Money® lies.  Fortunately, this event can often be planned, often many years in advance.  I’ve developed a set of best practices in this area and believe that business owners thinking about a sale should at least hear what these are.

You gain an inheritance.  Many times you know this is going to happen.  Spending time with someone who understands inheritance planning can be worth your while.  There are opportunities that planners who have not been trained in this area might miss.

These are the four main areas a sudden money event might happen.  If any of these things has been in your past (the last couple of years) or you think it might be in your future, I suggest you take a few minutes to have a conversation with either Sandie or I.

I’m also interested in hearing about any experiences you may have had around sudden money experiences.  Please contact me at Jpatrick@stage2planning.com or click here to set a time for us to talk.

Josh Patrick

Click on the button below to get your decision free zone workbook.  I think you’ll find this booklet useful as you work through any Sudden Money® events you may have or might have in the future.


Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

This article is published for residents of the United States only.  Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.

Topics: value creation, wealth management, value enhancement, sudden money

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