Everyone dreams of it – receiving a windfall of cash either from a long-lost relative, a winning lottery ticket, or through a will from a grandparent who thought the world of you.
For most of us, that day may never come. But for some, the arrival of a financial windfall can change life in a single moment. There are important fiscal decisions to be made and ways in which a windfall should be managed before it goes to waste.
Managing a large lump sum of money can be a daunting task. It pays to take a strategic, long-term view of how to spend and invest it. Consider the following ten ways to spend and save a financial windfall wisely.