Making Sound Financial Decisions in the Wake of Sudden Money
The last word that comes to mind when you think about receiving a large sum of money is "shock". Indeed, the very notion of being the recipient of a financial windfall brings about feelings of extreme relief and jubilation, but the term "shock" to many, sounds a bit extreme. The reality, however, is that people can and do experience Money ShockTM that can negatively impact their decision-making while in financial transition. Stress, grief, panic, fear, and distrust are just some of the negative emotions that can come with new wealth. Those, coupled with feelings of excitement, relief, and joy, plus the potential for underlying family dynamics can lead to a mix of emotions that can lead to sleeplessness, confusion, clouded judgment and lack of thought clarity among other things. But there is a light at the end of the tunnel.