If you have kids to feed and the money is crucially important, the first thing you need to do is to 1) Create a trust. A Trust that ensures and guarantees that the money can and only will be released when the time is right. 2) Create a returns generating, low risk platform to ensure accumulation for the long term. 3) Budget accordingly to needs and using only what you can afford 4) Refuse to listen to breadmakers who are trying to sell you gem stones. You need not be a gambler to squander it away, but you may come across people who make you their proxies. While I empathise with her story and wish the outcome will have turned out different, many instant millionaires have gone down the same path. It is a sad outcome that the payout ran out so quickly. The only thing she did not do well is engaging a proper structure to help her maintain her wealth and force her to stick to it. While we cannot decide what she does with her own money, we can, learn from these stories and plan ahead for ourselves.
Posted on: Sun, 08 Jun 2014 07:02:43 +0000
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