Join Jane Barratt for an in-depth discussion in this video Planning for windfalls, part of Managing Your Personal Finances.
- You're in the money.…Now what?…If you ask old school investment advisers…what keeps them up at night,…it's the concept of wealth transfer.…The generation that was able to buy a home for $10,000…and sell it 30 years later for a million,…they're retiring and they're starting to pass on.…The wealth that they've accumulated over their lives…is being inherited by their children…and their grandchildren,…which is something that gives these…old school investment advisers nightmares.…You see, this next generation is far less…financially literate than perhaps they could be,…but they're spectacular consumers.…
What does a sudden big check from a recently deceased…relative, let's say $100,000,…mean to the average person?…If this was a gameshow,…these would probably be the top five answers.…New car, vacation, pay off debts, new house,…help out family and friends.…Nowhere in that list is invest it.…And certainly there's no sense of,…let's give it back to the financial adviser…that helped Aunt Maude with her money.…So you see where this is going?…
- Maximizing your earning potential
- Planning for future earnings
- Budgeting and spending
- Understanding your credit score
Skill Level Appropriate for all
Next steps2m 49s
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