 |  |   |
| World, National and Local News and Commentary brought to you by CitiVU | ||
|---|---|---|
 |  | |
| Rancho Cucamonga, California - Friday, July 25, 2008 | ||
| | |
|
|
Commentary / Discussion | |||||
|---|---|---|---|---|---|---|---|
  | |||||||
| Nouveau RicheAll of a sudden, you are the recipient of a windfall ! It may be the result of someone else's catastrophe ( life insurance payout, inheritance etc), winnings in Las Vegas, lump sum retirement distribution, having the winning lottery ticket, internet stock payoff or just plain luck to name but a few. It doesn't really matter how you got the money but you must take into consideration certain ideas that serve you well through the event and ensure that your mental and financial faculties stay stable and intact. Here they are:1. Stay Calm. While those around you may be going bonkers over your new found wealth, you must make rational and careful decisions with your money. 2. Prioritize your spending and investment ideas. Are you in the market for a new or bigger house, more jewelry, college expenses, a new life of leisure, paying off debts, vacation home, or in business for yourself? 3. Get good and competent advice. Don't go it alone; let professionals help guide you in the decision making process. 4. Invest the money well while you are making your decisions. You might consider short term investments such as T-Bills or CD's or money market funds until you can prioritize your investment objectives. 5. Consider getting out of debt. Payoff your high interest bearing credit cards, car loans, or other personal debt. Remember, current tax laws allow the deduction of home mortgage interest payments. 6. Identify and carefully consider the legal and tax consequences before taking action. Those are just a few of the things of "what to do...if . " Should you have a need or know of anyone in this type of situation, please contact Joseph N. Rubinstein, MBA, Personal Financial Consultant, General Securities Principal, Diversified Securities, Inc. @ (800)365-7749. You can also reach me at www.investmentguy.com. Also, if you have a subject that you would like addressed in this newsletter, please e-mail me at joerubins@yahoo.com. Last Update: 10/27/1999 Joe Rubinstein is owner of The Investment Guy. Joe has been associated with Diversified Securities both as an investor and Personal Financial Consultant and Registered General Securities Principal since 1985. You can reach Joe at info@investmentguy.com |
| |
© 2002 AccuWeather, Inc.
| |
