Congratulations !! You have received a cash windfall-5 TOP TIPS
Jonathan Martin DipPFS EFA
AKA ‘A Shropshire Lad in Switzerland’ -35 years experience in helping English speakers overseas to become more confident and empowered to thrive in their adopted countries through my information and event services.
Everyone has at some point daydreamed about what they’d do if they suddenly came into a large amount of money. But what would you do if it really happened?
Whatever the amount you should always think carefully before spending it. Take your time to consider your options as you might be feeling overwhelmed.
A large sum of money has the potential to transform your life if you use it wisely. So, read on for five things to bear in mind if you come into unexpected money.
1. Make a plan of what your goals are
When making this plan, you may benefit from the advice of a financial adviser. I can help you to organise your finances to help you achieve your future plans and goals..
2. Pay off your debts to avoid interest payments
Settling your debts is usually the most sensible thing to do if you come into unexpected money but I can advise you on this based on your specific circumstances..
3. Keep an emergency fund
Nobody can predict the future ( 2020 is perfect proof of that fact) , so no matter how well you manage your money, it’s always worth keeping a rainy-day fund. This can give you peace of mind if disaster should strike.
4. Decide whether you want to save or invest
One important decision you will have to make is whether you should save your new-found money or invest it. Your goals should have a strong influence on what you decide.
I can help to discuss the pluses and minuses of various options you now have to consider.
5. Seek the help of a financial adviser
If you come into a large amount of money, you should consider speaking to an Independent financial adviser who can help you to use it to achieve your goals.
A study by YouGov in the UK has shown that only 27% of people would consider speaking to a financial adviser after receiving a windfall. If you want to use your money more effectively to reach your goals, you shouldn’t be one of them.
I help my clients in Switzerland save tax and achieve their future dreams and goals.
If you are based in Switzerland and receive that windfall please remember these 5 tips and I will be delighted to meet you via a free without obligation online 1 to 1 consultation.
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