SMI and Phoenix Society
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SMI and Phoenix Society
- 1. Sudden Money Institute and The Phoenix Society present… Copyright © 2009 Susan Bradley All Rights Reserved.
- 2. Copyright © 2009 Susan Bradley All Rights Reserved. Money that comes from the settlement of a lawsuit is hardly a joyous windfall. You may not control the events that put you in this position, or the amounts of money in your settlement, but you and only you determine the outcome. Susan Bradley, CFP ® Founder of The Sudden Money ® Institute
- 3. Copyright © 2009 Susan Bradley All Rights Reserved.
- 8. Copyright © 2009 Susan Bradley All Rights Reserved.
- 9. Copyright © 2009 Susan Bradley All Rights Reserved.
- 10. Copyright © 2009 Susan Bradley All Rights Reserved.
- 11. Copyright © 2009 Susan Bradley All Rights Reserved. Confusion, inconsistent behavior, tendency for regrettable decisions Reality Transition
- 12. Copyright © 2009 Susan Bradley All Rights Reserved. Four Stages of Transitions for Injury Settlements
- 15. Copyright © 2009 Susan Bradley All Rights Reserved. American Idea of Transitions What’s the big deal? More money = better life! Ending New normal
- 29. Tell Family and Friends Copyright © 2009 Susan Bradley All Rights Reserved.
- 34. Bliss List Copyright © 2009 Susan Bradley All Rights Reserved. A Bliss List is a list of those things that you would do for yourself, your family, and others in a perfect world . In this initial stage of deciding what to put on your list, don’t think as much about what you can afford, but about what would make you happy and fulfilled.
- 38. Copyright © 2009 Susan Bradley All Rights Reserved. The Sudden Money Institute 10 Huntly Cir Palm Beach Gardens, FL 33418 888-838-9446 [email_address] http://suddenmoney.com The Phoenix Society for Burn Survivors, Inc. The Phoenix Society for Burn Survivors Inc. 1835 R W Berends Dr. SW Grand Rapids, MI 49519-4955 800-888-2876 616-458-2773 [email_address] http://www.phoenix-society.org
Notas del editor
- Your life between the event and the settlement may have been uncertain and confusing, never really knowing how the damage from the event will effect your future or the when and how much of the settlement. Once the settlement arrives it is natural to want to put the legal battles behind you and get on with your life but we have found from experience that the quality of your life after the settlement can be determined by the choices you make now. Each decisions and commitment you make has an impact, it takes time to understand how the pieces fit together and which choices are in your best interest now and for the long term. This What Now…. education series is designed to help you prepare your financial and life plan to manage all the decisions that have been on hold for a long time. It may sound satisfying and fun to put the settlement money into action but the good feelings can soon fade and the money can quickly shrink. Each segment of this series addresses an issue that has been challenging and difficult for the majority of the people receiving legal settlement before you. This is an opportunity to learn from their experience and plan to live your best possible life. We encourage you to watch each of the seven segments , complete the workbook and find a training financial planner to help make current decisions, organize your plan and remain your trusted source of guidance for decades to come. The time you invest in yourself is the single biggest gift you can give yourself and your family. List the series titles
- Money that comes from the settlement of a lawsuit is hardly a joyous windfall. Most of the time this money is a recovery for damages, pain, suffering, and loss. It has probably taken many years of legal battling to secure the settlement you anticipate receiving because of an injury or loss. While receiving the money might be nice, the real blessing is to have the matter over with so you can go on with your life.
- But going on with your life may not be so simple. You will need to make far-reaching investment decisions while simultaneously dealing with psychological and possibly physical pain. You may have a permanent disability, you may have become the caregiver for family member who has been permanently injured, or you may be still suffering the effects of a tragic loss such as the death of a child or a spouse.
- The emotional landscape is as important as the financial landscape. It is normal to see the financial component as most important and give your attention and energy to the financial planning that is required. Because it is more factual it may seem like safer ground, but your finances do not exist in isolation of your emotions. The event happened, you had years of legal, medical, dealing with the unknown
- Introduction to the challenges of managing any major life event Common misconceptions and myths about receiving a large sum of money
- Who What You _______________________________ Family ________________________________ Friends ________________________________ Creditors ________________________________
- Making financial decisions is more complicated than it looks from the outside It will take at least a year before you really know how the money part works You will do your best for everyone but you must take care of your basic needs first
- Have a Financial and Life Plan Stress test the possibilities and the limits of the money –know your trade offs First cover basic needs: housing, transportation, insurance, utilities New cars, vacations and houses will still be there a year later Get as much freedom from daily money worries as possible Wait one year before taking investment risk or big purchases