15 Ways to Safe Guard Sudden Wealth

15 Ways to Safe Guard Sudden Wealth

In this Alux.com video we will be answering the following questions:

What to do with money?

What to do if you suddenly get money?

What to do if you inherit a large sum of money?

What to do if you win a large sum of money?

What to do if you win a fortune?

What to do after you sell your company?

 00:00 - Intro

00:46 - Don’t tell a soul!

 01:35 - Get rid of high interest debt immediately!

02:10 - Max out your retirement

02:49 - Instead of paying off your house: 75% of it should go towards rental properties

03:42 - Instead of going on holiday: 10% to alternative investments with proven track record

05:20 - Get an accountant or tax advisor to make sure everything is by the book

05:59 -Don’t screw around - now you have something to lose

06:44 - Control your spending urges

07:51 - Consider inflation and adjust for it

 08:40 - You gotta get smart about money

10:10 - Consider the lifetime cost of ownership for the things you buy

11:44 - Do not give away parts of the principal to your family or friends

12:42 - Do not give away a portion of it to charity

14:20 - Move the money out of the country

15:14 - Develop a vision for the rest of your life

https://www.youtube.com/watch?v=IbNDqhvuf6Q

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