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The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth
Robert's book is the Bible of sudden wealth. So read it now!"
~ Mary Buffett, New York Times bestselling author of Buffettology
Everything changes. Those are the words I've heard time and time again over the past two decades from my clients who became sudden wealth recipients. Sudden wealth is a roller coaster ride of emotions - from the highest highs to the lowest lows. Sudden wealth is often portrayed as creating dire consequences for its recipients, but it can be an amazing opportunity that improves your life and those around you. I've worked with enough sudden wealth clients over the years to see patterns - what works and what doesn't. With proper guidance, and a willingness to stick to the 12 Principles outlined in this book, you can avoid the common pitfalls that so often destroy money, and instead transform your sudden wealth into lasting wealth to create a better life for yourself and others.
Here are just a few things you'll learn in The Sudden Wealth
*What does sudden wealth and surviving a disaster have in common? This one idea can help protect your money for generations.
*Learn about the three sudden wealth stages and what they mean.
*Never be caught off guard again. Learn just one sentence for when someone asks you for a loan or to invest in a project.
*Should you avoid making decisions after getting your sudden wealth? No. Doing so could cost you millions and be disastrous. Discover the decisions you are safe to make and those you must not make right after getting your windfall.
*Learn what time of day you should schedule phone calls and meetings with your advisors.
*Learn an effective and step-by-step method to choose the right attorney, CPA, and financial advisor for you.
*Read about the 8 key rules you can use to evaluate every financial advisor you interview.
*What's a Driver vs. a Passenger? You'll understand how this can help you make the important decisions.
*Overwhelmed and not sure what to do? Learn how to relax and start making progress.
*You might be surprised about the places you shouldn't look for an advisor.
*Certain money beliefs can make it nearly impossible to create lasting wealth. Learn which money beliefs you have and how to reset them.
*What to communicate immediately to friends and family after receiving sudden wealth.
*Copy a short note from the book that you can email to friends and family that puts you in control.
*Does it ever make sense to stretch the truth? You'll read why it just might.
*Figure out who's in your lifeboat and why this is one of the most important things you can find out to create financial security.
*Why people who get sudden wealth often act like monkeys and what you can do about it.
*Discover what really makes you happy and how you can use money to enhance your life.
*Learn what money has to do with cacti and ferns and why you want cacti.
*Read why the acronym SAFE can help protect your wealth.
*Can living with someone jeopardize your assets? Yes and you'll read the easy solution to this.
*Learn simple rules so you can invest like the Harvard endowment.
*Which investments are off limits and why.
*Learn how to create lifetime income from your sudden wealth.
*Worried you will spend too much? Learn how to break the spendaholic addition.
*You inherited an investment account and want to know what you should do with it? You'll find out.
*Married and getting an inheritance? Don't make this mistake...
*There is a 50% IRS penalty you need to know about.
*Five critical things you must do if you are going to file for divorce.
*How to remain anonymous after winning the lottery.
*How to get a lifetime of tax free income after a lawsuit.
*Your company's stock had an IPO but you want to reduce your risk? Here are six ways.
*Why so many athletes and entertainers go broke and what to do about it.
~ Mary Buffett, New York Times bestselling author of Buffettology
Everything changes. Those are the words I've heard time and time again over the past two decades from my clients who became sudden wealth recipients. Sudden wealth is a roller coaster ride of emotions - from the highest highs to the lowest lows. Sudden wealth is often portrayed as creating dire consequences for its recipients, but it can be an amazing opportunity that improves your life and those around you. I've worked with enough sudden wealth clients over the years to see patterns - what works and what doesn't. With proper guidance, and a willingness to stick to the 12 Principles outlined in this book, you can avoid the common pitfalls that so often destroy money, and instead transform your sudden wealth into lasting wealth to create a better life for yourself and others.
Here are just a few things you'll learn in The Sudden Wealth
*What does sudden wealth and surviving a disaster have in common? This one idea can help protect your money for generations.
*Learn about the three sudden wealth stages and what they mean.
*Never be caught off guard again. Learn just one sentence for when someone asks you for a loan or to invest in a project.
*Should you avoid making decisions after getting your sudden wealth? No. Doing so could cost you millions and be disastrous. Discover the decisions you are safe to make and those you must not make right after getting your windfall.
*Learn what time of day you should schedule phone calls and meetings with your advisors.
*Learn an effective and step-by-step method to choose the right attorney, CPA, and financial advisor for you.
*Read about the 8 key rules you can use to evaluate every financial advisor you interview.
*What's a Driver vs. a Passenger? You'll understand how this can help you make the important decisions.
*Overwhelmed and not sure what to do? Learn how to relax and start making progress.
*You might be surprised about the places you shouldn't look for an advisor.
*Certain money beliefs can make it nearly impossible to create lasting wealth. Learn which money beliefs you have and how to reset them.
*What to communicate immediately to friends and family after receiving sudden wealth.
*Copy a short note from the book that you can email to friends and family that puts you in control.
*Does it ever make sense to stretch the truth? You'll read why it just might.
*Figure out who's in your lifeboat and why this is one of the most important things you can find out to create financial security.
*Why people who get sudden wealth often act like monkeys and what you can do about it.
*Discover what really makes you happy and how you can use money to enhance your life.
*Learn what money has to do with cacti and ferns and why you want cacti.
*Read why the acronym SAFE can help protect your wealth.
*Can living with someone jeopardize your assets? Yes and you'll read the easy solution to this.
*Learn simple rules so you can invest like the Harvard endowment.
*Which investments are off limits and why.
*Learn how to create lifetime income from your sudden wealth.
*Worried you will spend too much? Learn how to break the spendaholic addition.
*You inherited an investment account and want to know what you should do with it? You'll find out.
*Married and getting an inheritance? Don't make this mistake...
*There is a 50% IRS penalty you need to know about.
*Five critical things you must do if you are going to file for divorce.
*How to remain anonymous after winning the lottery.
*How to get a lifetime of tax free income after a lawsuit.
*Your company's stock had an IPO but you want to reduce your risk? Here are six ways.
*Why so many athletes and entertainers go broke and what to do about it.
- GenresMoney
437 pages, Kindle Edition
First published April 28, 2015
61 people are currently reading
96 people want to read
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Displaying 1 - 30 of 35 reviews
April 2, 2018
Excellent
This book is practical, informative, humorously written, and easy to read, everything a help topic should be. I recommend it to many people.
This book is practical, informative, humorously written, and easy to read, everything a help topic should be. I recommend it to many people.
October 26, 2022
I really enjoyed this book on personal finance. It’s mainly aimed at people who have experienced Sudden Wealth and strategies to manage it.
The 12 Principles of Sudden Wealth:
1. Take Control
2. Slow Down
3. Get Help
4. Upgrade Money Beliefs
5. Manage Relationships
6. Say No
7. Help the Right Way
8. Create a Better Life
9. Set Spending Limits
10. Protect Wealth
11. Grow Wealth
12. Stay on Track
I found it very eye opening reading the chapters relating to relationships. I definitely experienced some of the issues he raises about when you have more money and how your family will treat you differently, even if it’s subconscious.
I also appreciated the acceptance and rejection aspects that happen when coming into any kind of money or even raises for that matter and how that may impact you. I know when I was a young manager, I made more money than my parents did and I felt compelled to spend it all and although I was earning a good salary, I spent everything that wasn’t part of an automatic savings system, and was living week to week most times. Having lived a lot of life since then I see that I needed to upgrade my money beliefs, and have over the years and value money in a much different way.
There’s a simple formula that he has for setting your savings/investment goal from your salary which I appreciated and used to work out mine again: “Your ultimate financial goal should be to save and invest enough so that you are financially secure, so if you are injured or don’t get another contract, you can continue to live your life without financial worries.” This was written for athletes and celebrities, but the value is still applicable.
Financial Independence Steps:
1. Determine your baseline spending: What are the costs of your baseline living
2. Determine your savings target: How much would you need to live yearly in retirement
3. Save all excess money beyond your baseline (you can increase no more than 25% even with more money coming in) until you reach the savings target.
4. Once the savings target has been met, you can increase your current living expenses.
There are a lot of great suggestions in here and I’ve highlighted many passages and have added tags to return to.
The only thing in the book that kept tripping me up was that it would suggest going to a link or a website and it would be blank, as in a blank space then a full stop/period. So those links were either taken out after in recent editions, or were never inserted? Not sure. Besides that I actually really enjoyed the book and it’s contents.
The 12 Principles of Sudden Wealth:
1. Take Control
2. Slow Down
3. Get Help
4. Upgrade Money Beliefs
5. Manage Relationships
6. Say No
7. Help the Right Way
8. Create a Better Life
9. Set Spending Limits
10. Protect Wealth
11. Grow Wealth
12. Stay on Track
I found it very eye opening reading the chapters relating to relationships. I definitely experienced some of the issues he raises about when you have more money and how your family will treat you differently, even if it’s subconscious.
I also appreciated the acceptance and rejection aspects that happen when coming into any kind of money or even raises for that matter and how that may impact you. I know when I was a young manager, I made more money than my parents did and I felt compelled to spend it all and although I was earning a good salary, I spent everything that wasn’t part of an automatic savings system, and was living week to week most times. Having lived a lot of life since then I see that I needed to upgrade my money beliefs, and have over the years and value money in a much different way.
There’s a simple formula that he has for setting your savings/investment goal from your salary which I appreciated and used to work out mine again: “Your ultimate financial goal should be to save and invest enough so that you are financially secure, so if you are injured or don’t get another contract, you can continue to live your life without financial worries.” This was written for athletes and celebrities, but the value is still applicable.
Financial Independence Steps:
1. Determine your baseline spending: What are the costs of your baseline living
2. Determine your savings target: How much would you need to live yearly in retirement
3. Save all excess money beyond your baseline (you can increase no more than 25% even with more money coming in) until you reach the savings target.
4. Once the savings target has been met, you can increase your current living expenses.
There are a lot of great suggestions in here and I’ve highlighted many passages and have added tags to return to.
The only thing in the book that kept tripping me up was that it would suggest going to a link or a website and it would be blank, as in a blank space then a full stop/period. So those links were either taken out after in recent editions, or were never inserted? Not sure. Besides that I actually really enjoyed the book and it’s contents.
July 16, 2019
I think there are important considerations that he educates readers about including the emotional side of how you think about money and which aspects of wealth are important to you. Do you use it to show status, connect to others, give back, etc? Identify what is important to you and focus on that area of satisfaction rather than just spending on anything because you "think you should."
The book covers different circumstances around sudden wealth which is nice to address the scenarios whether you are an inheritor, lotto winner, entertainer/athlete etc. But I really found myself wanting more information, feeling like we just scratched the surface. But it does really come back to setting your goals for what you want to achieve and then work with a team of advisors to help you make it a reality. Something you should be doing regardless of whether you have come into recent money.
The book covers different circumstances around sudden wealth which is nice to address the scenarios whether you are an inheritor, lotto winner, entertainer/athlete etc. But I really found myself wanting more information, feeling like we just scratched the surface. But it does really come back to setting your goals for what you want to achieve and then work with a team of advisors to help you make it a reality. Something you should be doing regardless of whether you have come into recent money.
July 11, 2023
In the Sudden Wealth Solution Robert Pagliarini presents an insightful and practical guide to navigating the complexities and challenges that arise when sudden wealth enters one's life. This thought-provoking book is a valuable resource for anyone who finds themselves thrust into a world of abundance and seeks guidance on how to effectively manage and maintain their newfound financial status.
The book begins by exploring the emotional and psychological impact of sudden wealth. It delves into the common pitfalls, such as impulse spending, excessive generosity, and feelings of isolation, which can lead to the squandering of wealth and even personal turmoil. The author presents compelling anecdotes and real-life examples that help readers relate to the potential challenges they may face, enabling them to reflect on their own circumstances.
What sets "The Sudden Wealth Solution" apart is its comprehensive approach to wealth management. The author addresses various aspects, including financial planning, taxation, investment strategies, and asset protection. While the book does not provide specific financial advice, it offers a solid foundation to readers, empowering them to make informed decisions and seek professional assistance when necessary.
Furthermore, the author emphasizes the importance of developing a purposeful and fulfilling life beyond financial success. This holistic approach encourages readers to consider their values, aspirations, and long-term goals. By placing emphasis on personal growth, philanthropy, and maintaining strong relationships, the book helps individuals cultivate a balanced and meaningful life amidst their newfound wealth.
One of the book's strengths is its accessibility. The author presents complex financial concepts in a clear and straightforward manner, making them easily understandable for readers who may not have a background in finance. Additionally, the inclusion of practical exercises and worksheets throughout the book enhances reader engagement, allowing them to actively apply the principles and strategies discussed.
The book begins by exploring the emotional and psychological impact of sudden wealth. It delves into the common pitfalls, such as impulse spending, excessive generosity, and feelings of isolation, which can lead to the squandering of wealth and even personal turmoil. The author presents compelling anecdotes and real-life examples that help readers relate to the potential challenges they may face, enabling them to reflect on their own circumstances.
What sets "The Sudden Wealth Solution" apart is its comprehensive approach to wealth management. The author addresses various aspects, including financial planning, taxation, investment strategies, and asset protection. While the book does not provide specific financial advice, it offers a solid foundation to readers, empowering them to make informed decisions and seek professional assistance when necessary.
Furthermore, the author emphasizes the importance of developing a purposeful and fulfilling life beyond financial success. This holistic approach encourages readers to consider their values, aspirations, and long-term goals. By placing emphasis on personal growth, philanthropy, and maintaining strong relationships, the book helps individuals cultivate a balanced and meaningful life amidst their newfound wealth.
One of the book's strengths is its accessibility. The author presents complex financial concepts in a clear and straightforward manner, making them easily understandable for readers who may not have a background in finance. Additionally, the inclusion of practical exercises and worksheets throughout the book enhances reader engagement, allowing them to actively apply the principles and strategies discussed.
July 29, 2020
It's amazing how much this author understands the hidden psychology within us regarding what happens when we receive a larger sum of money than we had previously. Even if someone just gets a normal raise, or marries someone with a steady job so s/he now appears more well off than before, this book can help with how people will try to get a piece of that extra cash. Even if not for themselves, for their pet charity (as though you haven't already chosen which, if any, charities you want to support.)
I read it twice, and learned much about people and myself. It's also helpful for people who aren't wealthy, but have wealthy family or close friends in their lives. This book helps those people know how to remain a supportive friend/family member to the wealthy one instead of being one more person who doesn't understand them and what it's like to so often be a target for others' unwanted money agendas. Take the time to know their world more, it's very eye opening.
I read it twice, and learned much about people and myself. It's also helpful for people who aren't wealthy, but have wealthy family or close friends in their lives. This book helps those people know how to remain a supportive friend/family member to the wealthy one instead of being one more person who doesn't understand them and what it's like to so often be a target for others' unwanted money agendas. Take the time to know their world more, it's very eye opening.
July 11, 2023
One of the most enlightening aspects of the book is its focus on the emotional and psychological impact of sudden wealth. The author has a masters degree in psychology and it comes through the pages. He acknowledges the mixed feelings that can accompany an unexpected inheritance, including guilt, fear, and the weight of newfound responsibility. Through relatable stories and practical advice, the book was helpful because I was feeling some of these same emotions. It helped me realize I was not alone.
July 12, 2023
Anticipating an inheritance can be both exciting and overwhelming. This book has been my go-to resource, providing practical strategies and step-by-step guidance on how to manage the financial windfall effectively. From estate planning to investment considerations, this book covers all the essential aspects and has given me the tools to ensure my inheritance is preserved and optimized for the long term.
February 26, 2024
Don't misunderstand- I'm not about to be extremely wealthy. This book was recommended for people who don't know much about money to help them figure out how things work. I'm helping my parents navigate their estate, so this was good to help me think through some things. Several chapters did not apply to our situation, but others had several points important for me to understand, so I highlighted and took notes on those. I can recommend this to anyone dealing with an estate, even a small one.
July 11, 2023
I won a lawsuit settlement and was lost about what to do with the money. This book has been a lifeline for individuals like myself who has had little prior financial knowledge. Its accessible approach, emotional support, and practical advice have helped demystify the world of finance, empowering me to make better decisions. If it wasn't for this book, I know I would have made a bunch of mistakes.
July 11, 2023
The Sudden Wealth Solution" is a revelation for individuals like myself who have unexpectedly inherited a significant sum of money but possess limited knowledge about financial matters. The author's expertise and guidance have been instrumental in helping me navigate the complex world of wealth management with newfound confidence.
July 11, 2023
I won a lawsuit settlement and was lost about what to do with the money. This book has been a lifeline for individuals like myself who has had little prior financial knowledge. Its accessible approach, emotional support, and practical advice have helped demystify the world of finance, empowering me to make better decisions. If it wasn't for this book, I know I would have made a bunch of mistakes.
July 11, 2023
What sets this book apart is its emphasis on personal growth and self-awareness. It prompts readers to engage in introspection, challenging them to define their priorities, values, and visions for the future. By doing so, readers can align their financial decisions with their deeper aspirations, ultimately leading to a more fulfilling and well-rounded life.
July 11, 2023
As a novice in financial matters, I was initially overwhelmed by the responsibility of handling a sudden windfall. However, I read about this book online and it gently and patiently walked me through the basics, explaining key concepts such as budgeting, investing, and tax implications in a manner that even someone with minimal financial literacy (that's me!) can grasp.
July 11, 2023
This guidebook highlights the significance of responsible wealth management, including considerations such as tax planning and asset protection. By offering a comprehensive view of the financial landscape, readers are equipped with the knowledge needed to make informed decisions and safeguard their newfound wealth for the future.
July 11, 2023
With its accessible writing style and clear explanations, the Sudden Wealth Solution ensures that even readers without a background in finance can grasp the concepts presented. The author's ability to break down complex ideas into easily digestible information makes this book a valuable resource for individuals at various stages of their financial journey.
July 11, 2023
Beyond the practical aspects of wealth management, the book underscores the importance of maintaining strong relationships and fostering a sense of community. It explores the potential challenges that sudden wealth can pose to personal relationships and offers guidance on how to navigate these complexities while preserving connections and promoting a healthy support system.
July 11, 2023
This book addresses the temptations and pressures that come with newfound riches, such as extravagant spending and the burden of excessive generosity. By highlighting these risks and offering alternative perspectives, the book helps readers make mindful choices that align with their long-term financial well-being and personal values.
July 11, 2023
Drawing from real-life examples and interviews with individuals who have experienced sudden wealth, this book offers relatable stories that enrich the reader's understanding of the subject matter. These narratives serve as cautionary tales, inspiring readers to approach their own newfound wealth with caution, humility, and a sense of responsibility.
July 11, 2023
The Sudden Wealth Solution goes beyond providing a mere financial playbook; it invites readers on a journey of self-discovery and personal transformation. By guiding readers to align their newfound wealth with their deepest values, the book empowers them to create a life of purpose, fulfillment, and sustainable financial success.
July 11, 2023
The Sudden Wealth Solution goes beyond providing a mere financial playbook; it invites readers on a journey of self-discovery and personal transformation. By guiding readers to align their newfound wealth with their deepest values, the book empowers them to create a life of purpose, fulfillment, and sustainable financial success.
July 12, 2023
This book has been an absolute game-changer for me. As someone who recently received a significant lawsuit settlement and had concerns about managing my newfound wealth, this book provided invaluable guidance on financial planning, investment strategies, and ensuring long-term financial security. It’s well written and easy to read.
July 12, 2023
I’m so happy I found this book. It has been an absolute godsend since my life-changing lottery win. As someone who went from ordinary to extraordinary overnight, this book has been my roadmap to navigate the complexities of sudden wealth, offering invaluable guidance on financial planning, asset management, and maintaining a healthy mindset amidst the newfound abundance.
July 12, 2023
I’m so happy I found this book. It has been an absolute godsend since my life-changing lottery win. As someone who went from ordinary to extraordinary overnight, this book has been my roadmap to navigate the complexities of sudden wealth, offering invaluable guidance on financial planning, asset management, and maintaining a healthy mindset amidst the newfound abundance.
July 12, 2023
When a dear friend recommended the Sudden Wealth Solution to me, I had no idea how profoundly it would impact my life. This book has been an incredible resource as I navigate my sudden wealth, offering practical advice and invaluable insights on managing my newfound abundance with wisdom and purpose.
July 12, 2023
This book goes beyond financial advice, addressing the emotional aspects of sudden wealth while offering practical strategies to secure financial stability. It has been a lifeline for me during this critical period, and I am now confident in my ability to manage my settlement wisely and avoid the fear of running out of money.
November 16, 2023
An excellent how-to book when dealing with sudden wealth!
I was impressed by the background and depth the author brought to writing this book. I am much better prepared for the event that has happened or is going to happen. I know much of the pitfalls and challenges I ready to take them head on and aware. Kudos to Mr. Pagliarini!
I was impressed by the background and depth the author brought to writing this book. I am much better prepared for the event that has happened or is going to happen. I know much of the pitfalls and challenges I ready to take them head on and aware. Kudos to Mr. Pagliarini!
July 12, 2023
When a friend recommended this book, I thought it was going to be another dull financial book. But it’s actually very interesting. Yes, there is a lot about money, but there is also a lot about emotions and the psychology of money which I found most interesting. Highly recommended!
July 12, 2023
The Sudden Wealth Solution is an absolute gem for anyone anticipating an inheritance. As I eagerly await my own inheritance, this book has been a trusted companion, offering practical insights and expert guidance on managing sudden wealth.
July 12, 2023
This is a great book for those, like myself, who are expecting an inheritance and want to make informed decisions about their newfound wealth. This book goes beyond just financial advice; it explores the emotional aspects and potential challenges that come with sudden wealth.
July 12, 2023
I cannot recommend this book enough to fellow lottery winners seeking guidance. This book provides a comprehensive roadmap on how to handle the life-altering changes that come with a sudden influx of wealth. I had no idea what to do but this book was so helpful for me.
Displaying 1 - 30 of 35 reviews