In this episode of the Retirement Early podcast, financial advisors and retirement planners Linwood Fraher and Sam Benson explore strategies for managing unexpected windfalls, such as lottery winnings, inheritances, or the sale of a business. They discuss the pitfalls and challenges that can come with sudden wealth, including increased requests for money from friends and family, lifestyle inflation, and potential financial mismanagement. The hosts emphasize the importance of seeking advice from financial professionals, including attorneys, tax advisors, and financial planners, to ensure the money is managed wisely and can contribute to a secure future. They also share real-life examples of both successful and unfortunate cases of windfall management, providing listeners with valuable insights on how to best handle a sudden increase in wealth.

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