Special Report
13 Things to Do If You Suddenly Become Filthy Rich
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Becoming rich instantly, or in a very short period, is part of the great American dream. It happens each and every day to someone. What many people fail to consider ahead of time is that becoming wealthy also comes with great responsibility.
People can become wealthy in many ways. Some sell a business or an asset. Some people become wealthy in a very short period because of a smart or lucky investment. Some of the instantly wealthy win the lottery, win a legal judgment or receive a settlement. Others inherit more money than they expected, and some inherit money that they never knew was coming to them. And some people with stock options become instantly wealthy on paper if they have stock options when their employer has an initial public offering or gets acquired.
24/7 Wall St. has created a list of 12 things not to do if you win the lottery, but we wanted to create a blueprint for those lucky few who become wealthy overnight or in a very short time.
Again, becoming wealthy comes with responsibility. Suddenly having millions of dollars puts you in the so-called one-percenter club. Being responsible about your newfound wealth may do more than just protect your new assets — it could even save your life, literally.
Winning the lottery is one of the more well-known ways of becoming instantly wealthy. Other means of instant wealth do not require things like remembering to sign a ticket or to report winning to the proper lottery authority.
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