Everyone has dreamed of getting a “windfall” of some sort at one time or another. Perhaps it is an inheritance from a long lost Uncle, winning the Lottery or having the “Prize Patrol” show up on your doorstep. Sometimes the money can come from less than joyful circumstances. In some cases it can be the result of a settlement for some sort of injury or lawsuit. Unfortunately, if you don’t have experience handling money your windfall can be short-lived. For this reason many settlements are in the form of an annuity so you will get a certain amount every month (or year) for the rest of your life.
At first, getting a lot of money can feel like a tremendous boon. But, without the right money management skills many people find that their settlements become exhausted far too quickly. In fact, many people [Continue reading]