Almost everyone imagines waking up one day and being rich. It’s a dream that doesn’t happen for most people. But if you work hard enough and catch a few breaks, there’s always a chance you could become suddenly rich. If you do, you want to be prepared.
It’s important to realize that finding yourself rich in an unexpected way won’t likely happen. Very few have the skills to continuously make huge paydays like this man. But if you do find yourself coming into a windfall of dollars, there are several things you can do with the money. And they don’t all have to do with spending it. Check out 22 things the new rich must do with their money via Alux below.
22. Make A Plan Just In Case You Get Rich
One of the first steps you should take before you find yourself rich is to make a plan just in case it ever happens. Of course, most people laugh at the thought. But the first step you need to take is to have a plan in place. Ask yourself questions like, “What will I do with the money?” “Should I save it all, pay down some bills, or just go shopping?”
The reality is most people that come into a large sum of money quickly lose it within a certain number of years because they didn’t have a plan. Looking at lottery winners, about 70% of them find themselves broke again within three to five years because of a lack of a plan. If you have never had money before, you have little idea of the responsibility it takes to invest, save, and manage it, so a plan is your best bet.