A "windfall" sounds great, right?  Coming in to money suddenly?  Well, the National Endowment for Financial Education estimates that 70 percent of people who come into sudden money deplete it within just a few years.

Today, Shanna Tingom of Heritage Financial Strategies breaks down what to do with a windfall.  This includes:

• Planning ahead if you anticipate a windfall
• Be honest with yourself and family members you trust.  But don't force a conversation with someone who doesn't want to discuss it.
• Get a strong team in place - this includes a financial advisor, CPA, and estate planning attorney.
• Table immediate spending and make a wish list.
• Keep quiet about your situation, except to your financial team.
• Consider putting someone on that team in a "gatekeeper" role if you're worried you'll  have trouble saying no to people.
• Finally, listen to that team - respect spending boundaries, save appropriately, and learn from the mistakes you'll inevitably make.

For help with your retirement future, reach Shanna at Heritage Financial:

https://www.heritagefinancialaz.com/