”Know Better. Do Better. Series” Planning for a Financial Windfall, With Lauryn Williams and Chloé Moore
Tuesday, March 02, 2021
”Know Better. Do Better. Series” Planning for a Financial Windfall, With Lauryn Williams and Chloé Moore
This is the “Know Better, Do Better” series born from the countless conversations two CERTIFIED FINANCIAL PLANNER™ professionals, Lauryn Williams and Chloé Moore, have about the trendy narratives and clickbaity articles that make it hard for them to help their clients. They want to help you gain financial confidence and clarity to control your destiny.
In this episode of the series, Lauryn and Chloé are talking about how to handle your finances when you receive a windfall. Now you might instantly think of winning the lotto as a windfall, but there are many instances of windfalls that you can receive including tax refunds, stimulus checks, and inheritances.
While not every windfall you receive is going to be large and life-changing, it’s still important to have a plan for what you’re going to do with it.
In this episode, we discuss:
- What to consider when you receive small windfalls
- Why a large tax refund is NOT the goal
- The importance of considering payout options and tax obligations
- Considerations to make if you receive a large, but not life-changing windfall
- Important considerations for signing bonuses
- Why you need to be clear on your financial needs
- Why it’s helpful to have money goals established even if you’re not planning on receiving a windfall
- What to think about for retirement planning
- Importance of watching out for scams including “sketchy businesses”
- What professionals you may want to work with
- Additional pro tips and things to watch for if you receive a windfall
If you want to further connect with Chloé Moore:
Instagram: @financialstaples
Twitter: @finstaples
Facebook: @finstaples
LinkedIn: @chloemoore
If you want to further connect with Lauryn Williams at Worth Winning, follow us on social media:
Instagram: @worthwinning
Facebook: @worthwinningfp
LinkedIn: @lauryn-williams
Hi, I'm Lauryn
Certified Financial Planner
Welcome to the Worth Listening podcast and blog where we focus on having positive and productive conversations about money.
Interested in being a guest on our show? Email us today at podcast@worth-listening.com. We'd love to hear from you!
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