Home Sudden Wealth Recipient

 What's Wrong With Sudden Wealth?

Have you suddenly come into money?  If so - this page is for you!  

Maybe you won the lottery, sold your business, inherited an estate or a life insurance benefit. Don't be like 2/3 of recipients and lose your new-found wealth within 3 years.

Don't succumb to the new disease called "Sudden Wealth Syndrome"  .  

This section will help you identify and overcome factors related to these issues.  

 

Lottery Winner Murdered

Have you heard the story of Abraham Shakespeare? In 2006 he was working as a truck drivers assistant and living with his Mother when he won a $30 million-dollar Florida lottery ($13 million after taxes). By May of 2007 he has being sued by a man he used to work with – who claimed that Shakespeare stole the lottery ticket from him. Shakespeare won the suit but had to deal with it until October of 2007. During and after that time he was besieged with people asking for money.

 

According to Howard Altman, a reporter for the Tampa Tribune, in an article on March 18, 2010, Shakespeare gave millions away to other people for cars, yachts and houses. He paid for funerals, electric bills and rent and gave $100 dollar bills to homeless people in front of the Salvation Army.

 

Shakespeare's half brother reported that Abraham felt like someone was out to get him. Shakespeare drew up a will in March of 2009. In April he went missing. Through the summer and into the winter he remained missing. In January his body was found, wrapped in plastic, a blanket and a rug. He had been shot. One person has been charged with funneling millions of his money to herself and with first degree murder and others are being implicated.

Suddenly Wealthy
How to Get Sudden Money
Wednesday, 23 February 2011 16:13

We have written about the problems wealth can cause, especially sudden wealth, but you know you can handle those problems! The problem you want to solve now is how to get that sudden money. In this article we list and discuss 16 different ways you might come upon a windfall.

Read more: How to Get Sudden Money
 
What the Heck is Sudden Wealth Syndrome?

The term “Sudden Wealth Syndrome” (SWS) was coined by Dr. Stephen Golbart and Joan Di Furia in the late 1990's to describe symptoms they saw in dot.net entrepreneurs and lottery winners coming into large wealth in their California clientele. They set up the Money, Meaning & Choices Institute to explore the opportunities and challenges of having money.

 

According to the Institute's website you may have Sudden Wealth Syndrome if you have at least three of the following symptoms:

  • Increased anxiety

  • Intrusive and inappropriate thoughts about money

  • Anxiety and depression cycles about the stock market volatility

  • Sleep disorders

  • Irritableness

  • Guilt about having money

  • Confusion about their identity

  • Strong fear of loss of control

  • Paranoid thinking about being exploited

  • Increased depression

and, if you have $10 million to a billion or more, the good folks at the Money, Meaning & Choices Institute will be happy to help you get over the syndrome.

 
What Should You Do First with Your New Fortune?
You just sold your business, took a lump sum distribution from your retirement plan, signed the big contract, won the lottery or inherited unexpectedly from Great Aunt Jane. What should you do first?
Read more - What Should You Do First with Your New Fortune?
 


 

Subscribe to Family Money Values Newsletter

Subscribe now to our periodic newsletter.  

Join other wealth holders and seekers and get a free copy of the checklist our family used to successfully start cross generational family meetings.  

 

For a limited time only, you also receive a free copy of Whinny Makes a Change - a financial fable starrng Whinny the horse - to teach money values to children!

Choose Wealth!

My New Book - Check it out! Jamaca beach flattened