140 - What Should I Do When I Receive a Large Windfall?

Scott and James discuss what to do when you receive a large windfall. Listener Question Can you provide (hypothetical) advice on how to handle a financial windfall? My wife and I are in our mid-thirties with one young child. She is a stay-at-home mom while I work in tech. My salary of approximately $130k covers all of our annual expenses in addition to 401k contributions (up to the amount needed to receive full employer matching). We also started contributing to a 529 plan for our son. We recently came into possession of $2.3M in concentrated stocks and bonds with unrealized capital gains of around $1.5M. Are there any no-brainer moves to make given our new financial position. Timestamps: 3:08 - Windfall Introduction 5:16 - Cost Basis Impact 7:21 - What Matters Most? 9:48 - Life Goals 12:22 - It's Not About Perfect 16:02 - Value of Diversification 17:18 - Aligning Your Values With Your Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here