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

EPISODE · Feb 23, 2022 · 18 MIN

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

from Real Personal Finance · host Scott Frank and James Conole

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

What this episode covers

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. W...

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

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Frequently Asked Questions

How long is this episode of Real Personal Finance?

This episode is 18 minutes long.

When was this Real Personal Finance episode published?

This episode was published on February 23, 2022.

What is this episode about?

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...

Can I download this Real Personal Finance episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.
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