Episode 61: SWAT

Notes Sudden Wealth Syndrome Distress due to sudden wealth Large sums of money Suddenly wealthy. No experience doing the things needed Before no budget, no record keeping, not knowing where to start SWAT created for those who hit the big times but have no idea where to start and basically need a 2 by 4 across the head to wake up, pay attention, and to get down to business knowing it will be ok, but there's things to do. Feeling isolated, former friends, turning backs, asking for handouts, feeling guilty' You're not one of us anymore. The maturity to reject them. If you can't you will be on the road to it's all gone Fear of losing it all Therapists, real and fake. Fake Financial therapists who are there to hug and mug with commissions Inheritance, Trust, metering it out Sports, Lottery Confusion comes with wealth, key, you get a decent size tax return, what did you do with it? Spend it, pay off debt, invest it What you did with prior bonuses and lump sums is an extremely strong indication of what you will do with the big one Honeymoon: Like the honeymoon phase of a love relationship, people who first come into money feel powerful and invulnerable Many go on spending sprees, buying things and making risky investments (often with disastrous results) Minting Meaningful Mindsets. Clients. Series. Minting Millionaire Mindsets, Minting Mature Mindsets, Minting Monumental Mindsets. Maximize Mindful Missions, Minimize Mindless Messes. This is what SWAT training is all about and what our long-term client 3M program is all about. What is the future, what do you want to do? Instantly wealthy often results in instant insanity. Beware of those who are selling the psychology of wealth to get you to buy high commission insurance and high cost schemes involving assets under management. You are required to change Action Plan Affluence isn't easy, Achievable and unachievable goals. Links 11 Retired Players Still Being Paid by Their Old Teams Why the Mets pay Bobby Bonilla $1.19 million every July 1 NFL Screws Over Players: Out of the 1,400 claims that had been submitted by retired players, only 140 had been approved. Connecting Dots Schedule Monday - Questions Questions from clients and future clients of Fixed Cost Financial, Inc. Tuesday - SWAT Sudden Wealth Awareness Training A discussion about sports and entertainment contracts, inheritance, litigation settlements, lottery wins, 401k, 403b, 457, deferred compensation, or lump sum pension distributions, and/or life insurance settlements. Wednesday - Business You are a lifestyle business and your lifestyle is business. If this describes you or if you want to think like a business person, Wednesday's podcast is for you. Thursday - 3M Tune in and tune up with our Minting Millionaire, Mature, and Monumental Mindsets. For all ages, incomes, net worths, education levels, occupations, races, sex, or national origin. These episodes are not suitable for buttercups or snowflakes. Friday - Wrap Reviewing people, places, and events from the past week and forecasting based facts, figures, and logical bets. Saturday - Deep Dive Buckle up and settle in for a deep dive into the world of connecting dots from those who do forecasting for a living. Deep dives are conversations that don't just tell a story but are designed to make one think beyond the traditional boundaries that hold many back. Unsettling, provocative, controversial, and sometimes weird, nothing is held back as patterns from chaos appear. Sunday - Shows, Movies, and Videos A relaxed review of a show, movie or video for the purpose of highlighting business principles. Listen to the podcast, take a few notes, and then watch with a different perspective. If you ever had a teacher or professor show a movie during class, the purpose was to engage and learn, not entertain and sluff off. Sundays are for learning beyond textbook based upon teachable moments in shows, movies, and videos.