What to Do After a 7-Figure Windfall

Receiving a 7-figure windfall can feel exciting, but it also raises a lot of questions. In this FIN-LYT conversation, Chris Pavcic and Ben Ruttenberg walk through how people often approach the first 30 to 90 days, including why the first decision may be what not to do. They discuss letting the dust settle before major purchases or lifestyle changes and thinking carefully about who you share the news with. Not every windfall is taxed the same way. Chris and Ben explain how the source of the money changes the picture, including asset sales versus stock sales in a business sale, how inherited assets can receive a step up in basis, and how pre-tax retirement accounts are treated under the SECURE Act 10-year rule. They also touch on equity compensation like RSUs and ISOs, legal settlements, and lottery winnings, which are generally taxed as ordinary income. The episode also looks at what to consider when building a team around a windfall. Chris and Ben discuss the roles a CPA, an estate attorney, a wealth advisor, and insurance and risk management professionals can play, and why coordination between them matters. From there, they outline four areas that often change after a windfall: tax management, debt and lifestyle, investment management, and estate planning. Along the way, the conversation covers high interest debt and liquidity, dollar cost averaging versus lump sum investing, the risks of concentrating in a single investment, learning to say no, and reviewing an estate plan after a major life event. A recurring theme is that these planning conversations can start before a windfall happens rather than after. If you found this episode helpful, please like and subscribe to FIN-LYT for more weekly financial education. This content is for general educational purposes only and is not personalized tax, legal, or investment advice. Please consult your own CPA, attorney, or financial professional about your situation. Connect with EWA: https://ewa-llc.com/ https://www.instagram.com/ewa.llc/ https://www.linkedin.com/company/equilibrium-wealth-advisors/ https://www.facebook.com/EquilibriumWealthAdvisors/ View EWA Disclosures and Firm ADV: https://adviserinfo.sec.gov/firm/summary/308977