How to handle a sudden financial windfall

What if, suddenly, you had enough money to buy something you’ve long desired, travel to a place you’ve dreamed of going, or make a real difference to a charity you’ve always admired? It is hard for your mind and body to absorb the change,” says Susan K. Bradley, a Palm Beach, Fla.-based financial planner and founder of the Sudden Wealth Institute, which trains financial advisers to help clients work through all aspects of a windfall. “It took three years for her to create a new life and feel like she fit into the world,” Ms. Bradley says. Ms. Bradley also suggests that windfall recipients consider a mental-health professional who can help with the emotional aspects of sudden wealth, since, she says, it “can mess with your head.” The advisers would collaborate like a board of directors to track and manage the windfall recipient’s finances, Ms. Bradley says. “We are very vocal about what’s right and wrong.” Money and happiness Dealing with a sudden windfall, however, isn’t just about making sure there’s enough money.