If a few million dollars—or more—fell into your lap tomorrow, what would you do?
Sudden wealth isn’t a common or reliable way to get rich, but it can and does happen. Some big drivers of sudden wealth include:
Receiving a substantial inheritance
Getting a major settlement in a divorce or a lawsuit
Receiving a big payout because of stock options or the sale of your company
Winning the lottery
But while sudden wealth may sound like a dream come true, it’s often accompanied by serious challenges resulting from the “sudden” aspect of that money. With sudden wealth, everything about being rich—the good and the bad—happens all at once. In contrast, most people who build wealth slowly are able to address issues and concerns incrementally over time.