Tag Archives: Sudden Wealth

Sudden Wealth – The first steps…

Question: I’ve just come into what you might call ‘sudden wealth’, what are the first steps I should take? Answer: I suggest focussing on three immediate priorities: My first suggestion would be to change your telephone number; also, many individuals find that setting up a PO box address is helpful in that your mail tends […]

Loans to Offspring?

Question: I want to provide a loan to my daughter, what are the pitfalls? Answer: The Law Society is warning parents to be careful when making loans to their children. The warning comes in the light of restrictive lending conditions in the mortgage market which have required young people to stump up large deposits when […]

It’s official – Private Banks no longer fashionable

According to a new report commissioned by JP Morgan, wealthly individuals no longer wish to deal with private banks, now there’s a surprise. The report, titled The Wealth Management Report: Meeting the Expectations of UK High Net Worth Individuals, analysed the challenges facing the wealth industry, particularly the changing demands of the new young high […]

Coming into Sudden Wealth?

Question: Duncan, what practical steps should I take now that I’m a ‘sudden wealthflow’ recipient? Answer: Generally speaking, people who come into money quickly, such as lottery winners and people who receive large inheritances, usually make decisions too soon. They put their house on the market and buy a new, bigger one right away. They […]

What is Sudden Wealth?

Question: Duncan, I hear the term ‘sudden wealth’ more and more often these days, but what is it? Answer: Well there’s gradual money and there’s sudden money.  Most of us are used to gradual money – earning an income and building a nest egg over time.  It’s a slow and steady process.  As our net […]