Sudden Money Institute and  The Phoenix Society present… Copyright © 2009 Susan Bradley  All Rights Reserved.
Copyright © 2009 Susan Bradley  All Rights Reserved.  Money that comes from the  settlement  of a lawsuit is hardly a joyo...
Copyright © 2009 Susan Bradley  All Rights Reserved.
<ul><li>Money that comes from the  </li></ul><ul><li>settlement  of a lawsuit is hardly a  </li></ul><ul><li>joyous windfa...
<ul><li>But  going on  with your life may </li></ul><ul><li>not be so simple.  </li></ul><ul><li>You will need to make  fa...
<ul><li>The  emotional landscape  </li></ul><ul><li>is as important as the  </li></ul><ul><li>financial landscape.  </li><...
Copyright © 2009 Susan Bradley  All Rights Reserved.  Life Transition Events <ul><li>Windfall </li></ul><ul><li>Inheritanc...
Copyright © 2009 Susan Bradley  All Rights Reserved.
Copyright © 2009 Susan Bradley  All Rights Reserved.
Copyright © 2009 Susan Bradley  All Rights Reserved.
Copyright © 2009 Susan Bradley  All Rights Reserved.  Confusion,  inconsistent behavior,  tendency for regrettable decisio...
Copyright © 2009 Susan Bradley  All Rights Reserved.  Four Stages of Transitions  for Injury Settlements
<ul><li>Common  misconceptions </li></ul><ul><li>and  myths   </li></ul><ul><li>about  </li></ul><ul><li>receiving  </li><...
<ul><li>Too bad “that” happened to you </li></ul><ul><li>but at least you are rich now. </li></ul>Copyright © 2009 Susan B...
Copyright © 2009 Susan Bradley  All Rights Reserved.  American Idea of  Transitions What’s the big deal?  More money = bet...
Big Money Lasts a Lifetime <ul><li>Does spending an extra $800 a month really make a difference?  </li></ul><ul><li>If you...
Specific challenges expected  for settlement recipients <ul><li>Confusion about  settlement options </li></ul><ul><li>Futu...
Future Spending Realities <ul><li>Common reason for settlement money  to be gone within first year: </li></ul>Copyright © ...
What Others Have Found <ul><li>Get re-triggered </li></ul>Copyright © 2009 Susan Bradley  All Rights Reserved.  Leads to a...
How to  minimize  and  manage  challenges with  positive behaviors <ul><li>Know  what triggers  a stress response and know...
<ul><li>Limit decisions  and risk when stressed  </li></ul><ul><li>Wait at  least a year  before big purchase, commitments...
Self Help <ul><li>See the triggers </li></ul>Copyright © 2009 Susan Bradley  All Rights Reserved.  Learn to  manage  the b...
Positive Behaviors <ul><li>Decision Free Zone </li></ul><ul><li>Pro-active time out from making all but the most essential...
Decision Free Zone List <ul><li>Now:  Only  essential  and immediate needs </li></ul><ul><li>Soon:  Less urgent  decisions...
Positive Behaviors <ul><li>Tell others  </li></ul><ul><li>Make sure the  people in your life know your </li></ul><ul><li>D...
Explain in Advance of the Settlement <ul><li>its more complicated  than it looks  from the outside </li></ul><ul><li>it wi...
List Who Expects What <ul><li>You  </li></ul><ul><li>Family </li></ul><ul><li>Friends </li></ul><ul><li>Creditors </li></u...
Expectations Testing <ul><li>Rank  each item on a scale of 1 to 10. ( 10 is highest) </li></ul><ul><li>Can you afford it? ...
Tell Family and Friends Copyright © 2009 Susan Bradley  All Rights Reserved.
<ul><li>First cover  basic needs:  </li></ul><ul><li>housing, transportation, insurance, utilities </li></ul>Copyright © 2...
Manage Your Expectations <ul><li>Stress test the possibilities  and the limits of the money </li></ul><ul><li>First  cover...
All Amounts of Money Have Limits  <ul><li>$100,000 can earn 4,000/yr for life </li></ul><ul><li>or  </li></ul><ul><li>be g...
Giving Money <ul><li>Giving and Sharing  without a plan  can cause problems for everyone </li></ul><ul><li>First  give you...
Bliss List Copyright © 2009 Susan Bradley  All Rights Reserved.  A Bliss List is a list of those things that you would do ...
Before Settlement <ul><li>Have a  financial  and  life  plan </li></ul><ul><li>Understand the settlement  options  and you...
Beat The Odds <ul><li>Give yourself  a year  to get  </li></ul><ul><li>used to your new finances </li></ul><ul><li>before ...
What Now….. Series <ul><li>Introduction  September 24 </li></ul><ul><li>Settlement Option  September 29 </li></ul><ul><li>...
Copyright © 2009 Susan Bradley  All Rights Reserved.  The Sudden Money Institute 10 Huntly Cir Palm Beach Gardens, FL  334...
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  • Your life between the event and the settlement may have been uncertain and confusing, never really knowing how the damage from the event will effect your future or the when and how much of the settlement. Once the settlement arrives it is natural to want to put the legal battles behind you and get on with your life but we have found from experience that the quality of your life after the settlement can be determined by the choices you make now. Each decisions and commitment you make has an impact, it takes time to understand how the pieces fit together and which choices are in your best interest now and for the long term. This What Now…. education series is designed to help you prepare your financial and life plan to manage all the decisions that have been on hold for a long time. It may sound satisfying and fun to put the settlement money into action but the good feelings can soon fade and the money can quickly shrink. Each segment of this series addresses an issue that has been challenging and difficult for the majority of the people receiving legal settlement before you. This is an opportunity to learn from their experience and plan to live your best possible life. We encourage you to watch each of the seven segments , complete the workbook and find a training financial planner to help make current decisions, organize your plan and remain your trusted source of guidance for decades to come. The time you invest in yourself is the single biggest gift you can give yourself and your family. List the series titles
  • Money that comes from the settlement of a lawsuit is hardly a joyous windfall. Most of the time this money is a recovery for damages, pain, suffering, and loss. It has probably taken many years of legal battling to secure the settlement you anticipate receiving because of an injury or loss. While receiving the money might be nice, the real blessing is to have the matter over with so you can go on with your life.
  • But going on with your life may not be so simple. You will need to make far-reaching investment decisions while simultaneously dealing with psychological and possibly physical pain. You may have a permanent disability, you may have become the caregiver for family member who has been permanently injured, or you may be still suffering the effects of a tragic loss such as the death of a child or a spouse.
  • The emotional landscape is as important as the financial landscape. It is normal to see the financial component as most important and give your attention and energy to the financial planning that is required. Because it is more factual it may seem like safer ground, but your finances do not exist in isolation of your emotions. The event happened, you had years of legal, medical, dealing with the unknown
  • Introduction to the challenges of managing any major life event Common misconceptions and myths about receiving a large sum of money
  • Who What You _______________________________ Family ________________________________ Friends ________________________________ Creditors ________________________________
  • Making financial decisions is more complicated than it looks from the outside It will take at least a year before you really know how the money part works You will do your best for everyone but you must take care of your basic needs first
  • Have a Financial and Life Plan Stress test the possibilities and the limits of the money –know your trade offs First cover basic needs: housing, transportation, insurance, utilities New cars, vacations and houses will still be there a year later Get as much freedom from daily money worries as possible Wait one year before taking investment risk or big purchases
  • SMI and Phoenix Society

    1. 1. Sudden Money Institute and The Phoenix Society present… Copyright © 2009 Susan Bradley All Rights Reserved.
    2. 2. Copyright © 2009 Susan Bradley All Rights Reserved. Money that comes from the settlement of a lawsuit is hardly a joyous windfall. You may not control the events that put you in this position, or the amounts of money in your settlement, but you and only you determine the outcome. Susan Bradley, CFP ® Founder of The Sudden Money ® Institute
    3. 3. Copyright © 2009 Susan Bradley All Rights Reserved.
    4. 4. <ul><li>Money that comes from the </li></ul><ul><li>settlement of a lawsuit is hardly a </li></ul><ul><li>joyous windfall… </li></ul><ul><li>It has probably taken many years of </li></ul><ul><li>legal battling to secure the </li></ul><ul><li>settlement… </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    5. 5. <ul><li>But going on with your life may </li></ul><ul><li>not be so simple. </li></ul><ul><li>You will need to make far-reaching </li></ul><ul><li>investment decisions while </li></ul><ul><li>simultaneously dealing with </li></ul><ul><li>psychological and possibly </li></ul><ul><li>physical pain. .. </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    6. 6. <ul><li>The emotional landscape </li></ul><ul><li>is as important as the </li></ul><ul><li>financial landscape. </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    7. 7. Copyright © 2009 Susan Bradley All Rights Reserved. Life Transition Events <ul><li>Windfall </li></ul><ul><li>Inheritance </li></ul><ul><li>Major Career Change </li></ul><ul><li>Insurance Settlement </li></ul><ul><li>Retirement </li></ul><ul><li>Sale of Business </li></ul><ul><li>Pro Sports Contract </li></ul><ul><li>Change in health </li></ul><ul><li>Marriage </li></ul><ul><li>Loss of parent </li></ul><ul><li>Loss of spouse </li></ul><ul><li>Divorce </li></ul>
    8. 8. Copyright © 2009 Susan Bradley All Rights Reserved.
    9. 9. Copyright © 2009 Susan Bradley All Rights Reserved.
    10. 10. Copyright © 2009 Susan Bradley All Rights Reserved.
    11. 11. Copyright © 2009 Susan Bradley All Rights Reserved. Confusion, inconsistent behavior, tendency for regrettable decisions Reality Transition
    12. 12. Copyright © 2009 Susan Bradley All Rights Reserved. Four Stages of Transitions for Injury Settlements
    13. 13. <ul><li>Common misconceptions </li></ul><ul><li>and myths </li></ul><ul><li>about </li></ul><ul><li>receiving </li></ul><ul><li>a large sum of money </li></ul>myths Copyright © 2009 Susan Bradley All Rights Reserved.
    14. 14. <ul><li>Too bad “that” happened to you </li></ul><ul><li>but at least you are rich now. </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    15. 15. Copyright © 2009 Susan Bradley All Rights Reserved. American Idea of Transitions What’s the big deal? More money = better life! Ending New normal
    16. 16. Big Money Lasts a Lifetime <ul><li>Does spending an extra $800 a month really make a difference? </li></ul><ul><li>If you spend $50,000 a year how long will the money last? </li></ul><ul><li>If inflation grows at 4% and you keep the same lifestyle every year </li></ul><ul><li>how long will the money last? </li></ul>$1 million at 4% = 40,000 per year What's’ the lesson? Copyright © 2009 Susan Bradley All Rights Reserved.
    17. 17. Specific challenges expected for settlement recipients <ul><li>Confusion about settlement options </li></ul><ul><li>Future spending and commitments </li></ul><ul><li>Expectations </li></ul><ul><li>Family and Friends </li></ul><ul><li>Reoccurring stress patterns </li></ul><ul><li>Managing debt </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    18. 18. Future Spending Realities <ul><li>Common reason for settlement money to be gone within first year: </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved. Short term thinking causes long term difficulties. <ul><li>Future spending </li></ul><ul><li>Debts waiting for the money to arrive </li></ul><ul><li>Equalizing </li></ul><ul><li>Expectations </li></ul><ul><li>Self medicating </li></ul><ul><li>Wrong or no advice </li></ul>
    19. 19. What Others Have Found <ul><li>Get re-triggered </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved. Leads to a pattern of behavior Same feelings are activated
    20. 20. How to minimize and manage challenges with positive behaviors <ul><li>Know what triggers a stress response and know how to rebalance yourself </li></ul><ul><li>Use the Decision Free Zone concept to delay all but essential decisions </li></ul><ul><li>Tell friends and family about your Decision Free Zone </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    21. 21. <ul><li>Limit decisions and risk when stressed </li></ul><ul><li>Wait at least a year before big purchase, commitments, or risky investments </li></ul><ul><li>Know your numbers – cash flow, tax rate, inflation, dreams </li></ul><ul><li>Cover risk with proper insurance </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved. How to minimize and manage challenges with positive behaviors
    22. 22. Self Help <ul><li>See the triggers </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved. Learn to manage the behavior with a positive pattern
    23. 23. Positive Behaviors <ul><li>Decision Free Zone </li></ul><ul><li>Pro-active time out from making all but the most essential decisions and commitments </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    24. 24. Decision Free Zone List <ul><li>Now: Only essential and immediate needs </li></ul><ul><li>Soon: Less urgent decisions or actions that will </li></ul><ul><li>benefit from additional preparation time </li></ul><ul><li>Later: Need to be postponed until you have more </li></ul><ul><li>information, organization and clarity </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    25. 25. Positive Behaviors <ul><li>Tell others </li></ul><ul><li>Make sure the people in your life know your </li></ul><ul><li>Decision Free Zone commitment </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    26. 26. Explain in Advance of the Settlement <ul><li>its more complicated than it looks from the outside </li></ul><ul><li>it will take at least a year before you really know how the money part works </li></ul><ul><li>you will do your best for everyone but you must take care of your basic needs first </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    27. 27. List Who Expects What <ul><li>You </li></ul><ul><li>Family </li></ul><ul><li>Friends </li></ul><ul><li>Creditors </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    28. 28. Expectations Testing <ul><li>Rank each item on a scale of 1 to 10. ( 10 is highest) </li></ul><ul><li>Can you afford it? yes, no, maybe </li></ul><ul><li>Do you really know all the costs , what if it is higher </li></ul><ul><li>than expected? Wait until you know the cost. </li></ul><ul><li>Prioritize , if you could do anything not everything </li></ul><ul><li>what is most important? </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    29. 29. Tell Family and Friends Copyright © 2009 Susan Bradley All Rights Reserved.
    30. 30. <ul><li>First cover basic needs: </li></ul><ul><li>housing, transportation, insurance, utilities </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved. Have a Financial and Life Plan Get as much freedom from daily money worries as possible
    31. 31. Manage Your Expectations <ul><li>Stress test the possibilities and the limits of the money </li></ul><ul><li>First cover basic needs : housing, transportation, insurance, utilities </li></ul><ul><li>New cars, vacations and houses will still be there </li></ul><ul><li>Get as much freedom from daily money worries as possible. </li></ul><ul><li>Wait one year before taking investment risk or big purchases. </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    32. 32. All Amounts of Money Have Limits <ul><li>$100,000 can earn 4,000/yr for life </li></ul><ul><li>or </li></ul><ul><li>be gone in a week </li></ul><ul><li>$1 million can earn $40,000/yr for life </li></ul><ul><li>or </li></ul><ul><li>be gone in a year </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    33. 33. Giving Money <ul><li>Giving and Sharing without a plan can cause problems for everyone </li></ul><ul><li>First give yourself the gift of time between the settlement and gifting decisions </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    34. 34. Bliss List Copyright © 2009 Susan Bradley All Rights Reserved. A Bliss List is a list of those things that you would do for yourself, your family, and others in a perfect world . In this initial stage of deciding what to put on your list, don’t think as much about what you can afford, but about what would make you happy and fulfilled.
    35. 35. Before Settlement <ul><li>Have a financial and life plan </li></ul><ul><li>Understand the settlement options and your preferences </li></ul><ul><li>Know how much you need for living </li></ul><ul><li>Give yourself a safe amount to spend and enjoy </li></ul><ul><li>Re-set expectations – yours and family and friend’s </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    36. 36. Beat The Odds <ul><li>Give yourself a year to get </li></ul><ul><li>used to your new finances </li></ul><ul><li>before big spending and </li></ul><ul><li>giving. </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved. It is possible to move on and regain your well being
    37. 37. What Now….. Series <ul><li>Introduction September 24 </li></ul><ul><li>Settlement Option September 29 </li></ul><ul><li>Dealing with Debt October 1 </li></ul><ul><li>Home Buying October 6 </li></ul><ul><li>Insurance October 8 </li></ul><ul><li>Investing For Income October 15 </li></ul><ul><li>Financial Advisors October 20 </li></ul>Copyright © 2009 Susan Bradley All Rights Reserved.
    38. 38. Copyright © 2009 Susan Bradley All Rights Reserved. The Sudden Money Institute 10 Huntly Cir Palm Beach Gardens, FL 33418 888-838-9446 [email_address] http://suddenmoney.com The Phoenix Society for Burn Survivors, Inc. The Phoenix Society for Burn Survivors Inc. 1835 R W Berends Dr. SW Grand Rapids, MI 49519-4955 800-888-2876 616-458-2773 [email_address] http://www.phoenix-society.org

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