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Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

I Just Received $100k, What Should I Do?

Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

Ari Taublieb, CFP®, MBA

Retirement Planning, Save On Taxes, Careers, Personal Finance, Retirement, How To Retire, Business, Real Estate Investing, Investing, Stock Investing, Early Retirement, Entrepreneurship

4.7585 Ratings

🗓️ 13 September 2021

⏱️ 9 minutes

🧾️ Download transcript

Summary

Our topic on this episode of the Personal Finance Redefined podcast is about what to do when you come into a windfall (large sum of money). Questions discussed: How should I view this lump-sum? What are the pros and cons of each strategy? What should I invest in for my financial goals? Interested In Working With Ari? Schedule Your Free Consultation Call Here Let's Connect! WebsiteLinkedInInstagramENJOY THE SHOW? Don't miss an episode, subscribe via Apple Podcasts, Stitcher, Spotify, or Go...

Transcript

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0:00.0

Finances can be complicated, but they don't have to be.

0:08.0

I break down financial topics that may seem complex and overwhelming, so you can start taking action on your financial goals.

0:16.0

I'm Ari Talbid, and it all starts here on Personal Finance Redefined.

0:21.6

Hello, everyone.

0:22.7

Welcome back to another episode of Personal Finance Redefined.

0:26.0

If you're enjoying the show, please go ahead and hit that five stars button unless you're

0:29.5

on Spotify, in which case I believe that is impossible.

0:32.3

But if you're on Apple Podcast, that would be great.

0:34.5

That's how more people can find the show.

0:36.8

So today, another listener question.

0:39.5

The question is, I have $100,000. I appreciate your guidance and appreciated one of your early

0:44.8

episodes, Episode 7, how I invest my own money, and I have a question for you. I don't know

0:50.9

what to do with my $100,000 and I don't want to mess it up. Well, neither. I don't want you to mess up either. I have no student loan debt, a house that's not paid off yet, and a 401k plan at work. What am I missing? What should I do? Great question. If you have a question out there, please submit your question. I love them at personal finance redefined.c.O.

1:12.6

Okay, well, thank you for your question, and yes, that was episode seven, and here's how I would look at this.

1:17.6

Regardless, if you've got $100,000 or a million dollars, we're dealing with a lump sum of money here.

1:23.5

Could be an inheritance, could be a bonus, could be variable income, could be won a lottery ticket, a successful investment, side income, that kind of thing.

1:33.6

So the first thing is to think about if there's anything you haven't done that is giving you anxiety.

1:39.5

And the way I view that, and the reason I bring that up up is because, first of all, your finances should

1:46.4

be a reflection of your anxiety in a way, meaning if I always say, and it's a famous saying,

1:52.7

but I like to use it for clients is that it doesn't matter how much money you have. If you're

1:57.1

still worrying, you're not wealthy. And so first of all, what can you do of this $100,000

2:02.4

to just get rid of saying anxiety?

...

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