- Keep it private — Don’t broadcast your windfall; privacy protects you from undue influence and risk.
- Pay off all debt — Clear your debts first to remove financial stress and prevent money erosion.
- Don’t quit your job just yet — Maintain routine and purpose; abrupt change could invite instability.
- Let the money settle — Pause drastic spending for about six months to think clearly and avoid impulsivity.
- Invest in financial education — Become literate in money management before deploying your funds. Recommended reads: Money: Master the Game and Rich Dad Poor Dad.
- Retain trusted advisors — If you’re inheriting, stick with your predecessor’s financial advisors who have proven results.
- Get comfortable—not flashy — Improve your life (e.g. paying off your home) but avoid expensive, recurrent-cost purchases like luxury cars or overpriced properties.
- Avoid lending to friends — Don’t jeopardize your safety net by funding others’ ventures or needs.
- Don’t start a business immediately — Most new businesses fail; instead, explore opportunities thoughtfully, with advisor input.
- Prepare for change — Wealth attracts attention, potential lawsuits, and scams; be vigilant.
- Prioritize health — Use your resources to ensure long-term well-being with checkups and healthier habits.
- Follow the 5% rule — Spend only on the returns (approx. 5%) so your principal lasts indefinitely—especially through diversified investments like index funds.
Additional best practices mentioned via related recaps (like Dinar Recaps) include:
- Protect your children’s future — Be mindful about how wealth influences family dynamics.
- Stay faithful — Sudden wealth can create emotional turbulence; maintaining personal values and relationships is key.
- Play it safe — Opt for conservative confidence.
An Investment in Education 