While winning the lottery is well outside mainstream reality for most people, it’s not uncommon to suddenly receive a large inheritance, a settlement, or perhaps a stroke of good luck. There are several stories of the major failings of people who’ve come into money only to see it disappear. If you find yourself with a sudden windfall, here are some tips that may help you avoid following down the same path:
You may want to take some time and space to process your windfall and think through your next steps. While you may feel you’re surrounded by well-intentioned people, there’s a chance that not everyone has your best interests in mind.
In some cases, if you tell one person, you may as well publicly post on social media. This could be difficult if you come into an inheritance unless it was passed to you through a trust. In general, when assets pass by trust, they avoid probate proceedings which are a matter of public record.
Instant wealth can make life much more complex. With the new opportunities it brings, some people quickly wipe out portions of their new-found wealth through ineffective tax planning, guilt-induced generosity, or poor cash flow management. Money decisions can be emotional, which is why some people work with a financial professional that serves as an emotionally-neutral party and provides personalized guidance to help them stay on track.
Depending on your needs, you may also want to consider working with a tax professional, an attorney, and an insurance professional. If you aren’t sure where to start, your financial professional may have a network of other specialists they can recommend.
You may be faced with several decisions and opinions on how to allocate your money. Depending on the size of your windfall, you may have a broad range of options available. Many people feel that creating a guaranteed stream of income is a good starting point. It’s believed that, if anything were to happen to your assets, you’re more prepared to sustain yourself for a period of time. There are several ways to create an income stream, and your financial professional can help you find the solution that works for your needs, risk tolerance, and goals.
This can be one of the touchiest parts of being a windfall recipient. Depending on the size of your windfall and the degree of investment in your financial future, you may have philanthropic desires, including giving back to friends and family. But it’s not uncommon to feel overrun with requests from people you haven’t spoken to in years. One way to reduce the awkwardness of dealing with requests is to forward them to your financial professional, who can give out predetermined sums. It’s not uncommon for people with newfound wealth to be on a salary controlled by their financial professional.
If you’ve recently received a large inheritance or another windfall, contact us and let’s create a strategy that will help you pursue your goals.
Moving to a new home is an exciting adventure, but for your furry friend, it can be a stressful experience. Pets thrive on routine and familiar surroundings, so a sudden change can trigger anxiety. But with a little planning and the right support, you can help your pet feel safe, secure, and comfortable during the moving process.At Bluestar Move Management, we understand that every move is unique, and were here to help make the transition smoother for both you and your pets. Here are some strategies to ensure your four-legged family members feel right at home in your new space.1. Plan Ahead for Your Pet's Health and SafetyBefore you begin packing up your home in SWFL, take a few crucial steps to ensure your pets health and safety during the move:Schedule a Vet Visit: Ensure your pet is healthy and up-to-date on their vaccinations before the move. If youre relocating to a new area, ask your vet for recommendations for local clinics and get a copy of your pets medical records.Update Microchip & ID Tags: If youre moving to a new address, dont forget to update your pets microchip and ID tags with your new contact information. This ensures theyll be safe in case they get lost during the transition.2. Stick to a RoutineRoutine is key to your pets comfort. During the moving process, try to maintain their usual schedule as much as possible. Feed them at the same time, keep walks on track, and continue giving them plenty of love and attention. Familiarity helps reduce anxiety and keeps your pet feeling secure, even in the midst of change.3. Create a Safe Space During the MoveOn moving days, things can get chaotic, especially in the busy neighborhoods of SWFL. With movers coming in and out, its easy for your pet to become overwhelmed. To keep your pet calm and prevent them from getting lost or stressed, set up a quiet, secure room where they can relax.Make sure the room includes your pets bed, toys, water, and some familiar scents. If youre traveling with your pet, whether within SWFL or beyond, bring a comfortable carrier or harness to ensure their safety during the trip.4. Take It Slow in the New HomeOnce you arrive at your new home in SWFL, its important to introduce your pet to their new environment gradually. Start by setting them up in one room with their bedding and toys to create a comforting, familiar space. Let them explore other areas of the house at their own pace.Introducing your pet slowly to the new environment will help them adjust more quickly and feel less overwhelmed. The familiar smells and objects they recognize will help them settle in faster.5. Trust Bluestar Move Management for a Stress-Free ExperienceWith the right preparation, your pet can adjust to their new home in SWFL without too much stress. Bluestar Move Management is here to provide the support and expertise you need for a seamless move. We handle all the detailsfrom packing to unpacking and setting up your new spaceso you can focus on what really matters: your pets comfort and your own peace of mind.Moving with pets doesnt have to be stressful. Let Bluestar Move Management take care of the heavy lifting while you enjoy a smooth, easy transition to your new home.Ready for a stress-free move with pets? Contact Bluestar Move Management today at 239-387-1147, and well help you every step of the way!
How To Stay Healthy and Happy All SeasonWinter can be a challenging season for seniors, requiring extra attention to health and well-being. Even in the warmer climates of Florida, seniors can still benefit from adopting essential wellness practices to boost their physical and mental health. Looking for some ideas for staying healthy this winter? Here are easy winter wellness tips to help you or your loved ones thrive during the cooler months, focusing on staying active, eating healthy meals, boosting immunity, and maintaining mental well-being.1. Stay Physically Active Indoors or Out!Maintaining physical activity is crucial for overall health and managing stress, especially this time of year when outdoor activities may be limited due to cold weather. When the temperature is agreeable and sidewalks are free of ice or snow, walking is a great way to get exercise and fresh air. Prefer to stay indoors? Low-impact exercises, such as chair yoga, stretching or indoor walking, are excellent ways to stay active without straining joints. These gentle routines can help improve:FlexibilityStrengthBalanceConsider joining community classes, a local gym or following online workout sessions specifically designed for seniors to ensure a safe and effective exercise routine.2. Boost Immunity With a Balanced DietEnjoy nutritious, comforting winter foods. Warm meals can bring comfort and nourishment during the winter months. Consider preparing hearty soups, stews, and casseroles that incorporate seasonal vegetables rich in vitamins and minerals, including:SquashCarrotsSweet potatoesThese meals not only warm the body but also provide essential nutrients needed for optimal health. Experimenting with new recipes can also add excitement to your winter dining experience.A well-balanced diet plays a vital role in supporting the immune system, particularly during winter. Incorporating foods rich in vitamins and minerals can help fend off seasonal illnesses. Focus on including vitamin C-rich foods, such as:Citrus fruitsLeafy greensBell peppersEmphasizing whole grains, lean proteins, and plenty of vegetables can keep your body energized and healthy throughout the season.3. Stay HydratedHydration is just as important during the winter as it is in the summer, though many people forget to drink enough water in cooler weather. Seniors are especially at risk of dehydration, so its vital to maintain regular fluid intake. Aim for at least 68 glasses of water a day, and remember that herbal teas, soups, and water-rich fruits like oranges and melons can also contribute to hydration. Staying hydrated helps support energy levels, improves digestion, and keeps skin healthy during the drier months.4. Dress Warmly and Prevent FallsEven in warmer climates, seniors should dress appropriately for cooler temperatures. Wearing layers allows for easy adjustments to temperature changes throughout the day. Proper footwear is also essential; non-slip shoes can significantly reduce the risk of falls, especially on potentially slippery surfaces. Taking proactive measures to enhance home safetysuch as installing grab bars in bathrooms or using slip-resistant rugscan further help prevent accidents during the winter months.5. Stay Mentally EngagedThe winter months, with their shorter days, can sometimes lead to feelings of isolation or the winter blues, particularly if you find yourself spending more time indoors. Staying mentally engaged is critical for emotional well-being. Activities like reading, puzzles or the creative arts can keep your mind sharp and stimulated. Equally important is maintaining social connections. Engaging with family, friends or community groups can uplift your spirits and combat loneliness. Consider participating in local events or joining clubs to foster new friendships and connections.6. Reduce the Spread of GermsWinter is cold and flu season, so reducing the spread of germs is key to staying healthy. Washing your hands frequently, using hand sanitizer, and regularly disinfecting surfaces can help prevent illness. An effective means of preventing the spread of viruses can be as easy as not touching your eyes, nose or mouth. Seniors should also avoid crowded areas during peak flu season and consider getting a flu vaccine to protect themselves. Encouraging social interaction is important for mental well-being, but its wise to limit exposure to anyone showing symptoms of illness and maintain proper hygiene practices. If you do become ill, remember to cover your mouth when you cough or sneeze.7. Get Plenty of RestRest and recovery are essential for overall health, especially during winter when your body may be working harder to fight off germs. Seniors should aim for 79 hours of sleep each night to support immune function and cognitive health. Establishing a relaxing nighttime routine, such as reading or listening to calming music, can help you unwind, improve sleep quality and maintain a regular sleep schedule. Prioritizing rest also boosts mood and energy, helping to combat winter fatigue.Prioritize Your Wellness All Year LongStaying healthy and happy during the winter months is achievable with intentional actions. By incorporating these wellness tips for staying healthy into your routine, you can enhance your physical and mental well-being throughout the season.For seniors looking for comprehensive support in maintaining their health and wellness, communities like The Terraces at Bonita Springs, a luxury Life Plan Community in Bonita Springs, Florida, offer year-round wellness programs, nutritious dining options, and a variety of social activities designed to foster a fulfilling lifestyle. Embrace the season with confidence, knowing small changes can lead to significant improvements in your overall well-being.Prioritize your wellnessand happinessall year long at The Terraces. Call 239-208-6963 or contact us online to schedule a personalized visit and experience our brand of living well.
By Phara Lafortune-Morame, LCSW, MCAP, EMDR cert., QS.There are many reasons that significant moments are often celebrated with a drink. But during the holidays, otherwise-celebratory toasts can be triggers for people who struggle with substance use disorder, including seniors.Some families and cultures have holiday traditions that lean heavily on alcohol consumption. Family recipes for festive cocktails and toasts before dinners reinforce the idea that consumption is part of connecting with loved ones and embracing the holiday spirit.The Distilled Spirits Council of the United States notes that a quarter of the $49-billion-a-year distilled spirits industrys profits come from the month between Thanksgiving and the New Year. Another study notes that the average American drinks 27% more during the holiday season compared to the rest of the year.As a result, the stress and anxiety associated with the holiday season can result in increased consumption or return to drug and alcohol use for those currently in recovery, particularly for older residents, who tend to suffer from depression more during the holidays. Many studies note that nearly half of individuals recovering will return to use during the holiday season.The prevalence of substances in celebrations often mixes badly with the elevated depression and stress the holidays can bring. Expectations for creating and experiencing holiday joy are at the center of potential substance use triggers. When mixed with emotional turmoil, financial stress, loneliness, grief, nostalgia, and dysfunctional and complex family relationships, this can create a desire to seek temporary escape from overwhelming feelings through substances. For those aged 65 and older, alcohol misuse is the most frequently reported substance of use.The use of alcohol in older adults negatively impacts brain structure and function and can lead to declines in cognitive function and memory, particularly for adults over the age of 65. In addition, the bodys ability to break down alcohol decreases with age, resulting in increased risk for accidents and falls, fractures and car accidents. For anyone in recovery from substance use disorder, or concerned about increased consumption through the holidays, it is important to plan.Here are strategies for staying sober: Be aware of people, places or situations that can trigger consumption, and do what you can to minimize these exposures. Keep (and bring, if necessary) a nonalcoholic drink in your hand to resist temptation and discourage others from offering an alcoholic drink. Set realistic expectations. Stress is common for nearly everyone during the holidays, and spontaneous, imperfect moments are often the most memorable and special moments. Take care of yourself. Proper nutrition, exercise and meditation do wonders for your well-being. If you feel well physically, you will be stronger emotionally. Set boundaries, and let people know where you need support in resisting temptations. Have a plan on how to navigate, and more importantly exit social gatherings (For example, do not be dependent on someone else for transportation, so you can leave if needed). Be aware that returning to use a substance after a period of abstinence can happen AFTER the holidays, where we can justify returning to use by feeling entitled to drink or use drugs for having made it through the holidays. Sometimes, we manage better during a crisis than afterward.. Seek professional help and support.Sometimes, substance misuse is difficult to recognize in older adults, and few treatment programs are designed to meet their needs. However, the Primary Care Addiction Treatment (PCAT) program for adults at Healthcare Network follows a supportive, compassionate and nonjudgmental approach to encourage healing and lessen negative effects. The program treats every patient with respect and dignity, using empathetic language to reduce stigma and foster a supportive environment.Healthcare Network also offers medication for addiction treatment (MAT) for opioid use disorder, alcohol use disorder, and other substances within a primary care setting. Comprehensive care includes medication treatment along with behavioral therapy and counseling services to provide a whole-care approach to treating substance use disorders and support recovery.In addition, our primary care programs for the whole family include integrated mental and behavioral health care to address some of the mental health challenges that are sometimes at the root of substance use disorders.Help is available through the holidays and beyond. Supportive treatment can be the gift of a lifetime for you and your loved ones. About the Author By Phara Lafortune-Morame is associate clinical director of behavioral health at Healthcare Network. To learn more about substance use and behavioral and mental health support available Healthcare Network, visit healthcareswfl.org or call 239.658.3000.
We, at D. Gates Wealth Management, along with LPL Financial, are dedicated to helping our clients make informed financial decisions about issues that affect their financial needs, goals, and objectives. We strive to help clients to create a sense of financial well-being toward pursuing financial freedom. Additionally, we work with clients to determine what is important in their lives be creating a comprehensive financial plan centered around their values.Whether you're just starting out or you've already built a strong financial foundation and want to know what's next, D. Gates Wealth Management can help you take the next step.COMPREHENSIVE FINANCIAL PLANNINGCash Flow PlanningInvestment ManagementRetirement PlanningSocial Security OptimizationEducation FundingInsurance & Risk ManagementTax Management PlanningEstate PlanningINVESTMENT MANAGEMENTRisk AnalysisInvestment Policy DevelopmentTax Management PlanningPortfolio ManagementBUSINESS PLANNINGRetirement PlanningGroup BenefitsProfitability AnalysisSuccession Planning
We, at D. Gates Wealth Management, along with LPL Financial, are dedicated to helping our clients make informed financial decisions about issues that affect their financial needs, goals, and objectives. We strive to help clients to create a sense of financial well-being toward pursuing financial freedom. Additionally, we work with clients to determine what is important in their lives be creating a comprehensive financial plan centered around their values.Whether you're just starting out or you've already built a strong financial foundation and want to know what's next, D. Gates Wealth Management can help you take the next step.COMPREHENSIVE FINANCIAL PLANNINGCash Flow PlanningInvestment ManagementRetirement PlanningSocial Security OptimizationEducation FundingInsurance & Risk ManagementTax Management PlanningEstate PlanningINVESTMENT MANAGEMENTRisk AnalysisInvestment Policy DevelopmentTax Management PlanningPortfolio ManagementBUSINESS PLANNINGRetirement PlanningGroup BenefitsProfitability AnalysisSuccession Planning