That’s fine yet we’ve probably all heard of, or know of, people who’ve had windfalls of various descriptions – lottery wins, cash prizes, unexpected inheritance – and within a year or so all of the money has gone.

Beware The Seduction of Rest

You may feel you don’t need to rush to find income replacement.  And you could well be tempted to take a break.

A break of defined length, a holiday to regroup and think, might be ‘just what the doctor ordered’. Provided you don’t allow yourself to be seduced by rest:

The money alone may make you comfortable enough not to pay too much attention to the fact you may be gradually becoming without purpose – have a ‘bit of a lie-in’ which turns into getting up later and later. Start watching the odd bit of daytime televison but ignore the news (it’s so depressing) and don’t go out much, after all you’re being careful with your money.

Or maybe you’re really feeling ‘gung ho’ and think: “Right – now I can do what I always said I would if I had the money!” You may feel relief, experience a sense of elation and freedom and see this as a wonderful opportunity to do something completely different.

That’s great, yet how often do we hear stories of people who’ve enthusiastically sunk their entire nest egg and energies into a venture with disastrous results?

So a pause for considered thought to evaluate all your “what ifs?” and talking to people who’ve successfully done what you‘re contemplating could well be worth its weight in gold, couldn’t it?

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