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Don’t Make These Common Mistakes When Receiving an Inheritance
Manage episode 461056452 series 3561293
المحتوى المقدم من Impact Partnership and Mike Douglas. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Impact Partnership and Mike Douglas أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
Many people make costly mistakes with inherited money, leading to financial struggles in retirement. In this episode, Mike Douglas discusses that when receiving a large sum of money, like an inheritance or lottery winnings, it's crucial to manage these funds wisely to secure a stable financial future.
Mike challenges the notion of quickly paying off debts and considers how the money can generate ongoing revenue. He gives the example of investing the amount and using the interest to pay off debts and preserving the principal to provide steady income.
Ready to begin building your customized retirement plan? Visit MichigansRetirementCoach.com to schedule an appointment with Mike and his team today!
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