• Powerball: How to Manage Sudden Windfall

    by David Strege CFP® CFA CKA® Senior Financial Planner | January 16, 2016

    Powerball Graphic

    The Powerball of over $1.6 Billion finally was won on three separate tickets in different states.  Education is needed for these winners as most financial fantasies do not include the complexities that will come from this much sudden wealth.  Taking some time to learn is needed to avoid being the near 50% of winners whose lives are ruined because within five years they have spent all the winnings, are bankrupt or commit suicide.  There are many physiological factors that occur which Susan Bradley addresses in her book Sudden Wealth.  Below is a link to some of her guidance… good luck tonight!

    Powerball: How to Manage Sudden Windfall

    -David Strege

     

    David Strege CFP® CFA CKA® Senior Financial Planner
    David Strege serves clients as a Senior CERTIFIED FINANCIAL PLANNER™ practitioner at Syverson Strege in West Des Moines, helping individuals and families lay out an integrated personal financial plan to efficiently get them from where they are to where they want to be. He also serves on the investment committee and is chairman of the board of directors. David earned a B.S.B.A. in Finance with a concentration in personal financial planning from Drake University. He earned his CFP® certification in 1982 and in 2008 served as Chairman of the Board of Directors for the U.S.A. Certified Financial Planner Board of Standards Inc. In 1987 he received the Chartered Financial Analyst® certification to better assist clients with their investment portfolios. He earned the Certified Kingdom Advisor® designation in 2017. David served on the Board of Directors for the National Endowment for Financial Education® (NEFE®) for nine years and served as Chairman in 2018.

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