7 steps to handling a large amount of money

Learn the 7 steps to handling a large amount of money to make sure you do not loose it or have it taken from you.

What would you do if all of a sudden you had a large amount of money? I would bet a dime to a donut that this has not only crossed your mind but you have spent more than just a little bit of time thinking about it.

Well let’s see.

Number 1. Ask God for wisdom because a fool with money will be destroyed. Without wisdom you will not have your money very long he will also have nothing to show for it.

Number 2. How about for starters maybe we should think about paying taxes on it, and that will take probably somewhere between 50% and 60% of it. Find yourself a good tax attorney who will probably be alluded do little things such as income averaging and could lower your tax bill between 10 and 20%.

Number 3. Tithe. The first 10% belongs to the Lord, remember?

Number 4. Pay off your credit cards. Getting rid of all the high interest debt would be a major blessing to most people.

Number 5. Pay off your house right away. This is going to take a big chunk of after tax money but years from now you will be glad you did this.

Number 6.  Take a vacation. You will need some time away from home and everyone who is wanting a piece of your money, to talk to your spouse and decide what to do with the rest of the money.

Number 7.  Remember, your new friends (and you will have new friends) may be more interested in your money than they are in you.

Jimmy says, money is a wonderful thing but wisdom is the key.

Whoa Jimmy?

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Handling a large amount of money is a big task and if you have any experience please share with our readers in the comments.