Mistakes to Avoid After Receiving Financial Windfall

The following is a collaborative post by Sarah Deacon

Receiving a huge wad of cash is everyone’s dream. But if you do receive a financial windfall, do you really know what to do with it?

A sudden windfall involves coming into a substantial amount of money you may not have been expecting. It can come from an inheritance, cashing out on an investment spike, property sale, winning a lottery, or a lucrative litigation settlement.

One problem with receiving a large sum of money is that people tend to think that they have much more wealth than they actually do, and that it will last forever. Consider how 78% of NFL career players who earn ridiculously high salaries go broke within three years of retirement. No matter how big your windfall is, if you make avoidable mistakes, you can still end up not achieving financial independence.

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3 High Quality Dividend Stocks With 5%+ Yields

dividends

When it comes to dividend stocks, there is often a trade-off between yield and safety. In many cases, the higher the yield, the less secure that payment tends to be, and vice-versa. Intuitively, this makes sense. If a company is only paying out 10% of its earnings in the form a dividend, a whole lot has to go wrong in order for that payment to be in jeopardy.

On the other end of the spectrum, if a high-yield stock is paying out 100% of its earnings as dividends, even a small hiccup in the business can put the dividend in danger of being reduced.

Occasionally, investors can find high dividend stocks that offer both high income today, and a strong underlying business model. The three stocks highlighted here have 5%+ yields along with sustainable payouts.

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Using Monte Carlo For Retirement Planning

The following is a 3rd party contribution

If you’re not sure you have the right retirement plan or worry about your financial future, there’s a way to check. Monte Carlo simulations, which test retirement planning results using a broad range of possible variables, will help you determine if you’ve planned well or you need to make changes.

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The Best POS Systems for Your Business

The following is a 3rd party contribution

According to The Point of Sale User Research Report, 77% of users are satisfied or very satisfied with their point of sale (POS) software. If you’re just starting up a business or you’re one of the 23% who isn’t happy with their POS system, you may be having a hard time deciding which one is really the best. While it may not be as challenging as choosing the right home among Mississauga real estate or anywhere else for that matter, as it is an important business decision you may want to consider one of these options that consistently rank among the top.

The best POS systems have the ability to do more than process sales and accept payments – they can make it easier to run your entire business.

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Practice Makes Perfect Even with Investments

Photo by Timisu / CC0 Creative Commons

The following is a Peco medija contribution

Spending time on your investments isn’t all you have to do to succeed.

You know how the old saying goes; practice makes perfect. And while this is certainly true for artists, athletes, and musicians, is it the same for those of us with investment portfolios? The answer is a resounding yes, and here’s why.

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