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Financial Advisor Matt Logan Explains What To Do With Sudden Wealth

3:37 PM, May 18, 2013   |    comments
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Greensboro, NC -- What's the first thing you would do if you strike it rich?

Maybe someone left you a load of cash in their will or maybe you won some big money at the casino recently. A local financial advisor says there are six rules you should follow when you come into sudden wealth.

Matt Logan of Summit Brokerage Services put together a list of rules that might make the process a little clearer.

Rule #1: Do nothing immediately with your money.
Rule #2: Consult a financial planner.
Rule # 3: Focus on debt and cash.
Rule # 4: Keep your job.
Rule # 5: Learn to say "No."
Rule # 6: Spend a little.

Logan goes into more detail with Faith Abubey on the Saturday Morning Show. Click on the video to watch the interview.

Matt Logan Inc. is an independent firm with securities offered through Summit Brokerage Services, member FINRA and SIPC and advisory services offered through Summit Financial Group.

Matt Logan, Inc.