Episode 61: SWAT - a podcast by Fixed Cost Financial
from 2019-06-11T06:00
Notes
Sudden Wealth Syndrome
Distress due to sudden wealth
Large sums of money
Suddenly wealthy.
No experience doing the things needed
Before no budget, no record keeping, not knowing where to start
SWAT created for those who hit the big times but have no idea where to start and basically need a 2 by 4 across the head to wake up, pay attention, and to get down to business knowing it will be ok, but there's things to do.
Feeling isolated, former friends, turning backs, asking for handouts, feeling guilty'
You're not one of us anymore.
The maturity to reject them. If you can't you will be on the road to it's all gone
Fear of losing it all
Therapists, real and fake.
Fake Financial therapists who are there to hug and mug with commissions
Inheritance, Trust, metering it out
Sports, Lottery
Confusion comes with wealth, key, you get a decent size tax return, what did you do with it?
Spend it, pay off debt, invest it
What you did with prior bonuses and lump sums is an extremely strong indication of what you will do with the big one
Honeymoon: Like the honeymoon phase of a love relationship, people who first come into money feel powerful and invulnerable
Many go on spending sprees, buying things and making risky investments (often with disastrous results)
Minting Meaningful Mindsets. Clients. Series. Minting Millionaire Mindsets, Minting Mature Mindsets, Minting Monumental Mindsets. Maximize Mindful Missions, Minimize Mindless Messes. This is what SWAT training is all about and what our long-term client 3M program is all about.
What is the future, what do you want to do?
Instantly wealthy often results in instant insanity.
Beware of those who are selling the psychology of wealth to get you to buy high commission insurance and high cost schemes involving assets under management.
You are required to change
Action Plan
Affluence isn't easy,
Achievable and unachievable goals.
Links
11 Retired Players Still Being Paid by Their Old Teams
Why the Mets pay Bobby Bonilla $1.19 million every July 1
Connecting Dots Schedule
Monday - Questions
Questions from clients and future clients of Fixed Cost Financial, Inc.
Tuesday - SWAT
Sudden Wealth Awareness Training
A discussion about sports and entertainment contracts, inheritance, litigation settlements, lottery wins, 401k, 403b, 457, deferred compensation, or lump sum pension distributions, and/or life insurance settlements.
Wednesday - Business
You are a lifestyle business and your lifestyle is business. If this describes you or if you want to think like a business person, Wednesday's podcast is for you.
Thursday - 3M
Tune in and tune up with our Minting Millionaire, Mature, and Monumental Mindsets. For all ages, incomes, net worths, education levels, occupations, races, sex, or national origin. These episodes are not suitable for buttercups or snowflakes.
Friday - Wrap
Reviewing people, places, and events from the past week and forecasting based facts, figures, and logical bets.
Saturday - Deep Dive
Buckle up and settle in for a deep dive into the world of connecting dots from those who do forecasting for a living. Deep dives are conversations that don't just tell a story but are designed to make one think beyond the traditional boundaries that hold many back. Unsettling, provocative, controversial, and sometimes weird, nothing is held back as patterns from chaos appear.
Sunday - Shows, Movies, and Videos
A relaxed review of a show, movie or video for the purpose of highlighting business principles. Listen to the podcast, take a few notes, and then watch with a different perspective. If you ever had a teacher or professor show a movie during class, the purpose was to engage and learn, not entertain and sluff off. Sundays are for learning beyond textbook based upon teachable moments in shows, movies, and videos.
Further episodes of Connecting Dots
Further podcasts by Fixed Cost Financial
Website of Fixed Cost Financial