Congratulations for receiving or negotiating a severance package or financial windfall! Severances are not mandatory in many countries, therefore anything you get beyond $0 is a bonus. Hopefully you’ve used the strategies I’ve outlined in my book to get the best severance package possible.
It’s not just the financial windfall that’s so great, it’s the fact that people feel empowered to finally take control of their lives. From the working mother who gets to spend more time with her kids, to the guy who absolutely can’t stand his micromanaging boss, each story is different.
I’d like to discuss ideas for how to spend your severance wisely. This post is pertinent to anybody who has or will receive a financial windfall e.g. inheritance, lottery, legal win, bonus, severance, etc. I’m going to also share with you what I did with my severance and the thought process behind each decision. By the end of the article, you should have a better idea of how to mobilize your money.