Tel: 780-945-5230
Tel: 1 800-661-7423

Address

BMO Nesbitt Burns
800 Manulife Place
10180 - 101 Street
Edmonton, AB
T5J 3S4
Map

Contact Us

A Sudden Financial Windfall: Blessing or Burden?

Posted on: December 12, 2018

A windfall can be defined as the unexpected or unplanned acquisition of financial assets that alters the recipient's financial position. This can be a welcome surprise, but the pressure of managing and dealing with a significant amount of money can also be an unforeseen burden.


There are many ways to get a windfall. Winning the lottery is the most obvious event that comes to mind, but this accounts for a very small percentage of individuals who have experienced a financial windfall. For most, however, the most likely sources of significant and abrupt gains of money are an inheritance, a settlement due to divorce or injury, the sale of a business, or an insurance payout.


BMO Wealth Management commissioned a survey to gain insight on how North Americans aged 35 and over would act and feel if they suddenly became wealthy. The results of the survey were analyzed, and accompanying advice provided in the new BMO Wealth Insight – A sudden windfall. A blessing, not a burden.

Download the full report

Download the infographic
 

Next