Denzel Rodriguez breaks down how to handle a large lump sum like $176,500. Start by treating it as not entirely yours, fix immediate problems first, then find ways to make each dollar work multiple times. Paying off what's weighing on you is valid too.
$176,500
I get a lump sum of money, $176,500. I personally will pretend like I didn't get all of this money. So that's like the first framework is I'm. I'm acting as if not all of that176.5 is mine. Step one, step two is what are the immediate problems, challenges, obstacles in front of me that I can remove with money? Third of those obstacles and challenges that I'm facing that are right in front of me. How can I. This is where the strategy comes into place. How can I get more than one use of this dollar to handle that expense, handle that immediate challenge obstacle in front of me, yet still retain my dollars over the long haul? So step three is more comprehensive. You have to think a little bit more outside the box. And oftentimes the third strategy will have a delayed reward to it where you have to see the full context of the situation to see the results versus you just directly sending your money to the problem and now it's gone. That could be valuable for people listening to that are not confident in receiving 176,000 in one shot, that are not confident that they're going to do the right things with that money, that they're going to do the best things for themselves. I would say sometimes sending that money directly to that problem and just you're done with it now, you increase your cash flow, it's off your back, the burden is gone. I'm not against that.
