Cover Story

FOUR RULES FOR INVESTING A WINDFALL

Sept/Oct 2001 ROBERT GLOVSKEY '73
Cover Story
FOUR RULES FOR INVESTING A WINDFALL
Sept/Oct 2001 ROBERT GLOVSKEY '73

FINANCIAL GURU

RULE I: Don't go nuts. It's all too common with lottery winners, and you've seen it with athletes. They're putting wants ahead of needs. They spend it all and then they're out of money. So, first know your needs: Do you need money for the education of your children or to secure a comfortable retirement? Cover that first. After that, more power to you. Have a good time.

RULE 2: Set some goals. Quantity the' dollar amount you need and the ti me frame you have. If you need money for your kids to go to Dartmouth and they're 17 and 15, you'll need to set aside that amount in a safe place. Same thing if you owe taxes. Money for longer term is what you want to invest. Decide your asset allocation—the higher your allocation to equities, the more aggressive the investment strategy. So if you're 30 and you have the goal of retirement, you want to be aggressive. That's assuming you can sleep at night.

RULE 3: Plan your estate. The fun part of money is investing, figuring out whether Qualcomm is going up too times in value. The serious part is estate planning. Make sure you have all the proper documents, the trustees, the right charitable elements, the retirement plans with the proper beneficiaries.

RULE 4: Get a financial planner. For all of the above.

Robert Glovsky

Glovsky heads Boston-based Mintz Levin FinancialAdvisors, LLC, and hosts The Money Expert radio call-in show weekdays on WBIX in.Boston.He has been named one of the nation's top financialgurus each of the past four years by Worth magazine. Glovsky majored in government.