Robert Interviewed For CNBC: Don’t Let Sudden Wealth Leave You Broke

Robert Pagliarini recently appeared in an article on CNBC entitled “Sudden Wealth Can Leave You Broke.” Read an excerpt from the piece below, then check out the full article on CNBC.

*****

Most people want to start spending their money right away, and their list of desires is long. Delaying major life-altering decisions, such as moving or quitting a job, can put the brakes on impulsive behaviors.

“Use the decision-free zone to sort and organize,” Bradley said.

Robert Pagliarini, a certified financial planner whose firm, Pacifica Wealth Advisors, specializes in serving clients experiencing a windfall, also cautions against too many big decisions.

The author of “The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth,” Pagliarini also has a master’s degree in clinical psychology and explained that sudden money often leads to depression.

“We take ourselves from what feels comfortable … and put ourselves in a brand-new environment,” he said. By moving, people leave their communities and join ones where they are not yet rooted. Taking up expensive hobbies like travel means less-well-off friends can’t participate.

“It’s really hard to keep those relationships,” Pagliarini said.

Family and friends may also come out of the woodwork asking for a share of the windfall. A decision-free zone provides an inoffensive way to tell them you’re not making any financial commitments just yet.

Read the full article on CNBC

Let’s start a conversation.

We welcome your call (949-305-0500) or email.

Send us a message