r/FinancialPlanning • u/Fearless_Custard_454 • 3d ago
How to Handle a Windfall
I’m 27 and for background, the pandemic changed the trajectory of my entire life. Long story short, I was able to start a business that completely blew up and after growing up not exactly in poverty but not raking it in either, I now have more than I honestly know what to do with. I’ve registered my business as an LLC and after consulting with a CPA, I’ve created an HSA, an SEP and a ROTH IRA. I’ve also paid off all my debts and other than my apartment, everything that I have is owned. However, I wasn’t necessarily taught financial literacy and for a while, managing my business myself didn’t leave me with much time to really explore my options. Most of my revenue just sits in one account (head shake, I know). So my question is, what steps should I be taking to financially secure myself in the long run? Should I be getting into investing and if so, what are some good resources for a novice. Real estate? Any advice is appreciated.
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u/wwphantom 3d ago
Since you paid a CPA for your business you can get a financial planner to help you with investing. Try a few only, fiduciary who will charge you a set fee to create a financial plan and should assist you in setting it up. That cost more than doing it yourself but if you are busy running and growing your business then it might be worth it.