Post by Myra Salzer
I’ll continue my series of blogs covering the common mistakes surrounding transferring wealth with Mistake #6, Not Giving Yourself Time to Mourn When You Inherit. If you have not already done so, I invite you to read Mistake #1, Mistake #2, Mistake #3, Mistake #4. and Mistake #5.
Mistake #6 – Not Giving Yourself Time To Mourn When You Inherit
What do you mean “mourn?!” That’s the craziest thing I’ve ever heard of! Why would you “mourn” when you’re receiving a lot of money? Aren’t you supposed to celebrate?
Actually, that’s the widely held belief. The truth is, however, that when someone inherits enough money to significantly change their financial circumstance, their life changes. They can never go back to the life they knew before they received their inheritance. If they don’t take the time to mourn the loss of the life they had known up until that point, they’re likely to make poor decisions with their inheritance.
Susan Bradley, of the Sudden Money Institute, aptly coined the phrase “decision-free zone,” and it’s the perfect thing to allow for yourself until you’ve gone through the mourning process. Only make those decisions that must be made because they are time-sensitive. Your mourning process might last a week, a year, or longer. You’ll know when you have come out of the mourning process when you see new possibilities and new ways of being with your inheritance. When you get to that point, you will have begun the process of integrating with your wealth and you will be on your way to allowing it to support you however you want; instead of letting it become a burden that limits your freedom, it will enhance your freedom.