Crisis Events with Severe Consequences

Free CFP Exam lesson in Psychology of Financial Planning. 17 min read, ~2,483 words.

Crisis response: ELP: Empathy, Liquidity, Pause. Lead with empathy, secure cash for near-term needs, defer all irreversible decisions. 6-month rule: no selling the house, no changing investments, no irrevocable elections for at least six months after a spouse's death. Sudden wealth: park funds safely for 60-90 days, build a comprehensive...