Windfall Fallout

Wright-Bernstein has been bought out and the company is undergoing a massive restructuring. Many of the executives are being made redundant as their work will now be handled by the new owners headquarters. 

What they didn't realise is that three executives had small print clauses that triggered very generous parachute payments. The three come out of the situation in good health financially. They walk out of the company and immediately decide to celebrate. 

Ruth: I can retire if I want to, not that I will. It's just nice to clear my mortgage, update the car and have a nice holiday.
Candace: I'm doing exactly what you're doing. I never knew being made redundant could feel so good.
Abel: I will start looking for a house. My fiancé is not happy that we cannot afford a decent place. She has expensive tastes, so I can now meet her expectations. 

They go their separate ways home, looking forward to reaping the benefits of their windfall. How does each one fare?

***

Ruth goes home and rings her parents to tell them the news. She says tell no one but as they say, loose lips sink ships. Her sister, Megan, gets to hear of it and visits. 

Megan: So sis, I hear you have done well for yourself?
Ruth: Er...yes, exciting, isn't it? I can clear my mortgage and treat myself to a few things.
Megan: Alright for some.
Ruth: Aren't you happy for me?
Megan: You are now in clover, while some of us have to toil to get nowhere.
Ruth: You sound jealous.
Megan sarcastically: You don't say? Is any of this windfall going to filter down to the bottom feeders in your family?
Ruth: What do you want?
Megan: A bit of fairness.

Ruth: Fairness? I was made redundant and got a golden handshake for years of hard work.
Megan: Just because you're lucky doesn't mean you should hoard it.
Ruth: I'm not hoarding it either, I'm planning for my future.
Megan: Your future. Not our future? Not the family?
Ruth: We are adults, Megan. You have your own life.
Megan: My own life involves a leaky roof and a car that sounds like a tractor.
Ruth: Oh, for heaven's sake. The money will only stretch so far. I'm being practical. 
Megan: Practical? That's just another word for stingy when it comes to your own flesh and blood.
Ruth: You've always done this. Every time I achieve something, you find a way to make it about your struggle.
Megan: Maybe that's because my struggles are actual, tangible problems, while you've always had things go your way. 
Ruth: I've worked hard for what I have. Nothing has been handed to me.
Megan: I'm sure you'll sleep very soundly knowing your sister is still struggling.
Ruth: Stop it. Just stop.
Megan: Fine. Enjoy your riches. Just don't come knocking when you realize money doesn't buy friends.

Ruth realises her good fortune has strained her relationship with Megan. She wonders who else will be knocking on her door, wanting a slice of her good fortune. 

***

Candace decides to move to a swanky apartment in the centre of town, buys an expensive car and has an overseas trip. She still has some money over, so she feels in no hurry to find another job. 

What she didn't factor in was that the maintenance and operational fees for the apartment are significantly higher than she realised. The money is dwindling, so she needs to get back into the workforce faster than she anticipated. She goes for job interviews, her work record hopefully enabling her to get another well paid job. After several knockbacks, she arrives at another corporation.

Candace: This is my CV, covering my work experience. 
Interviewer looks over it: You are certainly experienced, but the position you would be qualified for isn't available. What we can offer you is another position that is below what you're seeking. It gets you a foot in the door, and when a promotional position is available, you will be considered along with other candidates. This would be your remuneration. 
He slides a piece of paper over to Candace. She picks it up and looks at it. The number is enough to service her expenses, but nothing much left to enjoy some nice things. 

Candace: That is less than I was hoping for. Is there nothing that you can offer that is more in keeping with my work experience and what I can offer your company?
Interviewer: That's the best I can do. I'm actually going out of my way to get you into our firm. We technically don't have an opening, but I'm creating one as I see your potential. There is no other offer on the table.
Candace senses she risks getting nothing and after all the other knockbacks, cannot be too choosy.
Candace: I appreciate your willingness to accommodate me. I'm more than happy to accept your offer.

Candace then decides to sell her apartment and move down to something more affordable. The expensive car would lose too much if sold, so she is stuck with it. She rues her impulsive spending without fully investigating whether it was affordable beyond the initial purchase price.

***

Abel is so happy that his fiancé Becky will finally have the home she expects. He decides not to mention it for a while as he absorbs the implications and challenges of managing it. He is in his rented home one morning with Becky, who isn't too happy.

Becky: So when are you going to find another job, Abel? Money doesn't grow on trees. It's been a week since you were let go from your job, and you're not even stressed or concerned.
Abel smiles: It's all going to be fine. I have it in hand. 
Becky: Are you serious? How will we get anywhere with you unemployed?
Abel: I'll start job hunting soon. I just need to destress and relax for a short period.
Becky: You can't just relax when we're in this position. We need a real home, not this rental, and I can't keep imagining a future where we're barely scraping by because you're unmotivated. I don't know if can take much more of this. I want a man who can provide, not just allow us to survive.

Abel is worried he will lose Becky, so he decides to come clean and he tells her everything.
Becky: A redundancy payout? How much?
Abel: Enough to buy a house for us.
Becky: Are you kidding? Why didn't you tell me this sooner?
Abel: I was shellshocked and wanted to think about what to do with it. I think a knee jerk reaction is not the best way forward, and I was concerned you'd have it all planned out before I could think clearly.
Becky: Well, I've been stressing out and you've been keeping this from me?
Abel: I'm sorry, but now you know.
Becky: We can now actually afford a place of our own? A proper home with a garden and everything? Our home!
Abel: Yes, we can. But we can't go overboard. Until I know what my next job will pay, I don't want to over commit.
Becky: Why would we worry about a job when we have this windfall? You'll get a job. We're buying a nice home.
Abel: I think we should be more realistic. Let's look at options first.
Becky isn't listening: We are going to find our dream home. This changes everything!

Abel realises that he had better get a good paying job soon. The money will be used to upgrade everything. Back on the treadmill, Abel.

***

A sudden financial windfall can be a great help but needs managing. A cooling off period of up to a year before making major decisions is advised. Put the money in a low risk bank account or term deposit while planning what to do. Limit who you tell about the money to reduce negative reactions. Seek independent financial advice, while being aware that such advice can backfire. 

Perhaps the most important thing: Keep one's life as simple as possible and understand that money doesn't buy happiness.