Chris Kemper thought she was dreaming when she found out that her grandmother had left her $6 million when she died in October 2010.
But her elation quickly turned to terror when she realized she had no idea
what to do with that life-changing fortune. "I was thrilled and so scared that I
would bungle it," says Ms. Kemper, a 44-year-old finance executive who lives in
Westchester, Ohio.
Despite the bitter economic downturn, one part of the American dream is alive and well: the possibility of sudden wealth.
Examples abound. Consider David Choe, an artist who five years ago decided to accept payment in stock options from Facebook for painting murals in the then-fledgling firm's offices. He stands to realize as much as $200 million when the company goes public later this year.
Then there's basketball point guard Jeremy Lin of the New York Knicks, whose meteoric rise could well lead to vast riches from world-wide endorsements, and the still-anonymous winner of this month's record $336 million multistate Powerball lottery jackpot.
Most, however, who receive sudden wealth will do so through more-conventional means. More than nine million households in the U.S. reported getting an inheritance of at least $100,000, according to the latest available data from the Federal Reserve's Survey of Consumer Finances. Baby boomers—those 78 million people born from 1946 through 1964—are expected to inherit some $8.4 trillion during their lifetimes, according to the Center for Retirement Research at Boston College.
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Despite the bitter economic downturn, one part of the American dream is alive and well: the possibility of sudden wealth.
Examples abound. Consider David Choe, an artist who five years ago decided to accept payment in stock options from Facebook for painting murals in the then-fledgling firm's offices. He stands to realize as much as $200 million when the company goes public later this year.
Then there's basketball point guard Jeremy Lin of the New York Knicks, whose meteoric rise could well lead to vast riches from world-wide endorsements, and the still-anonymous winner of this month's record $336 million multistate Powerball lottery jackpot.
Most, however, who receive sudden wealth will do so through more-conventional means. More than nine million households in the U.S. reported getting an inheritance of at least $100,000, according to the latest available data from the Federal Reserve's Survey of Consumer Finances. Baby boomers—those 78 million people born from 1946 through 1964—are expected to inherit some $8.4 trillion during their lifetimes, according to the Center for Retirement Research at Boston College.
Read more in Yahoo.com >>>
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