Learning that you are going to be the recipient of a sizable inheritance can leave you with some pretty giddy emotions. Nearly everyone loves the feeling of financial security because money is required for so many facets of life. You know the cash is on the way and are excited about your newfound prospects. Maybe you're thinking about splurging on your dream car or can't wait to take a luxurious vacation.

When many people think about financial planning, they focus on building assets like bank and retirement accounts or buying a home. But your financial plan also includes debt, and how you manage this can do much to either improve or hamper your finances. Here's what you need to know about debt and your financial plan. Should You Avoid All Debt? Some people accept all forms of debt as a part of life while others avoid it at all costs.

A wealth management advisor is someone who is there to help you with more advanced financial issues, such as managing your overall investment strategy, both your retirement and non-retirement investments, and helping you manage all of your assets. A wealth management service often works together with other professionals who are assisting you, such as an accountant and a lawyer. 1. Wealth Management Is For Those with Money Wealth management services are not designed to assist someone who has a couple hundred thousand dollars to manage their wealth better.