Got a lump sum? Eight decisions to make before you move the money.

Where do you stand? Tick what you have already dealt with.

Be honest. The boxes you leave empty are exactly where wrong products and rushed decisions get in.

• 1 Pause before you move it Urgency is the sales tool. Park the money somewhere safe for 30 days before any irreversible decision.
• 2 Know your real number After tax, fees and instalments, the figure you can actually use is rarely the headline one.
• 3 List what the money is competing against Debts, goals and obligations all want the same dollars. They are not equally urgent.
• 4 Secure your safety net first A buffer stops one bad month turning into a forced sale or new debt.
• 5 Protect what you already have A lump sum changes your estate and risks. Wills, beneficiaries and cover may no longer fit.
• 6 Give every dollar a job and a timeframe Now, soon and later money need different homes. Match the risk to when you need it.
• 7 Check the rules before you choose the product Access, tax and fees differ hugely between products. The brochure will not tell you which suits you.
• 8 Choose who advises you, and check how they are paid Who is paid, and by whom, shapes the advice. You are entitled to know first.

A checklist tells you what to ask. A plan tells you what to do.

If you left several boxes empty, that is normal, and it is the reason a written plan exists. See what a Statement of Advice looks like, or read how I help with a lump sum.