“What would you do if you suddenly had a million dollars?”

Everyone’s asked the “What if” question when it comes to financial windfalls. Receiving an unexpected sum of money is something we dream about. And sometimes, monetary surprises (and annual events) do happen: you receive an annual bonus, your restricted stock vests at work, you inherit money from a loved one, and, yes, you may even win the lottery.

Whatever the source of these windfalls are, they require special attention. You may think you’d know exactly what you’d do with the money, but that’s part of the potential pitfall. Most of the time, handling large amounts of money isn’t a normal part of our everyday lives. Suddenly, doors that were shut are now open to you: taking that dream vacation, paying off your mortgage, or even starting a new business. The temptation to spend your money fast is strong and may lead you to make decisions you’ll regret.

So..what to do with that financial windfall?

When you get a windfall, the crucial first step is to slow down. Susan Bradley, an expert in financial transitions, advocates for creating a “Decision Free Zone” in her book (Sudden Money). Bradley says that putting the brakes on making any decisions with your money will help you achieve what you really want in the long run. Before spending a penny, it’s important to take the time to think about how your windfall fits into your financial goals (or changes them). Unless there’s some external deadline you need to meet, you’ve got all the time in the world to make an informed decision.

Finding trustworthy people to advise you is equally important to the process. Whether it’s an attorney or a financial advisor, you should choose someone who can help you manage your newfound wealth. They’ll bring a much needed outside perspective that will help you achieve what you’re really after.

These windfalls can be watershed moments in your life. Small windfalls can be building blocks to achieving the type of life you want while large windfalls may mean that you have a lot more freedom and choice than you did before. As Spiderman knows, “With great power comes great responsibility.” With the newfound power you get from a financial windfall, you’ll benefit from taking it slow.