15 Mar How to Sell Your Structured Annuity and Get Cash Instead
Selling off your structured settlement annuity can net you some serious dollars, seriously quick. Many people are finding that a structured settlement annuity and other, similar financial rewards awarded over the course of several pay installations are not always as helpful as they’d hoped. After all, if someone told you that you’d won $100,000, your mind would probably jump to all the things you would like to do with the money. Therein lies the problem — you’re not getting your hands on the entire $100,000 anytime soon. Not the total amount of it, anyway.
An annuity is essentially an installed payment. If a court were awarding you this money, they may opt to only pay you ten percent of it per year, so you’d be receiving $10,000 installments once a year until the total of the balance owed was paid off.
Not bad, really. But not great, either.
You’re still getting your money, but it can take years or even decades for annuities to resolve, meaning your payments might not be significant enough for you to feel like you came into any money at all. How would you handle say, a down payment on a house with such small installations of your cash? It’d be very tough, as studies show. Consider this: roughly half (48%) of all lottery winners still continue to work after winning the lottery. Why would they, you ask? Because the lottery also awards its winnings as an annuity — often times the terms of which take 40 or more years to resolve. The government also typically takes around a quarter of all winnings right off the top.
You’re probably thinking, “But I’m not waiting 40 years for only 75 percent of my own money to show up!” Frankly, you shouldn’t have to. That’s why people are so wild about selling off their lottery annuity, and getting cash for structured settlement payments instead. If you feel like putting yourself through school, purchasing a new car, paying your way out of debt, or treating yourself to something nice, you’re going to need a lot more than some menial paychecks dished out to you once a year for the rest of your life. Reach out to a company that purchases structured settlements and get your cash today, not sometime in 2045!