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Why not sell annuity payments

Seems like a no-brainer. You’ve got these structural settlement awarded to you as part of a personal injury. Sure, you can get regular payments, but you have to wait to get all the money that you are.

And then you see a company that promises fast cash is to sell your annuity. You can think about all you can do with a lump sum of cash. Can do much more with the money now, but wait for it? Why not sell?

You need it. If, say, 200 years old, and I don’t think you long for this world, selling might make sense. But the whole point of making you wait to pay an annuity to ensure that you don’t spend it all. If you are injured, especially if you are now unable to work, that the annuity is intended to ensure that the money will be available to meet the medical and living expenses. Otherwise, you just don’t know what is coming next.

You’re spendthrift. How many times I saw a news story about some rock or movie star who has racked up millions overnight, and spent them even faster? With all this money, you’d think they could hire an army of financial advisers to monitor those cash flows.

You do not have millions. If it looks any money you get to burn a hole in your pocket, if you are easily seduced by advertising fancy cars or jewelry, or if you were to buy (and a lot of buyers remorse), think twice before you sell your annuity. It meant an annuity will protect you - not only of creditors or medical bills, but of yourself.

You do not have a good plan. What you intend to do with the money you get from your structured settlement? You should know in advance that you are now in the net sales less than you’ve got over time, and you won’t get anywhere near the original settlement amount.

Are you planning to pay debts? If so, will the proceeds from selling your take care of your debt once and for all? Or will still have to pay the Bills? Is there no other way to restructure or pay what you owe?

Do you plan to finance the business? If so, how solid your plan? This is the established industry, or anything new and exciting. And really risky? Companies even fail-don’t do. And when you lose, how will you make ends meet?
Are you planning to invest elsewhere? If so, you won this investment returns guaranteed discount rate (the interest rate reversal to get your cash now)? If not, maybe this loser. High investment return, the higher your risk.

Annuities are designed to protect you and your needs for many years to come. If it disappears, how will you manage? If you can’t answer this question, you probably shouldn’t sell.

See also:


Why not sell annuity payments
- Sell your annuity. - Structured settlements. - You could sell an annuity for cash payment. - Understand the process of selling a structured settlement annuity. - Get good advice to sell your structured settlement. - What can derail your sell annuity structural adjustment. - Before you can sell your annuity structured settlement read this!. - Why you need objective advice before you sell your annuity structured settlement. - Purchase my annuity payments. - Why not sell.
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