Should You Sell Annuity Payments Now?
Annuities can be extremely beneficial investments. Whether you invested in an annuity, have been awarded a structured settlement, or won a lottery or casino jackpot, you’re likely sitting on a stable investment that can provide steady income for a long time to come. So why would you want to sell annuity payments? There are several reasons people sell an annuity for a lump sum payment. The primary motivation for many Woodbridge Structured Funding clients who decide to sell their structured settlement payments is to gain more control over their finances. It’s nice to have an annuity as backup, but when you need that capital for medical bills, a down payment on property, or other large expenses, having it locked up in an annuity can be counterproductive. If and when the need arises or an opportunity presents itself, you have the option of selling your future structured settlement payments. There is no reason to wait when you can benefit immediately by selling all or a portion of your payments for a lump sum and make the money work for you today.
Can You Receive Multiple Lump Sum Payments?
Another reason recipients of periodic payments seek a structured settlement annuity buyer is because they would like to shift some of their annuity into another investment. While your money is tied up in an annuity, you’re locked into a stagnant return. A prime reason people sell annuity payments to Woodbridge Structured Funding for a lump sum payment is so that they can invest in other higher yielding areas. Whether it is stocks or a life insurance policy, your money could be doing more for you if it wasn’t stuck in a single investment like an annuity. It’s your money, and how you choose to invest it should be your decision.
Furthermore, you’re not required to sell all of your annuity payments at once. You can cash out structured settlements in stages, taking out only the money you need, while leaving the remainder of the annuity intact. Another common situation that brings annuity holders to a structured settlement annuity buyer is the potential tax consequences levied against heirs who inherit the annuity. It’s not unusual to sell annuity payments in order to transfer that money into other investment vehicles that are not taxed as highly when transferred from one generation to the next. The decision to sell an annuity for lump sum payments isn’t just an investment in your future, it’s an investment in your family’s future.
Why Wait to Sell Annuity Payments?
Any financial decision should be carefully considered and discussed with advisors and the decision to cash out a structured settlement for a lump sum payment is no different. Before you seek a structured settlement annuity buyer or decide to sell annuity payments, it’s important to consider your current and future financial needs. How dependent are you on the annuity for future income? Can the funds in the annuity be put to better use elsewhere? Keep in mind, there is no need to cash out a structured settlement at once. You can sell annuity payments as it best suits your personal financial situation. You’re never under any pressure to sell the entire annuity; the lump sum should be based on your current needs and goals.
Contact Woodbridge Structured Funding at (866-865-7044) and get your free quote today. Our experienced staff can answer any questions you have about lump sum payments.