Every financial decision should be carefully researched before it is made, and selling a structured settlement for cash is no different. Before getting a lump sum cash payment for your settlement you should consult with a trusted financial advisor. Consultants can be expensive, however, and understanding the truth about structured settlements before you meet with your advisor can save you time and money. Here are three common cash for settlement myths exposed:
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"Winning the lottery was a completely amazing experience... Woodbridge Structured Funding, LLC helped make my dream a reality."
"Winning the lottery was a completely amazing experience... Woodbridge Structured Funding, LLC helped make my dream a reality."
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Archive for the ‘cash advance for settlements’ Category
Cash Out Structured Settlements: A Gift for the Granchildren
There are many reasons to cash out structured settlements. Deciding whether or not to sell structured settlements is an important decision to be made by those considering their estate planning. (more…)
How Selling Structured Settlements for Cash Saved Brenda’s College Career
Why Sell Settlement Payments?
No matter how hard you work or how carefully you plan, unforeseen events can change your life—often dramatically. No one expects to be injured in an accident, and few are prepared for the host of hurdles that accompany a personal injury lawsuit. While a structured settlement might seem like the end of the process, for many, it’s the beginning of a new set of challenges in their lives. Fortunately, you can sell structured settlement payments, and many find selling these payments for cash is the answer to their financial troubles. (more…)
How to preserve a lump sum payment of cash
5 Tips on how to stay rich after selling your structured settlement, annuity payments or lottery winnings for lump sum payment
Selling a structured settlement, annuity payments or lottery winnings can certainly be daunting. No one knows what the next ten, twenty or thirty years may hold, thus it is a common belief that selling regular payments is like selling your safety net.
Despite this belief, receiving a lump sum of cash will not necessarily leave you high and dry, although you do need to be careful managing your newfound wealth. You might want to sell structured settlement payments, annuity payments or lottery winnings in exchange of a lump sum of cash, but this doesn’t mean you have to be scared of having your money run out before you’re ready.
How not to spend your entire lump sum of cash right away
Get an accountant
With your new lump sum of cash, you should be able to afford to hire an accountant. This is a very worthy investment to get professional advice and avoid any unnecessary fines, settle any tax issues and establish a long term plan for your money.
Pay off all of your debt before your spend that lump sum of cash
Debt is not something that you want to deal with when you are no longer receiving steady payments from your previous structured settlement, annuity payments or lottery winnings. Make this a priority so you will know exactly how much spending money you actually have.
Keep your day job, or at least get a new one
As mentioned before; you never know what could happen over the next decade or three. It should always be a goal of yours to continue increasing your net worth, or at least not letting the number slip to something negative. Keep your job to maintain an additional stream of steady income. If you just can’t stand your current job, at least use your new financial freedom to take some time off and begin a new venture making money by doing something you are passionate about.
Avoid gambling with your lump sum of cash
Hopefully the thing you are passionate about is not gambling or taking on high risk financial investments. Taking on high risk investments or gambling with the lump sum of cash you just got is a surefire way to loose the money you would have had with each new structured settlement, lottery or annuity payment. Note: Chances of receiving lottery winnings twice in life are even more slim than winning once. Protect your assets.
Invest your new lump sum of cash
Whenever you sell your structured settlement, annuity payments or lottery winnings, you usually have to sacrifice a portion of the ultimate amount in order to receive that large lump sum of cash. If you invest what you get in a smart way, you might be able to make back all of that money and then some.
If you are selling a structured settlement, annuity payments or lottery winnings, consider getting a free quote about how much you could get in a lump sum of cash by visiting our free quote page.
Lump Sum Annuity Payment – Pros and Cons
Receiving a lump sum annuity payment like everything else has its pros and cons. Here we’ve laid out a few of the benefits of getting a lump sum annuity payment to help you decide if it’s the right choice for you.
Pros of a lump sum annuity payment
If you choose to sell an annuity for a lump sum annuity payment; you have immediate access and greater control over your money. Selling annuity payments does have some flexibility in terms of how you sell. You can sell all your annuity payments for a larger lump sum or you can draw whatever amount you wish by selling only a portion of your payments. If you should require a bit more money for any reason down the road, you can always sell additional future payments.
Getting a lump sum annuity payment gives you immediate access to a larger portion of your money. Many people who sell annuities use that money to invest it in a new business venture or in financial investments that grow their money more aggressively.
A lump sum annuity payment can also be used to help pay for your children’s or grandchildren’s college education. Your money suddenly becomes very accessible through a lump sum annuity payment.
Cons of a lump sum annuity payment
More flexibility also means more responsibility. You must make sure to invest and manage your money in such a way that it will neither run out during your lifetime nor fall down because of inflation.
It’s also vital to keep in mind that, while you do have greater control if you choose a lump sum annuity payment, it is still not total control. You cannot decide what returns the financial markets will bring or how well a new business venture will do. Sell your payments wisely and make sure you have enough for retirement.
Selling in exchange for a lump sum annuity payment can present risks like the ones above, but can also reap more rewards if that lump sum cash is invested wisely.
If you are not comfortable researching on your own, consult a financial planner or call or visit Woodbridgeinvestments.com for additional information on selling an annuity for a lump sum payment.
Don’t fall into a financial pitfall.
Financial considerations for after you sell a structured settlement, lottery winnings or annuity payments
Selling your structured settlement, lottery winnings or selling an annuity payment by no means automatically suggests that you are not financially planning for the future.
Yes, there are many pitfalls that one can fall into after selling a structured settlement, lottery winning or annuity payment, but these can easily be avoided just by keeping a few pointers in mind.
1) Sell up to the budget that’s needed
Take some time before you sell your structured settlement, lottery winnings or annuity payment to set up your own budget and identify how much lump sum money is needed. Sell only the portion of payments that’s needed to fulfill this budget. Most Structured settlement companies will allow you to sell a portion of payments and if you need more at a future date you can sell your remaining payments
2) Determine long term and short term financial goals
Just because you should budget does not mean that you shouldn’t take advantage of the large amount of money you just got by selling a structured settlement, lottery winnings or annuity payments. Go ahead and enjoy, buy a new gift for yourself. However, don’t buy a car or boat right away if that wasn’t in your budget. It is good practice to limit what you spend a large amount of money on right away so you can see what the rest of your new spending habits are like. You might realize that you just can’t help going out for a lot of fancy dinners. Take some time to slowly evaluate what you want to spend your money on.
3) Think outside the box about spending
Right now your financial responsibilities may be limited. Think also about your future. Don’t forget that down the road you may have other people in your family or close circle of friends that you might need to take care of financially. Before you start spending the money you just got, make sure you cover all your bases and try to anticipate all of the large expenses you’ll have to cover in the next five or twenty-five years.
Selling a structured settlement, lottery winnings or selling annuity payments can be a great and fiscally responsible thing to do, as long as you take all aspects of managing your finances into consideration. For a free quote on how much money for future payments you can get, visit our free quote page
Cash Advance For Your Settlement Payments
You can get a cash advance on a lump sum of money for your settlement.
When you have decided to sell your settlement payments, you will typically need to wait 30-90 days to receive your lump sum payment.
Although you are about to receive a lump sum for your payments, you may find that unexpected bills or a family emergency can produce a need for immediate cash now.
You can find out how soon a cash advance is available by first getting a quote. After you have received your quote, you have signed a contract, and your payments are verified, you can usually expect to obtain your cash advance in as little as 10 days!
Woodbridge Investments can get you the most for your money, and get you the cash advance that you need. Call 1-866-865-7044 toll free today.
You can also get a quote immediately online by visiting http://www.woodbridgeinvestments.com/quote_form.php