Wondering whether or not to sell an insurance settlement for lump sum payments? There are many reasons why getting cash for annuities is the smart move. Woodbridge Investments has nearly 20 years experience helping personal injury plaintiffs sell insurance settlements. The following are three main reasons our clients sell structured settlements, and how they benefit from doing so.
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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 for annuity payments’ Category
When Is It Too Late To Sell an Annuity Settlement?
In 1998, Daniel received a structured annuity settlement in a personal injury case. Though badly injured by a falling power line, Daniel was eventually able to return to his job and continue with his career. Then in 2008, Daniel was laid off. Though he searched hard for a new job, employers were unwilling to hire someone of his age, and Daniel’s hard-earned savings were quickly running out. The structured settlement from his injury was providing a small amount of income, but the payments were too small and too sporadic to help cover his mounting debt. An old colleague of Daniel’s suggested he sell his annuity settlement. Unaware that he was able to sell a structured settlement for lump sum payments, Daniel quickly went about researching the best way to sell his annuity settlement. (more…)
Why Jamie Decided to Sell Annuity Settlement Payments
Sell Annuity Settlements
The decision to sell annuities or structured settlements can be a life changing one. One young woman experienced this when she chose to sell settlement payments to fund her college degree. The summer she turned seven, Jamie attended a day camp near her house. One day while playing on the slide, she fell off a slide, badly breaking her right arm and wrist. Her parents sued the camp for inadequate supervision and won a settlement for Jamie’s hospital care and emotional distress. The settlement was awarded in a structured settlement to be paid out over twenty five years. This arrangement worked fine until it was time for Jamie to attend college. An excellent student, she had received a partial scholarship. But even with the scholarship, out of pocket expenses still amounted to around $20,000 a year, and Jamie’s parents were unable to fund the outstanding balance of her college education due to having to take care of Jamie’s three younger brothers and sisters. Determined to attend college nonetheless, Jamie did extensive research into ways she might be able to fulfill her dream of becoming a doctor. Eventually, she discovered she could sell settlement payments for a lump sum. (more…)
Nine Steps to Selling Annuities for Cash
Selling annuities for cash can take a very short amount of time, but for the most part there is a typical process that happens. Learn how the process of selling annuities for cash works by reading the following nine steps: (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.
Annuity Lump Sum Option Improves Retirement
Annuity Lump Sum Option Improves Retirement
An annuity investment can be an excellent choice for people in search of ways to improve their retirement options. However, if you have either recently invested in or inherited an annuity, you may have come to the realization that you need more cash than what your monthly allowance is presently providing. If so, you should start exploring the benefits of an annuity lump sum. An annuity lump sum can get you the additional cash you need right now without having to sit and wait for your monthly checks to arrive.
Many individuals prefer an annuity lump sum for a various reasons, which may include:
• Freedom to go on vacation
• Settle debts
• Down payment on a new home
• Buying a new car
• Car maintenance and repair
• Home improvements
• College tuition
Annuity Lump Sum Advantages
The most significant advantage of an annuity lump sum is that you will be benefitting from upfront money from this investment when you need it. While a conventional annuity schedule will give you a guaranteed amount of money every month, the lump sum option offers you a lump sum payment right away, you will not need to wait every month for the check to arrive in the mail. Instead, you will be able to enjoy your cash immediately. You can use the cash towards other investments, to settle debts, put your children through college, etc.
Annuity Lump Sum Disadvantages
When you choose an annuity lump sum over a monthly check, you will lose some of your investment to the company that purchases the rest of your investment and you will have to familiarize yourself with the tax laws of your state in order to understand how much you will have to pay in taxes for receiving a large sum of cash. These losses, however, will seem less significant when you think of the convenience of having your cash in hand right now when you sell your payments for an annuity lump sum.
Visit www.woodbridgeinvestments.com to learn more about annuity lump sum options.
Annuity Buyers Can Provide You the Cash Lump Sum You Need
Why Should I work With an Annuity Buyer?
A lot of people look for annuity buyers so they can get their annuity money right away instead of waiting many years to receive it. It’s a good thing that a thriving market of annuity buyers currently exists. These annuity buying companies legally purchase your annuity payments so you can immediately get a quick lump sum payment for your annuity. However, not all annuity buyers are created equal.
What should I know before talking to an annuity buyer?
Quotes can vary greatly and there are some annuity buyers who just aren’t trustworthy. You would do yourself a great service by taking the time to research on your prospective buyers before placing your trust in any one of them.
You also have to keep in mind that majority of annuity buyers offer you flexible terms in which you have the option to choose exactly how much of your payments you need or want to sell. The option of selling just a fraction of your annuity payments gives you a lump sum payment now without losing all of your future annuity payments. More often than not people just wish to be free of the limitations structured payments impose on them and sell the entire annuity.
Is it a good idea to sell to an annuity buyer?
Selling annuity payments can be a very advantageous transaction. The money you receive can be used to either take care of some financial emergency or to start the business you’ve always dreamt of having. There are also those who decide to sell their annuities to fund their children’s education or perhaps help a relative in dire financial straits.
Whatever the need, it is a good thing that there are annuity buyers in the marketplace that you can sell your payments to and get immediate lump sum cash for an annuity. Remember, do your research on the annuity buying company you choose. For more information on annuity buyers visit www.woodbridgeinvestments.com.
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
Bright Ideas When Selling Structured Settlements
A structured settlement is an asset just like stocks or property. The main difference though is that a structured settlement is a lot more versatile when it comes to meeting your financial requirements. If you are considering the option to sell structured settlements, make sure that the sale will serve your best interests. Will a lump sum payment work best for your plans and finances? How will selling structured settlements affect your life? Structured settlement owners have a lot to consider before selling. Here are some tips on how to make the most of a sale. (more…)