Have you been reading our blog? Have questions or comments but you’re afraid to ask? Don’t be. We are here to help you as much as we can. In fact helping people is one of the biggest reasons we are in business! Every day people fall deeper into debt for a multitude of reasons and feel as though they have no where to turn. If that sounds like you and you have a structured settlement, lottery winning, jackpot or annuity payments, you can turn to Prosperity Partners. We can take a look at your particular situation and work with you to find the best solution. You are not alone and you can count on us to be there for you through this difficult time.
So, comment away! Ask those questions - we welcome them! Even if you are not sure this is right for you … wouldn’t you rather ask then pass up what might be the best thing you ever did?
Structured settlements are not the most flexible financial vehicle for you as the recipient of the payments from the structured settlement. Selling Your Structured Settlement Payments Puts You In Control
The problem with structured settlements is:
- You are not given the benefit of flexibility
- You do not have immediate access to the full amount
When Might You Consider Accelerating your Settlement Payout?
There is no right or wrong time or reason to sell your annuity payments. It all comes down to what is in your best interest. People decide to access cash by having Prosperity Partners buy their settlement payments for many reasons including:
- pressing financial obligations
- medical concerns
- improving the quality of life
Examine Your Options Without Obligation
Considering selling your payments is not the same as actually selling them. It makes sense to know what your options are, even if you choose not to exercise them. You can turn your future structured settlement payments into the cash you need for your life right now.
Contact Prosperity Partners today to learn about the possibilities for your tomorrow.
Recently I read an article that had a unique way of giving to the less fortunate.
When buying your lottery tickets, for good luck, buy an extra ticket. Now give that ticket away to:
- That change collection jar on the counter for charity
- Jerry’s Kids
- The kids washing cars for their(band, glee club, Flag twirlers etc)
- The beggar that needs money for food
- Girl Scouts, Boy Scouts, Cub Scouts, Brownies
- Your favorite charity
Why on this beautiful green earth would you want to give away a ticket? In many societies and belief systems it is said that generosity will be rewarded ten fold. Why not increase your odds?
So give it a try and please, let me know what happens. Have fun with this you may start a whole new trend that may land you on OPRAH. Perchance you will receive a large lump sum of cash, annual, monthly payments or, a for life lottery or jackpot prize.
I still have not decided if cashing out is a good idea. How can I tell if what I am going to do with the money is more valuable than the payments themselves? One of the deciding factors is knowing what is the time value of money: This is the idea that a dollar now is worth more than a dollar in the future. Even after adjusting for inflation, a dollar “now” can earn interest until the time the dollar in the future would be received.
I was told having access to my money (capital) at any time, gives me more choices. What choices do I have available to me? Well, I can invest my money properly and create equal or better payments than my annuity. Okay, better sounds good to me. So what is the advantage of cashing out if I invest my money and only create the same amount of my current payments?
Honestly, as an American it is about exercising my right and privilege to do what ever I want with my money, when ever I want to, bottom line. I can spend days considering the value of cashing out vs. the value of keeping my annuity. I can calculate the time value of money and how to make my money worth more or at least keep it from losing value. It comes down to having MORE CHOICES, OPPORTUNITIES AND FREEDOM.
What is the actual value of having my money readily accessible to me? A REAL EMERGENCY will make discussions about value and sound decisions irrelevant. Having a current life threatening health or abuse situation or finding yourself suddenly homeless is the most valuable reason for cashing out. Selling to invest your lump sum for emergency access in the future gives you the freedom to access your capital quickly.
Just remember, cashing out and investing involves having a tolerance for risk as part of the decision making. For people with “0″ risk tolerance annuities are a good thing; they are low risk. For people with “0″ discipline, annuities are a good thing; there is no management involved. For people who cannot afford to live without their annuity payments, annuities are a good thing; the payments are dependable and consistently the same amount.
Everything in life has risks and value attached and measurement of each can be more an instinct or a need than an actual specific value. Take some time to weigh practical choices with your personal needs. Get some professional advice and then trust your ability to know what is best for you.
In most cases the insurance company will buy an annuity (an investment vehicle) in order to pay you. The company will buy the annuity for much less than the award, and then make it payable to the payee.The payer actually only pays a portion of the settlement, essentially investing the principal and paying over time with the proceeds of the annuity investment.
Make Your Money Work For You
In many cases great amounts of debt are incurred as a result of an accident and even with a generous award these can be difficult to overcome.
The good news is that by selling your structured settlement payments to Prosperity Partners you can have greater control of your financial life. You will be able to access your cash faster.
Contact Prosperity Partners today to discuss a full or partial structured settlement sale.