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Tips on Selling Your Annuity or Structured Settlment

Financial Experts

Recent Posts by Financial Experts:

Does It Make More Sense to Get a Loan or Sell Your Structured Settlement Payments?

Life has a way of throwing curve balls at the most unfortunate times. When it does, it could leave you with a tough decision on your hands. Let’s say, for example, that you get sick and incur significant medical bills. Medical debt is one of the leading causes of bankruptcy in this country. And, in most cases, you can’t exactly control when and how you get sick. Even if you do have good insurance, you will still have to worry about co-pays and other costs not covered. See what we mean? This is just one of many scenarios that could cause you to desperately seek cash as soon as possible.

Topics: structured settlement

Can An Annuity Help You Fund Your Retirement?

If you are thinking about retirement and have some concerns about whether you will have enough, you are not alone. Most of us do not have a traditional pension, which means we must do more to ensure we have enough income to live comfortably in our later years. Even if you put the max into your 401K and save wisely, there is no guarantee you will have enough as 401Ks, for example, are affected by fluctuations in the stock market. 

Topics: sell annuity

How to Determine Whether You Should Sell Your Annuity at a Discount

Selling an annuity can often be a very difficult decision as there are so many factors that will go into it. Here are several that come to mind right away.

Topics: sell annuity Annuity

Ways to Overcome Your Financial Stress

We understand that financial stress can be a constant source of stress for many households. We write a lot about how people have found financial freedom by selling their annuities for cash now. If you are able to do this, you may be able to finally pay off that crippling credit card debt or catch up on medical bills that have left you in a constant state of worry for some time now.

How to Avoid Getting Scammed by an Annuity Buyer

If you own an annuity or structured settlement, you always have to be mindful of scammers looking to sign your payments over to them. Structured settlement owners do have some protection in the Structured Settlement Protection Act, which among other things mandates that structured settlement owners get financial advice from an independent financial advisor and that the transaction gets approval from a state court.

Topics: sell annuity

How to Manage Your Finances after You Sell Your Annuity

Selling an annuity for immediate cash can provide a lifeline to people who are in need of cash now.  The most common reasons why people decide to ultimately sell their annuity is to pay down high interest debt, cover medical costs, take care of a home or car repair, etc. When you sell your annuity to a reputable factoring company that can offer you a competitive quote, you can get the money you need when all other options are exhausted.

Topics: sell annuity

If I Invest in a Specific Annuity Type, Am I Stuck with That Annuity Choice Forever?

One of the most common questions we get is whether or not you are locked in if you choose a particular annuity type. An annuity is a good investment product that allows the buyer to earn a stable stream of income, depending on the particulars of the annuity contract. There are so many different types of annuity products out there, and some will fit with your current financial situation better than others.

Topics: sell annuity Annuity

Tips for Combating Financial Stress

Everyone stresses from money problems from time to time, but prolonged stress could cause significant health issues. We are going to discuss why stress is bad and what you can do to prevent it from being toxic to your health.

The first thing you should know is that not all stress is bad. Stress can be good if you are actually in a dangerous situation. In a scenario where you're in immediate danger, those heightened senses and extra energy are good because they'll allow you to react and either fight or fly.

Topics: sell annuity Annuity

How to Name a Beneficiary on an Annuity

As the owner of your annuity, you will likely name yourself as the annuitant. In rare cases, you may name someone else if you want to extend the payments and tax savings. When the annuitant passes away, beneficiaries named by the owner of the annuity in advance inherit the payments. The owner can choose multiple beneficiaries and change beneficiaries whenever he or she wants. Additionally, beneficiaries can be both people and organizations.

Topics: Annuity inherited annuity

What Are Some Pros to Selling Your Annuity Payments?

One of the most common questions we hear is whether the pros outweigh the cons to selling annuity payments. It is true that there are some cons to selling your annuity payments in certain situations. For one, you will be selling your annuity payments at a discount. The tradeoff, of course, is that you get a lump sum of cash to do with as you wish. So if you don’t need the money, you should probably hold off on selling your annuity payments. Second, if you are not good with money, it might not be a great idea to get a large sum of money as there’s a greater chance you will blow through it.

Topics: Annuity sell annuity