3 Reasons Why Selling Your Structured Settlement Just Makes Sense
Selling a structured settlement, rather than receiving annual annuity payments, can be a solid decision. It depends on your financial situation, how much money you’d be getting, and a few other variables, but selling a structured settlement can both provide you with the opportunity to do something amazing and ensure a secure financial future for yourself.
Annuity payments are given out once a year in small sums and can help every once in a while if you need an extra few bucks. But selling a structured settlement will end up putting a lot more cash in your hands. You’ll get a large lump sum of money. That sounds a lot better than an extra buck or two, doesn’t it?
How you handle that large lump sum of cash, however, is entirely up to you. Here are a few reasons to sell your structured settlement and get that lump sum of money.
Convince Yourself (Your Parents) That You Can Be Financially Responsible
If you get a large amount of cash for your structured settlement and don’t spend it all in one week, your parents will most likely be proud of you. But why stop there? It might not be as fun to save money, pay off student loans or credit card debt, or make a mature purchase like a house or a car, but it really will benefit your future. It’s okay to splurge a little bit, say on a weekend trip, some new clothes or a decent stereo — and then put the remainder in your savings or towards that down payment.
Everyone Else Is Doing It
Okay, that’s not true. But of all the people that are selling their structured settlement payments, wholly 92% of them are satisfied with their decision to do so. Maybe that has to do with the large amount of money they receiving? Just know that if you do decide to get cash for your settlement, you’re not the only one doing so. The concept of selling your own money sounds a little bizarre, but it’ll make a lot more sense once that large lump sum of cash is in your hands.
Do Something You’ve Always Wanted to Do
With the cash you’ll be receiving you can travel, start your own business, put a down payment on a house, buy a car, and do so much more. Again, you should probably be responsible with this money so you don’t end up in financial trouble, but there’s no reason you can’t be sensible and enjoy yourself a little, too.