3 Responsible Ideas On How to Spend Your Structured Settlement Money
If you’re fortunate enough to receive annuity payments every year, you might want to think about what other payout options you have.
Rather than receiving a small amount of cash annually, you can opt for a lump sum and receive one payment of a significant amount of cash. If you sell structured settlement payments and receive a large lump sum, you’ll be able to use that money however you want. You can use the annuity payment money however you want, too, but it’ll be much less than a lump sum so you can’t do any serious purchasing.
There is so much money to be gained once you sell structured settlement payments, as $6 million is paid out each year to fund these structured settlements. The money you receive can truly change your life for the better and set you up for a secure financial future.
Here are a few mature decisions you can think about once you get your lump sum of cash.
Improve Your Wardrobe
If you’re trying to achieve a more mature look, the jeans and beer T-shirt you’ve been rocking is probably not that good for your career. You want to turn heads both in the office and on the road. If money is tight, it’s difficult to justify spending on nicer clothes. But if you have a large lump sum, setting aside a handful of that for a good suit and some other business-appropriate pieces is a responsible way to use that money.
Update Your Home With “Smart” Features
You don’t have to buy a completely new home, but adding on can be a great way to spend your newfound money. Installing a home security system will be great for your peace of mind, along with smart vents, updated speaker systems, and LED light bulbs.
Take a Trip
Visiting new places that you’ve always wanted to see can be a great treat for you. You’ll be more cultured afterward, as well as have a better idea of what you want out of life. Many people say that they value experiences over possessions, and what better way is there to have amazing experiences than to travel? It’ll do you wonders.
If you’re debating whether or not you should sell structured settlement payments and want to speak to someone who can offer professional assistance, contact iSettlements today!