4 Things You Should Do After Receiving a Large Lump Sum of Cash
If you were lucky enough to both graduate college and receive structured settlement payments, first of all, congratulations, and second of all, you have to figure out what to do next.
Receiving annual payments can help a recent grad like yourself have some extra cash on hand and buy a few more groceries each month. But for those who can’t make structured settlement payments work with their finances, there might be a more responsible way to handle your settlement payments. Sell them.
Whether it’s a lump sum from a lottery payout, an inheritance, or an insurance settlement, countless Americans are looking to get fast cash for structured settlements.
How Do I Sell My Structured Settlement Payments for Cash, ASAP?
If you sell your structured settlement payments, rather than getting a small amount every month, you’ll instead have the opportunity to receive a large lump sum of cash to put towards improving your life in the present and securing your financial future.
More than 37,000 U.S. citizens use structured settlement cash every year, and about $6 million is used annually to set up new structured settlements. These financial products have an average payout of roughly $324,000, which probably seems like a massive windfall at first. Until, of course, you realize how long you have to wait to access your money.
That’s why iSettlements exists. When you need fast cash for a structured settlement, a pre-settlement lawsuit loan, or almost any type of future payments, iSettlements is here to help you get your cash now.
Sell My Structured Settlement: The Most Common Things People Do With Their Lump Sum
Here are some of your best options once you receive cash for structured settlement payments.
Pay Off Your Loans — One of the most responsible things a person can do, no matter their income bracket, is to pay off their debt. Or, more likely, their debts. Student loans follow you forever and can really hold you back if you let them. Paying the minimum every year makes you feel like you’ll never be able to pay off your loans. But if you get cash for structured settlement payouts, you’ll be able to take a huge chunk out of your debt — or maybe erase it altogether.
Follow Your Passions — Everyone is encouraged to follow their passions, but it’s not as easy for everyone to do so. Some passions are expensive. If you’re lucky enough to have some extra cash, don’t just waste it on pointless items or expensive food. Take advantage of the opportunity and follow your passion. Start your own business doing something you love and dive in headfirst.
Save — Although you are encouraged to use cash you got from selling your structured settlements in productive ways, one of the most mature decisions you can make is to save that money. You never know when an emergency will happen and you’ll need emergency cash, so keeping your money in a savings account is always a responsible way to handle money.
Reliable Purchases — Getting cash for structured settlement payments is a great opportunity to make a milestone purchase in your life. Depending on your goals and your situation, you might be thinking about buying a house or a new car. If you have a large lump sum of cash, putting a significant amount down on a house or buying a reliable car are both practical and responsible ways to use that money.
Need to sell future payments for cash? Contact iSettlements today.