Annuities V.S. Debt: What You Don't Know About Selling Your Annuity

annuity

Considering the fact that selling an annuity settlement can cost surrender charges of up to 10%, the whole idea of selling your annuity may not seem all that bright. However, selling fixed annuities can actually be a pretty savvy financial move. If it weren’t, then why would 92% of claimants who sell their annuities say that they’re satisfied with their decision?

An annuity is usually given to help a person cover expenses, such as medical bills following an accident, but what good are smaller, monthly payments to a person after they’ve recovered and gotten behind on their bills? Sure, you might lose a little bit in the sale, but selling your annuity can be a wise move in today’s troubled economic times. Consider some of the follow debt statistics.

  • Credit Card Debt– The average U.S. household has a credit card debt of about $15,355 if you can believe it, which shouldn’t come as any surprise. After all, a study from February found that 57% of American households don’t consider themselves ready for a financial setback, and 55% say they break even or spend more than they make each month.
  • Mortgage Debt– The average U.S. household owes about $165,892 in mortgage debt. That is no joke. No wonder why 96% of all Americans claim to be financially dependent on the government, family, or charity at retirement or why nearly one in every 100 households in the United States claims bankruptcy.
  • Student Loan Debt – If you don’t know that a large part of the nation is drowning in student loan debt, then you may be living under a rock. The average U.S. household owes about $47,712 in student loan debt. This problem is more rampant than you might think. Research shows that 66% of graduates from public colleges have student loan debt; 75% of graduates from private nonprofit colleges have student loans; and a staggering 88% of graduates from for-profit colleges had student loans.

More than 37,000 Americans use structured settlement money every year for a good reason. If you have any questions about selling an annuity, feel free to share in the comments.

The Price of Victory: What Does It Cost to Win the Lottery?The Cost Of Living Today: How Selling Your Annuity Can Help
Recent posts
Recent posts