The Best Times to Sell an Annuity

best times to sell your annuityThe best time to sell an annuity is when you need the money. That being said, there are certain times of the year that you may need funds more than others. It’s during these months when selling your annuity may be a better idea than at other times. Here are just a few of the times of the year that tend to be more expensive than others.

December

It’s right around the end of November and the beginning of December when the holidays start making demands on your bank account. On average, about 135.8 million Americans plan to shop on Thanksgiving weekend, and nearly 183.8 million people — 80% of holiday shoppers — plan to shop on Cyber Monday. According to the National Retail Federation’s latest survey, holiday shoppers plan to spend an average $463 on family members, up from $458 last year and the highest in survey history. What’s more, average spending per person is expected to reach $805, with more than half of shoppers planning to splurge on non-gift items for themselves. That is a lot of money. Luckily, selling an annuity ahead of time can help you get the funds to pay for your holiday expenditures.

August

Medical bills are far from cheap and if there’s one month when you’re most likely to get hurt, it’s August, which is the most dangerous time to be on the road. More specifically, Saturday afternoons in August are the most dangerous, according to the National Highway Traffic Safety Administration. The difference between August and January 2008 road fatalities were 3,612 versus 2,818. Worse, data from 2012 gathered by the National Highway Traffic Safety Administration (NHTSA), shows that the most crashes occurred between the hours of 3 p.m. and 6 p.m. And, non-fatal traffic injuries followed the same pattern. This might not be totally surprising, since that covers the beginning of rush hour, and the time when kids get out of school and parents head out to pick them up. Not to mention the fact that nine of the 10 deadliest days for youth on U.S. highways fall between May and August.

October

On a lighter note, October is another time when it makes sense to sell an annuity, because research shows it’s the best time to buy a new home. Specifically, Mondays in October are the best, with the single best day on the calendar being October 8. RealtyTrac reviewed over 32 million home and condo sales over the past 15 years, and they found that homes purchased in October came at a 2.6% discount to the current fair market value. Though based on the data, not many people were taking advantage of the discount, as only 2.7 million, or just 8.4%, of house closures occurred in October. If you need help paying your debt, you should consider selling your annuity. It’s a wise option at any time of the year. It just happens to be wiser during these few months.

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