Want a Secure Financial Future? Here is How to Get There
Having a secure financial future might seem difficult for you now. You’re just out of college; you still have student loans to pay back; you’re just beginning your career. Difficult might seem like an understatement, a secure financial future might seem downright impossible.
It’s not impossible, by the way. It doesn’t even have to be that difficult.
Receiving settlement money is great. It’s often given in small increments annually, which could benefit some people. A small portion of cash every year — although better than nothing — isn’t all that great. You can’t do anything significant with small amounts and depending on the rest of your financial situation, that money might not even make a difference.
That’s why you should opt for a lump sum and sell your structured settlement.
Of all the claimants who elected to get cash for settlements, wholly 92% of them were satisfied with their decision. More than $6 million every year is funded by structured settlements and selling a structured settlement pays out, on average, $324,000.
Here are a few reasons why you should sell your structured settlement and receive a lump sum payment:
Get Out of Debt
No matter how much money you make, you won’t be able to have a secure financial future if you’re still in debt. Getting out of debt, although intangible, is one of the greatest decisions you can make with your money. Just receiving small yearly payments won’t help you hack away at those outstanding debts. One large lump sum of cash, however, will provide you with the funds you need to completely rid, or at least significantly lessen, your outstanding debts.
Invest Your Money
Being responsible with this money is key. You can’t just throw it all away on a month-long party and expect it to regenerate in another few weeks. Once it’s gone, it’s gone. So it’s best to actually try and invest that money and maybe turn it into something greater down the road.
DISCLAIMER: Going to the casino and gambling all your winnings away is not an investment.
Start a Business
With this lump sum of cash, you have an advantage that not many people get in their lives. You have a chance to create something for yourself. You have to put in a lot of work and have to be 100% serious about it, but if you are, starting your own business can be one of the most fulfilling, rewarding, and positive things you can do.