The following guest post is provided by Jason who is associated with J.G. Wentworth ,and he identifies the positives that can be associated with a Structured Settlement Payouts.
I’ve never received a structured settlement payout before, and it’s something that I would want to speak to professionals about before jumping into since I don’t have the experience that I think would be needed. That said, I can definitely see the positives that Jason identifies below. These positives make the option a worthwhile consideration!
And so without further ado, the following words from Jason’s (my words will be in the color green):
Perhaps your structured settlement has been used in the past as a modest source of monthly income. Or maybe you’ve just inherited a rather large structured settlement. Either way, financial life for you and your family is set to change for the positive (and definitely grow for the positive too) when turning your structured settlement into a large lump-sum payout. Reputable structured settlement companies will keep the process running smoothly, leaving you free to dream about your financial improvements.
Here are five positive changes that await your future:
A chance for a new start. Whether you decide to buy a house or pay for college tuition, selling a structured settlement for a lump-sum payment is nothing short than an opportunity to make a dream come true. If using the cash to pay off a large amount of debt, think about how good it will feel to have a clean financial slate – something many Americans burdened by the economic downturn would love to have.
Day-to-day financial life improves. A structured settlement payout can be used to pay off debt that may have mounted due to an unforeseen accident. Or use the lump-sum buyout to start a business or even put a child (or two) through college. Knowing where the funding will come from for life’s major financial milestones no longer has to place an impact your daily budget decisions or struggles.
Savvy money management skills develop. Deciding to use a structured settlement buyout to make a down payment on a house leads you to a new and improved financial arena that includes learning about growing property equity. If you are purchasing a second home, you have the opportunity to take on the roll of a landlord and collect monthly income through rental fees.
MR here; For me personally, the landlord option sounds like something I would pursue if I were to receive a structured settlement payout!
Watch your investment grow. Once you’ve wisely invested your structured settlement buyout into a house, business or education, the best part of your next task is to watch your investment grow. If funding a child through college, your structured settlement payout produces a degree. If paying off debt, you can use cash that was once tied up in credit card or medical bill payments for retirement investments.
New forms of return are on the horizon. A structured settlement payout really is a creative way to invest a large lump-sum of money. A business starts to produce a profit. A recent college graduate lands a great job. When selling a structured settlement, it is important to remember this one big financial investment leads to many smaller others that will help your payout grow in ways you never imagined.
Thanks Jason!
Be very careful when going to one company such as JG Wentworth, these types of companies have a bad tendency to low-ball a quote in order to make more money. Settlement Quotes has created a free calculator which you can use to calculate the price of your annuity.
Here is a link to the calculator.
https://www.structuredsettlement-quotes.com/fun/dr/
I’ve always wondered what’s better, structured or lump sum. On one hand you get a lot more money with structured, however, inflation will eat away at that amount over time.
When selling your structured settlement it pays to shop around. If you go with just one quote you are not going to get a good deal. I think when it comes to lump sums vs structured settlements, which is better depends upon the agreement you have in place. Some have cost of living adjustments than you are not going to be influenced by inflation. If you have a lump sum you need to take into account the discount rate which various from company to company. Payment schedules also play a role.
JG Wentworth is the industry leader in purchasing structured settlement payments. There is a reason why JG Wentworth is the biggest company. We offer customers the best service combined with competitive aggressive quotes for their payments. JG Wentworth has access to the industry’s lowest interest rates, which means we can get you the most money for your payments.
I would be concerned to work with brokers like Andrew Cravenho and Dawn (both commented above). These start-up firms will do and say whatever they can to tarnish JG Wentworth’s reputation.