Looking to invest in a car, begin your retirement savings or perhaps start looking for a new home? You might want to consider structured settlement cash now. Annuity settlements are a good way of getting the money you need without having to wait for interest rates to follow over the course of many years. A fixed sum paid to you in small increments could be just the ticket to helping you achieve your goals. While annuity is often used for retirement, it can be used toward many different kinds of projects with specific time frames. If you’re not sure where to start, keep on reading to learn about calculating a structured settlement and the definition of a lump sum.
Annuity is a certain amount of money paid to you over a period of time, while a lump sum is a single payment. While some would prefer to regulate their cash flow over the years, such as those writing a will or saving up for a house, others would prefer their money now to get what they need. An immediate annuity can have you receive payments within a month or less, while a variable annuity with ongoing management can have you receiving a 2% to 3% boost per year. Remember that variable annuities can have yearly maintenance fees. Selling your annuity can be a good decision, but only if you’re sure that you’ve reached the amount you’re confident with.
It’s not always easy to save your money, especially with hidden costs cropping out of seemingly nowhere and potentially setting you back weeks or even months. It’s important to understand your limits and adjust your savings or spending plan to your lifestyle and income. Well over 37,000 Americans use structured settlement per year and an estimated 92% of those who sold their settlements were satisfied with their decision. If yearly payments are more your style or you’re thinking of getting structured settlement cash now, you’ll be sure to enjoy the benefits of steady cash flow with manageable fees to get the dream house or car you’ve always wanted.