Why exactly are so many people choosing to sell their structured settlements and get cash before settlement payments are sent out?
There are plenty of reasons why people end up with a structured settlement but don’t exactly want to continue receiving payments through it — from winning a lottery annuity to receiving a settlement after a car accident, there are plenty of reasons why you might become the unwitting owner of a structured settlement. The good news is that you don’t have to be stuck in your settlement agreement forever!
If you need some motivation to sell your payments — or if you aren’t sure how you can use your money — here are a few examples of the most common things that people do after selling a structured settlement:
- School: Many people find that going back to college is easier when they can pay for it upfront! This is a great way to earn a new degree, or perhaps finish a degree that you already started, and pursue a new career which will make you happier.
- Vacation: Hey, there’s nothing wrong with needing some time for yourself! Taking a big vacation with friends or family is a great way to spend some of that money on something you’ll really enjoy.
- Starting a Business: If you’ve decided that you’re done with the traditional corporate job, you might just find that starting your own business is the perfect answer. It takes about $30,000 these days to start a new business, however, depending on how much equipment you’ll need to buy.
- Buying a New Home: If you aren’t happy with your current home, using your money to purchase a new home is a great investment. Real estate is considered one of the smartest ways to keep your money safe and it’s something that will provide a good return on investment in the long run.
There’s really no one perfect way that people choose to spend the money from their structured settlements — so whatever interests you, it might just be time to pursue it!