Did you win a lottery payout recently? Lottery payments usually come in the form of structured settlements — monthly or annual payments which occur over time. For example, one popular lottery payout involves an immediate payment followed by 29 more which happen annually. In some scenarios, this can be a good way of receiving your money. However, if you have an urgent need for cash, you would be much better off if you get cash for your settlement.
Selling an annuity settlement is a smart move if you would rather do away with staggered payments and have the money due to you up front. There are many companies that purchase a lottery annuity and provide you with instant cash. There can be quite a few financial situations which warra
The world of finance can be a scary place, difficult to understand and navigate. Even if you understand how to manage your finances, it can be hard to do anything other than simply hang on. Things like lump sum versus annuity payments only serve to confuse you more. We have put together a basic guide to help you understand annuities, to get you on track to make your money work for you.
What are annuities?
Annuities are sums of cash paid out every year. It is usually the same amount of money at the same time every year. They are available in different sums, and can be paid out in numerous payment cycles. The most popular timelines are paid out over the cou
If you’ve recently won a legal settlement or lawsuit, there’s a good chance that you will be receiving this money through structured settlement annuity payments. This means your money won’t be paid out all at once; rather, you’ll receive regular payments over a set period of years.
Many people stick with their structured settlements due to the tax benefits they offer. Over time, structured settlements are worth much more than lump sums, because they’re taxed much less heavily.
However, structured settlements are just that: structured. It’s very likely that you’ll want to make a major purchase or investment within the next few years, but won’t be able to due to your settle