Whether it’s the result of an insurance claim, lawsuit, or lottery winnings a structured settlement can be one of your most valuable assets. Regular annuity style payments are safe and consistent, but sell your structured settlements and you can position yourself to make three of your life’s biggest purchases.
1.) House: Obviously, prices range greatly, but the average cost of a house in 2010 was $272,900. Regardless of how much it costs, mortgage lenders generally require a down payment of 5, 10, or 20% of the sale price in cash. That’s a large amount of money most people won’t have on them. Unless you want to take a loan out to pay for your home loan, sell your structured settlements and put a portion of the money towards your next home.
2.) Car: Personal transportation is becoming more and more a necessity than luxury. The convenience and freedom they provide can be a truly enriching life improvement. Unfortunately, cars don’t come cheap either. In January 2015 the estimated average transaction price for light vehicles in the U.S. was $33,993. Again, you could take out a loan and make payments, but you could end up paying close to double the sale price of the car after interest is accounted for.
3.) Tuition: College prices continue to rise with no end in sight. The compensation for earning a degree is sadly not currently on par with the initial investment. On average Americans owe over $11,000 in higher education expenses. It can take years, even a lifetime for some people to pay of student loans. An education can be one of the most valuable things a person can buy, but bankrupting yourself as a result doesn’t do you much good. Sell your structured settlements today and get settlement money now to offset these astronomical prices.