While the economy is in a minor rebound, times are still pretty tough, and everybody could use an extra bit of cash. Whether you’re drowning in unpaid credit card bills and student loans or just need the money to buy your dream home, you can get cash for an annuity now and live the life of your dreams.
Many people come into an annuity through an inheritance, or simply realize that they no longer have use for monthly or annual fixed payments. If you’re in this position, you should know that you can get cash for an annuity now by selling it for a huge one-time lump sum payment. You can do whatever you want with this money, and the possibilities are endless. Here are a few things to know about getting cash for an annuity now:
- Avoid surrender charges
It is much wiser to sell annuities rather than surrendering them to avoid ancillary charges. Surrender charges are explained in your annuity contract and typically range from 7-15% of the amount you plan to withdraw from your annuity, which can really add up. Getting annuity or settlement cash as a lump sum will net you much more money on the transaction, and you can have the freedom to spend it whenever you wish.
- Don’t be a slave to your annuity
Speaking of spending your lump sum whenever you wish, there’s a good chance you’ve grown frustrated with the inability to access your settlement cash now. There’s no reason you shouldn’t be able to, and you never know what can happen tomorrow that would inhibit you from spending your money. An annuity could take 20 or more years to reach full maturity, which is time you will have wasted living a meager existence when you could have been living extravagantly.
- Pay for life’s odds and ends
Almost everybody has some sort of debt hanging over their head, and living expenses in 2015 are truly obscene. More than 40% of Americans spend more than they earn, and you are in the unique position to cover these high costs of living and eliminate debt. There is truly no negative aspect of selling your annuity or settlement when it comes to taking back your financial freedom and starting the life you’ve always dreamed of.
An expert in settlements and annuities who will buy your fixed payments can inform you on the specifics of your case and offer a quote for your lump sum. Consider selling your annuity before it’s too late; you never know what tomorrow has in store.