Many of us receive compensation in our lifetime and it is often a major decision selecting what to do with the money. Nowadays the question is not necessarily what to do with the money but more how to get access to the full amount. There are many ways to receive your compensation and the most regular now is incrementally.
Insurance companies are much less willing to pay out the full amount of money and courts take the social responsibility stance too.
That is great for those who want the money each month to act as a buffer on top of their wage but for those with debts to pay and dreams to enact, it can prove to be a real hindrance.
All hope is however not lost and there are ways around the incremental payment plan, one of them being Structured Settlement buyouts.
I will highlight the options in detail within the article and then go on to show what options there are for the claimant in regards to spending the money.
We live in a world that is filled with opportunity but most of that opportunity is explored by those who are wealthy and have the financial capability.
It is not all doom and gloom though and access to a lump sum of cash can certainly help make things happen.
What are the Options?
There are many options out there and one of them is to get cash for your annuity. So many of us now receive out compensation in the form of incremental, monthly payments and there are companies out there now that offer cash in exchange for your payment plan. For many reading this, it will sound great but there is obviously a catch.
They take a cut of the total sum in exchange for providing you with a lump sum of cash, instantly, something you otherwise wouldn’t have access too. This opens up so many doors and is something that I would certainly recommend people look into.
Too many people nowadays just settle for what they have and what they are told by insurance companies and the courts. You only get one chance to enjoy your compensation, I will now highlight what the benefits of taking the lower amount are.
Flexibility
Having a lump sum of cash just gives you added flexibility and that can really help you do things you want to with the money. Too many people nowadays just exist as opposed to live and having access to a large sum of cash is perhaps the best way to change that round and buck the trend. Do a little research and see what is available for you and what company offers the best deal.
Explore the World
You really can explore the world, it is something we all dream about but very few people actually have the chance to make it happen. If there is something you really want to do in your life, go out and do it. Very few people have access to a large sum of money, especially a sum that they don’t have to pay back.
At the same time, you might decide that you want to grow your fund and so look at investments at places like Dealmarket, which could enable you to make healthy equity returns from private equity.
James has an economics degree from the University of Liverpool. He worked in a bank for a while before pursuing his writing career, he has been doing this for 2 years now.
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