5 Reasons to Sell Your Annuity Payments

Posted by rightway Funding on August 19th, 2019

If you're receiving payments due to a structured settlement, you might like the reliability of always having money arriving on a regular basis. For many people, however, complications might develop in life that require cash immediately. Being able to sell your annuity payments is a great way to give yourself some flexibility in how you want to spend the money you have coming to you. Here are a few reasons you might want cash for annuity payments.

1. Beat Inflation

Inflation in the economy has been a fact of life for over a century. With inflation averaging between 2.5 and 3% every year, a dollar 20 years from now isn't going to have anywhere near the same value as it does today. Therefore, a structured settlement that pays annually over several years is not worth as much as the cash you can have right now. That's why it can be helpful selling your annuity payments to a company such as RightWay Funding. Having experts at RightWay Funding review your structured settlement to see how you can get some or all of the money owed to you immediately can ultimately save you money in the long run.

2. Paying Off Debt

If you have substantial debt, it's better to pay that off as quickly as you can. More than just money owed, debt only grows over time due to interest rates. Selling your annuity for cash takes this burden off your shoulders, giving you more financial freedom.

3. Home Repairs

If you need a new roof, then you have no choice but to take care of it. By getting the money owed to you in a lump sum, you can make emergency home repairs that not only make your home safer and more comfortable, but increase the value of your home if you're interested in selling.

4. Investing

Getting rid of your structured settlement in favor of cash up front not only saves it from depreciating due to inflation, but it gives you the opportunity to invest it where it can make more money for you. Even a very conservative money market account is preferable to waiting for cash as it sits in someone else's accounts.

5. Loss of Job

Losing your job is a fact of life for many people with structured settlements, especially if they've suffered an injury. Far better to have money when you need it then to wait until you're stuck without any money to get by.

If you're interested in selling your annuity payments for cash, have RightWay Funding review your situation, so you can be sure you'll have the money you need when you need it most.