Are new financial opportunities encouraging you to consider selling a portion of your future structured settlement payments? Perhaps a home, a college education or a chance to invest in a lucrative business has you realizing you would be financially better off in the long run if you opted for a well-calculated cash payout on your settlement. If you own a structured settlement, you own an asset designed to be flexible for these very financial decisions – right down to the last dollar. Evaluating a structured settlement lump-sum cash need just takes a little vision and calculator:
Evaluate the costs as closely as possible. If you and your settlement money are considering a home, obtain the exact amount needed for a down payment on house with all fees associated. Take the same thoughtful approach for a first semester’s tuition and college expenses. If tackling debt, do a grand total tally (that often includes bills or creditors you might have forgotten about). The goal is to create a lump-sum payout that doesn’t unnecessarily whittle away your entire structured settlement – or what could be a whole separate nest egg or new investment.
Expect a financial change for the better. Your lump-sum payout is going to land you and your family into a more secure housing situation. It is going to get rid of your current debt. It can also give a child the opportunity for a better life with a higher education and degree. The actions you take with your carefully calculated lump-sum buyout on your structured settlement will reap results you haven’t even thought of yet, from watching your eldest graduate to slipping a key into your new home’s lock.
A monthly budget doesn’t have to be affected. Not if you carefully calculate how your structured settlement is currently used an income source and how tapping into a payout could affect your day-to-day budget. Chances are you’ve already worked this one through and have a secured source of secondary income – or are simple being smart by deciding to use your payout in order to create more income by investing in a business or property investment that will deliver returns.
You can still make room for the miscellaneous. Good financial planning is a steadfast move, but nothing beats the flexibility that comes with getting cash for structured settlement payments. A good company will direct you to creating lump-sum amounts for your financial needs while keeping both planned and unplanned budgetary needs in mind. Get familiar with the features explained to you by a reputable structured settlement representative. Traits of a structure settlement company you want liquidating your inheritance are ones that both encourage and fully explain your decision to receive any kind of payout, no matter the size.
Calculated needs result in calculated benefits. By getting an approximate lump-sum figure in mind, either through financial hard work or the expertise readily available from a solution-oriented structured settlement company, you are better able to calculate the long-term benefits of your investment. A structured settlement really is a tool to opening up a brighter and more lucrative future for your family. And careful evaluation over the cost of each need will utilize your inheritance to its maximum potential.
Some people are completely anti-lump-sum cash payouts because people are giving up money over the long-term. However, in some situations it may make sense. If you’ve got a good investment opportunity or if you need money in the short-term in order to have an experience you’d otherwise miss.
Readers, when do you think a structured settlement might be a good idea?