Picture this: You get a promotion, but the catch is, you have to relocate and pay for the move. On the surface, changing your financial situation by way of a promotion is amazing. But a big move (or any life change) can come with big expenses. If you’re not in a good place financially, you might feel “stuck;” unable to take full advantage of opportunities. A new job in a new state is one such opportunity. But there are many “golden egg” situations in life that may seem out of reach. Here’s something you might not have known: if you have an annuity or structured settlement, you can sell your payments for a lump sum. It’s money that can change things in a big way.
Read below for other ways that you can better your situation if you sell your annuity for a lump sum.
Buy a New Home in a Better Neighborhood
If you live in a rough neighborhood, you may have wished from time to time that something could change your lot. With an annuity or structured settlement in hand, your wish has the potential to come true. Selling your annuity for a lump sum could provide you with a way to purchase a house or condo in a new city or town. Even if you’ve chosen to rent for a while, the money you receive might cover move-in costs, such as the first and last month’s rent, and gas/electric setup. Your former neighborhood may have been plagued with crime, a lack of adequate housing, troubled schools, and a lack of job opportunities. But making a bold move to a better place might offer a new environment where you can thrive.
Supplement Scholarships with an Annuity Lump Sum
We want to give a big shout out to anyone who’s received a scholarship (or partial scholarship). You’re smart and people are recognizing your potential! Now, the problem for many scholarship recipients is what comes next – books, housing, food, transportation, and other items associated with academia are typically not covered by scholarships. So, for many people, taking the next step in their academic career is possible, but can prove difficult if there aren’t supplemental funds available.
If you can’t afford the remainder of your tuition, books, or other school-related fees, but have an annuity, then you’ve got an ace in the hole. When you sell your payments, there’s a good chance you’ll have enough cash to supplement your scholarship award. With a lump sum at the ready, you can continue to show the world that you’ve got your eye on the prize and are going to keep this education thing going.
Tired of working at your dead-end job? Maybe you’re between jobs and are looking for the thing that’ll get you out of your funk. If you have an annuity to sell, it’s quite possible to change your situation for the better in ways you hadn’t thought about.
Use Your Annuity to Start a New VentureStarting your own business venture is a great way to move yourself forward in life. Imagine doing something you love every day and being paid for it. Imagine setting the tone for your business and being talked about (in a good way) as your business gains traction. Imagine making more money and setting your own hours. This is more than just a pipe dream – it can come true if you have the determination to take the first step. But starting your own business is for sure an overwhelming thing. But remember, changing your circumstances is often accompanied by bold moves. When you sell your annuity payments, there’s a good chance you’ll have enough capital to pave the way for a successful venture. That dead-end job will be in your rear-view mirror, if you just take a chance on yourself.
Sell Your Annuity to Pay Off Your Debt. Boost Your Credit Score
We all know how best to use a credit card – make your purchase and pay your bill before it accrues fees and interest. Easy enough, right? Not really. The option to pay the minimum starts to become really attractive when it means leaving more money in your pocket. The problem is, you end up paying more in the long run when you factor in those high credit card interest rates.
Additionally, running a credit card balance can also impact your credit score. Having good credit makes it easier to make larger purchases via a loan, like a home or car. But for many, paying off large credit card balances proves to be difficult, even if they’re receiving an annuity payment periodically.
There is a solution. Annuity recipients can sell their payments for a large lump sum and use that cash to pay off their credit card debt once and for all. Loans and other debt can also be paid off in one fell swoop. For many people, being debt-free (and using credit responsibly moving forward) saves them from having to pay interest charges and helps boost their credit scores. It’s sweet victory for your financial standing.
Annuity Buyouts Can Mean a Better Future
Sometimes life will throw opportunities your way that you absolutely cannot pass on. By selling your annuity or structured settlement, you could take advantage of these opportunities whenever and wherever they appear. If you need to pick up and move across the country, whether it be for a promotion or a new job altogether, don’t let a lack of funds hold you back from fulfilling your potential. Eyeing a new home? Want to start a new business? Does paying off debt spark your interest? Well, annuity buyouts may turn your dreams into reality.
Start now. Give RSL Funding a call now at 1-800-543-6513 for a free quote. Sell your structured settlement in order to have the money you’ll need to make your relocation as easy and comfortable as possible.