Annuity and Financial Planning News: How Selling Your Annuity Could Help You Retire
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January 20, 2015Retire Early by Selling Your Annuity
Today, approximately 100 million people are currently receiving annuity payments or will sometime in the future. If you are one of those 100 million people, it is important to consider the great impact they may have on your retirement. Selling your annuity payments or a portion of them may be in your best interest if you are looking to retire earlier.
It goes without saying that one of the biggest benefits of receiving monthly payments is the steady income which allows you to keep a steady budget This benefit cannot be ignored and is a major reason why people prefer to continue receiving annuity payments. However, if you are looking for an early retirement, selling your annuity payments could in some cases provide a bigger reward.
Sometimes, you have unexpected financial difficulties or mounting credit card debt that you are unable to get rid of, all of which puts you at risk of losing your ability to retire while you are still young enough to enjoy your retirement. In such cases, selling your annuity payments may be a better option for you. Looking at your long-term goals with retirement is key in acknowledging how selling your annuity can help you achieve them. If you sell your annuity payments, you may be able to pay off all your current debts and budget the rest of your life. Getting rid of car payments and credit cards that will only accumulate interest over time will help you ease your mind on finances even before retirement. Your annuity may help you pay everything off today so you do not have to worry about it in the future.
One way to achieve an early form of worry-free retirement is to sell all of your annuity payments for a lump sum of cash. This way, you can receive all your money and take care of all those monthly bills and expenses you do not want to have after you retire. Another great option is to sell only a portion of your annuity payments. This option may allow you to get some of the cash from a trusted structured settlement buyer for a portion of the overall money you are entitled to receive in periodic payments and receive the rest dispersed per your annuity schedule. If selling your annuity payments has the ability to help you retire at the age you want, then there is no better time to sell than right now!
DRB Capital is your go-to company to help you sell your annuity payments and help you achieve your retirement goals. If you or your independent advisor have any questions about how you can get cash for your structured settlement, please call us at 877-894-4541.
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