Cash for Annuities
Life has changed for you. Years ago your biggest concern was income in retirement. However, now something has happened. You have medical bills perhaps, or you lost a spouse's income. Maybe you decided that you want to travel. Something has changed and now you would rather have your money as a lump sum instead of in small payments. But as you have read about selling your annuities you have learned that most annuities sold are those created through structured settlements. Now, you are wondering if you can get cash for annuities that you purchased on your own. Or perhaps you want to sell one that you inherited from someone else who bought it for retirement. The answer is easy: yes you can.
Understanding an Annuity
What are annuities? an annuity is a type of investment that is made through an insurance company. The investor (you, or the person you inherited from) invests a large lump sum or makes a few large payments to initially fund the annuity. Then, the annuity company pays you a set amount of money for a certain period of time. This can be used to fund retirement; in fact, many people do this.
Is an Annuity a Good Idea?
While an annuity may seem like a good idea to purchase because it guarantees a certain amount of money, they are really not very good for retirement savings. Even famed financial consultant and TV show host Suze Orman does not suggest that a person purchase an annuity to fund retirement. Why not? There are a few reasons that annuities are not so great.
· First, an annuity usually pays a pretty low rate of return. You can earn far more money with other investments, including stocks and mutual funds.
· Second, unless the annuity was created from a structured settlement as part of a personal injury claim, the interest earned will probably be taxable.
This means that if you put $100,000 into an annuity for retirement, you will pay taxes on anything it earns. So, if you end up with $140,000 after years in the fund you will pay taxes on that $40,000. Well, there are other retirement vehicles, such as the Roth IRA, where you do not have to pay taxes on these earnings.
Start Over and Do it Right
If you are stuck in a retirement annuity that you regret, you can get cash for annuities that you own. It's easy. There are no court hearings. No legal hoops to jump through. Simply call us today for your no obligation quote. We can help you determine how much your annuity is currently worth. Then, we can tell you how much cash we can give you in exchange for your future payments. Within just a few weeks you can have cash in your pocket to live life the way that you want to, or to reinvest for the future as you see fit.
For more information on getting cash for annuity payments or to get a free, no obligation quote, contact Direct Settlement today. We specialize in helping people just like you, in plain English, without jargon or scary legal terms.At Direct Settlement , your peace of mind is our goal
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How can you Sell Your Settlements?
You can also cash in Annuities