Even the most happy-go-lucky optimist, who is able to find the silver lining in anything, can run into the type of snag that seems to plague everyone at some point, and many people find it to be a longterm struggle: money. Of course, there are those who are born into money or those with incredible amounts of good luck on their side who stumble into substantial amounts of money, but most of us know what it is like to see money — or rather the lack thereof — as a major hurdle, at least at some point in our lives.
Could you sell annuity payments to help with debt?
Debt is everywhere. On average, an American household is in debt to the tune of about $129,579. About one in five Americans between the ages of 18 and 24 describe themselves as being in a serious “debt hardship.” And just over a quarter of Americans have admitted that they often cannot pay their bills on time. If you are receiving structured settlement annuity payments, selling for a lump sum could help turn things around for you. While those smaller payments over time can be of some help, getting cash for annuity payments instead could take care of lingering debt or even propel you in a new, financially-sound direction. But it is crucial to have a plan for that money before you actually get it in hand, or you could easily be facing financial difficulties again not too far down the road. Consider investing, or paying off medical bills or credit card bills, or start that business you have always dreamed about.
Building a new life debt-free
Getting cash for structured settlement payments could be the springboard to a whole new path in life. Some people are forced to desert their dreams, or at least put them on pause for an unknown amount of time, because they are tied to their debt. Instead of traveling, or up and moving to somewhere new altogether, those in debt are forced to face the stinging reality that money controls their decisions. There are those with a great passion that they cannot pursue because their focus must be on making money for bills and debts. But with a lump sum of money, the pressure of coming up with money every day lessens, and dreams can come back to life.
We do not have to be slaves to money. There are ways to fight to get our dreams back and to learn to live free of debt. Make yourself remember what you would do if you didn’t have the stress and burden of financial worries. Travel the world, start up a bakery, pay off pesky bills and accrued debts. Go back to school without worrying about tuition. Upgrade your house and your life. Be in control of your money instead of the other way around!