Hi folks, J.G. Wentworth here. In a previous blog, we put together a list of questions structured settlement holders should ask themselves before attempting to sell their future settlement payments for cash. Along those same lines, if you are an annuity holder looking for cash now in exchange for all or a portion of your future annuity payments, here are four great questions to ask yourself before getting started.
1) Have I thought about both my short and long-term financial needs?
If you are thinking about selling your annuity payments, you need to consider both your immediate and long-term financial needs. How much cash do you need now, and how much might you need to rely upon in the future? Will holding off selling your future annuity payments drain all your current savings? Will sacrificing future annuity payments cause too much damage to your long-term financial health? Ultimately, these are questions only you can answer, but you must take the time to ask them.
2) Do I understand the entire process of selling annuity payments for cash?
You need to understand the entire process of selling annuity payments from start to finish, and should never rush into any transaction without knowing exactly what to expect. Take whatever time you need, and ask any questions of the account executive, until you are fully versed in the process.
3) Do I understand the tax implications of selling annuity payments?
Individual tax consequences vary, and you should contact a tax or legal advisor to discuss your specific financial circumstances.
4) Have I found the right annuity purchasing company with which to do business?
Finally, do whatever research and homework you need to do to find the right buyer for your annuity payments. It’s simply too important a decision to choose poorly!
To be frank, we believe J.G. Wentworth is the company for you. J.G. Wentworth has been purchasing future payment streams for over 20 years, has purchased over 4 billion dollars in future payments from folks just like you around the country, and, as of the date of this blog post, has a Better Business Bureau rating of A+. So if you’re thinking about getting started, wouldn’t J.G. Wentworth be the perfect company to call? Our account executives are ready to take your call anytime at 877-227-4713.