Credit card debt, student expenses, car payments and home bills are affecting countless Americans every single day. From struggling to pay off outstanding medical bills to chipping away at student loans, it seems there’s a new financial obligation rearing its ugly head when you least expect it. How can you mediate all these costs while still keeping your head above water? Consider looking into annuity payments and lottery payouts, financial methods that can get you cash for your structured settlement and see those bills reduced and your goals encouraged with little trouble on your end. Let’s take a look at lottery winnings, common forms of debt and how you can use a structured settlement to get the cash you need.
Lottery Winnings In The U.S.
Not everybody wins the lottery, but what happens if you’re one of the lucky few? Learning how to keep your money flow rolling is a skill not many have, leading to the resource of lottery payouts for those looking to be smart about their cash. It’s estimated half of all lotto winners will still work after winning the lottery, which isn’t the most appealing option if you find yourself wanting to pursue your dreams outside your nine to five! An annuity, whether variable or fixed, can offer you tax breaks and payments to keep your winnings stretched out rather than spent all in one go. When credit card debt and loans make this process difficult, know that there are options for you in the long-term.
Credit Card Debt And Loans
If you’re reading this you’re likely already familiar with the beast that is credit card debt and outstanding loans, be they medical, educational or car-related. The average consumer has at least three credit cards and at least one in five Americans have trouble with debt in their daily lives. Although household income has grown by a massive 25% in the past 12 years, the cost of living has also increased and seen many people scrabbling to make up for the gap in expenses. The average household has at least $15,000 in credit card debt, which is to say nothing about accompanying factors like real estate and car loans. How do people manage their finances will all of these extraneous factors in the way?
Cash For Structured Settlements
Selling a structured settlement or applying for a fixed lump sum payment are but a few of the ways Americans today are taking their debt to task and whittling down their obligations. Structured settlements work by providing you with a certain amount of money over an extended period of time, which is an incredibly useful opportunity if you have extended responsibilities that can’t be completed in a day or two. A lump sum payment, on the other hand, is a one-time payment better suited to one-time goals. Getting your start is as simple as accumulating your credit card history and starting your financial portfolio under the eye of a trained professional.
Getting Your Start
Experts recommend you put no more than 25% to 30% into an annuity so you’re not receiving too much in a short period of time. The appeal of a structured settlement is how it gives a combination of financial stability and flexibility, helping you meet your goals without being too stressful. Keep in mind that the government will withhold a certain amount of your lottery winnings and some states have unique taxes or fees that may see you adjusting your payments. All this and more will ensure that you create a quality settlement or lottery payout, getting you closer to that car you’ve always wanted or that debt-free life you’ve been dreaming of. Next time debt has you down, consider applying for a lottery payout or lump sum annuity today to get what you need tomorrow.