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Are There Times When Selling Your Annuity Payments Might Not Make Sense? - 19 Jun 2018 15:20

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The short answer to this question is yes. While we will talk about selling your annuity payments in this blog all of the time, we would be the first to also say that sometimes it does make sense to hold on to your annuity payments. Let's examine when it might actually make more sense keep your annuity payments until a later date when you might need them more.

First, let's talk about when you should definitely sell your annuity payments. If you need money because you have significant debt, you shouldn't wait and keep your annuity payments until you find the money. This make little sense as you are just paying more in interest and penalties.

The most common reasons why people decide to sell their annuity payments is due to credit card debt, mortgage debt, medical debt, college tuition or student loans, divorce, and new investment opportunities. However, these are not the only good reasons for selling annuity payments, so you might want to speak with your financial adviser to determine if there is a solid reason for selling your annuity payments.

When Is Selling Annuity Payments a Bad Idea?

If you are thinking about selling your annuity payments to finance a vacation, this is a bad idea. The same holds true if you don't actually need the money but want to sell your annuity payments for some reason. Annuity payments provide long-term stability. They are to be used for a steady income stream in your golden years.

The truth is that when you sell your annuity payments, you will not get full value on those annuity payments. The buyer is providing you with the benefit of getting cash now. In return, they will buy the payments at a discounted rate. It's a trade-off. If the trade-off is worth it then go for it. However, if you don't absolutely need the money, you shouldn't sell your annuity payments. - Comments: 0

Tips for Avoiding Unethical Annuity Buyers - 23 May 2018 16:28

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If you are the owner of an annuity that you either purchased as an investment, won in a lottery, or inherited from a family member, there may be a time when you decide that it actually makes more sense for you to sell your annuity instead. You may need to sell your annuity to pay a bill, put down a payment on a home, or try out a new investment opportunity. If this is the case for you, you will find that there are many different buyers out there who will want to offer you money for your annuity.

However, finding the best annuity buyers takes more than just going online and choosing the first annuity buyer you see in the search results. In order to find the best annuity buyers, you will have to do a little research and find those that have a stellar reputation and reviews for purchasing annuities for top dollar. In addition to that, you will also need to have a better understanding of what an unethical annuity buyer looks like.

In the secondary market, there are many ethical buyers that will do everything possible to provide the best offer for an annuity. These annuity buyers will have a good rating with the Better Business Bureau, will be fully-licensed and certified, and will be transparent about the entire process. These are the annuity buyers you should be looking for as you aim to sell your annuity.

However, some annuity buyers will be not be as up-front about their business. They may not be able to provide you with certification or licensing; nor will they be able to provide you with a timeline on when you will get your money. They may not have a physical address, and you find it's nearly impossible to reach them on the phone. These are the annuity buyers you sould avoid at all costs as you're at risk of being deceived. - Comments: 0


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