Annuity Transfer - What are the Risks
Structured settlement as the name
indicates is a periodic payment of a lump sum amount settled towards a Personal injury
or a Lottery
win. There are companies, brokers and consultants who pay lump sum for these
future payments calculating their yield over the entire period. These
companies are governed by state and federal regulations, that will accelerate
future payments and pay out a lump sum of cash now.
To go in for such payment consider the following points before selling the
structured settlements for lump sum.
-
Should not have pressing financial need or opportunity
-
Under the age of 18
-
Annuity is sole source of income
-
Live in North Carolina
-
Monthly payments less than $100
- years away
What are the Risks accepting Annuity Transfer
Annuity transfer is
an attractive amount that comes to hand but if are not good planner and have no
experience or knowledge of how to utilize these funds do not go for this
transfer. The risks are
-
lack of knowledge to
utilize and manage the treasure
-
Going for speculative
investments and try to get high yields
-
Lending for high rate of
interest for high returns
-
involving in horse race
and other gambling ventures
-
Utilizing for
criminal activities
-
Dreaming to become
overnight and investing in such schemes
Unexpected wealth normally
gets more enemies than friends and even kith an kin becomes greedy and may
become enemies. Beware
