For those with structured settlements, being able to count on money to come in regularly is a great thing. They can sleep well at night knowing that cash is on the way and can help them with daily expenses. However, structured settlements are not always a reliable source of income. For one thing, the circumstances that have brought you this money may not be ideal. For example, if you were injured and you sued someone for the money, this cash may only be enough to pay for your medical bills. What if, because of this injury, you couldn’t work anymore?
Money from a settlement will not always be around forever. Eventually, the person paying this settlement will reach a point where they finish off the obligation. Also, if that person or organization were to file for bankruptcy, they might get this debt discharged and you will not get the entire amount. That is why it is important to plan for the future. Unless you truly don’t need the money, you need to make sure any money for a settlement will go a long way. One way to do this would be to get cash for your settlement and use it today to build profits or a comfortable nest egg for yourself.
You’ve probably seen companies that offer cash for structured settlement agreements. Now, many may think this is not a good idea, but as mentioned earlier, settlement money is not always guaranteed. If you can get cash for structured settlements, there are other ways you can profit from this. First, if you are healthy and still working, you can pay off your debts and your mortgage so you can have extra cash each month. You can use this to add to your retirement fund or stash extra cash each month in a mutual fund (which can give you 7 – 8% a year) or even the stock market, which might garner you 10 to 12% a year. For those you want a passive income or money for the future, this is a good idea. You can even buy stocks or bonds with when you get cash for structured settlement deals, and you can make more by putting it in a bond at 4% per year, instead of using it up. This is because inflation can go up as much as 3% per year, so your money actually loses value over time.
Now, if you truly want to profit for getting cash for your structured settlement, there are two other options: getting an advanced degree or opening a business. You can get a higher salary with an advanced degree, but you will also need to pay for your tuition and expenses. If you get cash for your structured settlement, you can go to school and not have to worry about paying for tuition or have to take a job to make ends meet. Or you can start a business. You not only end up doing something you love and being your own boss, but you will also end up making money.