You purchased a lottery ticket, imagining all of the ways that it could change your life. You imagined the house you would buy, the car that you would drive and the many ways that you would be able to help your family and friends. You watched the TV closely, noticing as each word popped up on the screen that matched the ticket in your hand. When the last number was called, you realized that you won money. You quickly double check the numbers, not wanting to say anything until you are sure. Then you screamed and cheered, realizing that your life is now different. However, months went by and you noticed that your annuity settlement payments were not enough to do the things you wanted to do with your winnings. In fact, not much has changed and you wish you could just receive all of your money at once. Well, you can.
Surveys show that lottery play is the most popular and widely practiced form of gambling in the United States. The odds of winning are very low, but if you do, you are likely to receive a lot of cash. It may even be enough to change your life, if you are able to do what you want with your money. You can receive cash for annuity payments, allowing you to decide what to do with your money. When you receive cash for lottery winnings, you can do a variety of things that can improve your lifestyle.
When you receive cash for annuity, you can plan your financial management strategies, allowing you to help out your family and friends, pay down your debt, purchase a home or a car and find different ways to invest your money. When you get cash for annuity payments and then decide to invest your money, you are increasing your lottery winnings. If you are able to invest your money into something with a great return rate, you will continue to grow your monthly income off of money that you won. This can greatly increase your financial well being and has the ability to change your life.
Finally, debt is a huge problem in America. It is likely that when you won the lottery, you had some type of debt. If you do not pay off the debt immediately, you are also paying interest on the charges, increasing the amount that you pay. For example, if you own a home, you are likely paying much more in interest charges on your home than you are on the actual home. Your cash for annuity payments allows you to pay off the mortgage amount, saving you hundreds of thousands in interest charges. The same goes for credit card debt. The average U.S. household with debt carries $15,355 in credit card debt and $129,579 in total debt. Imagine how much interest those amounts of debt carry. Additionally, in 2010, the average cost of a new home was $272,900. Many homeowners will carry debt for many years, paying interest at the front of the loan. You will probably notice that after 10 years of payments, you haven?t even paid that much off of the loan. Receiving all of your money up front can assist with these large amounts of interest payments.
Winning the lottery is a huge thing that can change the way you live. However, many lottery winners are stuck with monthly annuity payments which prevent them from choosing how they spend their money. When you sell your annuity payments for cash, you are freeing up your money and choosing how you want to spend it. You can actually improve your life by paying down debt, avoiding interest charges and purchasing things not on credit.