Are you truly better off investing or just keeping the payments? Getting the right annuity payment advice can be hard to find. We need it now especially during this time with the economy in the gutter. Although the economy is bad this is truly the best time to sell your annuity if you like to invest because prices are low right now. You can find a deal in just about anything and everywhere.
To be honest, there's no one shoe fits all answer to whether you should invest or keep your annuity payments. It depends on what's going on in your life at the time. For some people the steady payments shields them from spending on unsafe investments and thus keeps the security aspect there.
However, not every person faced with a lump sum will be tempted to spend the money foolishly. There are people out there that know about investing or have been investing prior to the annuity payments so they've invested successfully. If you haven't had any success investing in things in the past then you might want to proceed with caution when cashing out your annuities.
Here are some pitfalls others have made when cashing out their annuity for large amounts money.
* What has been discovered is that some people have became overwhelmed by the ideal of lump sums of money and become careless with it once they sell their annuity.
* Some have had very little investment knowledge. So when they start investing they go for high risk or speculate on their investment choices. What is speculating when it comes to investing? It's a mere guess. You don't want to guess on your investment options, you want to be sure.
* Some have become overly generous to family, friends, and spouses buying cars, homes, and other materialistic things. I know you've heard this before but you'd be surprised on how far forgotten this concept becomes once the money is in your hands.
* Annuity owners have experience business people that have talked them into business adventures that seem good on the surface but only to find out that the deal was a complete failures at the core.
* If there was a bad additive behavior in the person prior to selling the annuity it can be magnified with the lump sum.
* You won't believe this but it's true. There have been times when some charity institutions would start calling you more then often once you sell your annuity. They will be asking you to donate. They even will send out a representative to you to convince you to donate.
I'm not saying don't donate because I donate all the time but what I am saying is be smart and be wise. Don't loose it all because you weren't wise enough. Learn at all cost before selling your annuity to invest.
I hope at least one thing has helped you today in your decision making when it come to selling your annuity vs. keeping the payments.
Thanks... John - 31884
To be honest, there's no one shoe fits all answer to whether you should invest or keep your annuity payments. It depends on what's going on in your life at the time. For some people the steady payments shields them from spending on unsafe investments and thus keeps the security aspect there.
However, not every person faced with a lump sum will be tempted to spend the money foolishly. There are people out there that know about investing or have been investing prior to the annuity payments so they've invested successfully. If you haven't had any success investing in things in the past then you might want to proceed with caution when cashing out your annuities.
Here are some pitfalls others have made when cashing out their annuity for large amounts money.
* What has been discovered is that some people have became overwhelmed by the ideal of lump sums of money and become careless with it once they sell their annuity.
* Some have had very little investment knowledge. So when they start investing they go for high risk or speculate on their investment choices. What is speculating when it comes to investing? It's a mere guess. You don't want to guess on your investment options, you want to be sure.
* Some have become overly generous to family, friends, and spouses buying cars, homes, and other materialistic things. I know you've heard this before but you'd be surprised on how far forgotten this concept becomes once the money is in your hands.
* Annuity owners have experience business people that have talked them into business adventures that seem good on the surface but only to find out that the deal was a complete failures at the core.
* If there was a bad additive behavior in the person prior to selling the annuity it can be magnified with the lump sum.
* You won't believe this but it's true. There have been times when some charity institutions would start calling you more then often once you sell your annuity. They will be asking you to donate. They even will send out a representative to you to convince you to donate.
I'm not saying don't donate because I donate all the time but what I am saying is be smart and be wise. Don't loose it all because you weren't wise enough. Learn at all cost before selling your annuity to invest.
I hope at least one thing has helped you today in your decision making when it come to selling your annuity vs. keeping the payments.
Thanks... John - 31884
About the Author:
Learn more free annuity payment advice from John Pulaski. He believes in advice that will help solve core financial problems that cure instead advice that only prep the surface issue.
