Selling an annuity settlement may not seem like the wisest of ideas, but it literally and figuratively pays off. In fact, about 92% of people who got cash for annuity payments they had were satisfied with their decision. Here’s why selling your annuity is a better decision than you might think.
Pay Off Student Loans. – If you don’t know that the U.S. has a serious student loan debt, then chances are you haven’t paid any attention to current events in the last 20 years. According to the College Board, the average cost of going to a private college nowadays is over $31,000, and more than $9,000 at state residences. That’s a lot of money. Consequently, outstanding student loan debt has no reached $1.3 trillion, with the average American owing $11,244 in student loans. Fortunately, selling off an annuity can help pay for that.
Pay Off Car Loans. – Owning a car is far from cheap. First of all, there’s the actual cost of purchasing it, which most people need to take out loans for. Then there’s also repairs and maintenance to think about. Nowadays, the average American still owes $8,163 on his or her car. Luckily, selling an annuity can get that monkey off their back, and get them on the road to financial independence.
Pay Off Mortgages. – If you buy a home, you’re going to be chained to that property for years upon years. Most people understand that going in, and are totally fine with it. That’s why they settle down in the first place, after all. That being said, circumstances change. Perhaps a person wants to move or change careers. Unfortunately, the average American still owes over $70,000 on his or her mortgage. You know what can help pay for that, though? Selling an annuity.
The point here is that if you have an annuity and you have debt, do the smart thing. Sell it and pay off what you owe. You’ll be much, much happier that way. If you have any questions about selling annuities, feel free to share in the comments. This is a great source for more.
