home loan finance blog
Some people spend their entire life on the fence – a place of indecision and fear. How can someone possibly know which decision to make, when they do not know the outcome, the consequence, or the payoff? Maybe the cost of not choosing which path to take is exponentially higher than the cost of choosing the wrong one.
Choices were made that determined your future settlement payments. Then life happens. Home improvements, college tuition and unexpected expenses are virtually impossible to predict 15 or 20 years in the future. The payments you have coming now and in the future are not meeting your needs. This is commonly where the fence comes in. There isnt always a simple answer.
The cost of advancing or restructuring your annuity payments can be expensive. Consult a financial professional and an attorney for advice on your particular situation. All other avenues should be considered before advancing your annuity payments.
Sometimes preventing bankruptcy or credit damage by cashing in your future payments could be more advantageous than the costs involved. Now youre between two choices, two different paths that lead to different places with different results. It can be scary. It can seem easier to not choose at all instead of taking the risk of making the wrong choice.
Consider the consequences of not choosing.
By not deciding whether or not to advance your structured settlement payments, there is still a cost and no benefit. The cost is remaining in the unfavorable financial situation that you are in without any new paths to explore. By choosing, perfect decision or not, you create new paths to new possibilities that wouldnt have come about sitting on the fence.
Consider choice as a path to new possibilities in life. Consider all the options, and then just choose.