There are many people in this country who have been through some type of situation that has landed them with structured settlement payments. These payments can often be helpful in times of financial hardship, and with what is considered an immediate annuity, the payments can begin to come in around 30 days. But receiving your money in this way is not your only option, and for some it might make more sense financially to sell fixed annuity payments in favor of one larger lump sum payment. If you are thinking to sell your structured settlements, you may have more opportunities open up for you with that larger amount of money available to you.

How to decide if a lump sum or annuity is right for you
Having structured settlement payments coming in over time does help a lot of people learn to better manage and budget their money. However if you were to sell your structured settlements, you could be part of the 92% of people who have sold their structured settlements and report being quite happy with their decision to do so. If you do decide to go for a lump sum, you will want to do some very careful planning ahead of time, but if you can accomplish that, and then stick to those plans once you receive your lump sum, you could end up setting yourself up for a very successful and potentially lucrative future. For many people, having that opportunity to sweep debt away for good would be a dream come true.

Setting yourself up for success
Just about 20% of Americans between the ages of 18 and 24 would define themselves as living in a state of debt hardship. And 26% of Americans in general have admitted that they do not always pay their bills on time. Many of them simply cannot afford to. But when you sell your structured settlements and receive a lump sum, you can choose where to invest that money or how it will be invested into your future. With that amount of money you could pay off medical bills or school loans that you haven’t been able to get in front of. Or you could use it on tuition so that you can finally get your degree and get onto the path you always knew you were capable of. Money from a lump sum payout could make enough of a difference in your bank account that you could open a business, whether it is one you have always dreamed of, one that you would like to partner up with someone close to you for the betterment of both of your lives, or something you never thought would have been an option. Money like that could get you ahead, but you would have to be diligent and smart about how you handle it.

Perhaps you experienced a pretty rough situation in order to be on the receiving end of structured settlement payments. Maybe you have struggled to get ahead for most of your life. Whatever your personal struggle is, you can transform it into a personal success, and hold your head high when you tell your story. You have been through trials and come out stronger. You have the right and the will to succeed. So do it.