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If you’re interested in selling your annuity, you definitely aren’t the only one! There are plenty of reasons why people sell annuity payments, whether they’re dealing with a lottery annuity or with annuity settlements resulting from a lawsuit.

The most important thing to keep in mind is that selling your annuity payments can be simple and stress-free — you just have to be focused and figure out exactly why you want to sell you payments! For example,

  • Maybe you’ve found a better investment for your money — whether it’s real estate, the stock market, or a big purchase like a home or car. Annuities are kind of annoying because the money you put into an annuity really doesn’t appreciate over time; in fact, it depreciates, making an annuity a pretty poor investment strategy.

  • A lot of people just get fed up with all the fees involved in an annuity. Between management fees and the taxes you have to pay when you finally start withdrawing your payments, you can end up paying a lot of money toward basic tasks that don’t really matter.

  • Financial emergencies are another reason why people choose to sell their annuities, and although this probably isn’t the way you’d like to be spending your money, it’s definitely better to spend money that’s already yours rather than borrowing the money. It’s impossible to predict when these emergencies will occur, so it’s understandable if you don’t have savings to cover the costs.

  • One interesting trend that occurred following the economic collapse in the U.S. during 2007 and 2008 was that retirement funds began disappearing — and as a result, more people began pruchasing annuities just to make sure that they had something in the future. A lot of these people are now realizing that an annuity really isn’t a great retirement plan.

  • Last but not least, maybe you want to sell your annuity payments simply because the annuity is yours, the money is yours, and you should be able to spend or save it as you choose! Maybe you want to go back to school, start up a business, go on a big vacation, or just pay off some credit card debt. It’s up to you how to use your money — the only thing that really matters is selling your annuity safely and securely!