What is the Best Way to Receive Lottery Winnings

January 19, 2016 Finance Tips

Winning the lottery is something that most people only dream of happening. Once it becomes reality many may think that all their money problems have disappeared, however that may not be the case. There are still important financial decisions to make once you realize that you have won the lottery.

Winners have the option of choosing how they would like to receive lottery winnings. There are usually two options, a cash lump sum or yearly annuity payments paid out over the course of many years. Three are pros and cons to both options making careful consideration of both options equally important.

Lump Sum Payment
Getting a lump sum payment can be a wise choice for those why are savvy investors or who are financially capable of handling such a large amount of money. Extravagant purchases can be made and large amounts of debt can be paid off by accepting a lump sum payment. On the other hand those who are not financially sound enough could find that they use all the money very quickly with very little to show for it. With the lump sum payment you get all the money at once, therefore when it is gone, it is gone.

Lottery Annuity

Those who choose to receive their lottery payments as an annuity over the course of years usually pay fewer taxes on their winnings. Annual payments cause these individuals to fall into a lower tax bracket that lowers their total taxes paid on their winnings. The term of the payment nets a larger payout amount in the end. These payments however are received annually. This means that there is not a large sum of cash for any financial emergencies or to help cover expenses. There will be another payment once the first payment runs out, however it will not be until a certain date. More than 40% of families in the US admit to spending more money than they earn making it easy to spend annuity payments quickly after getting them. This makes annuities a good choice, especially for those who are well disciplined in their spending habits.

Selling Your Lottery Annuity

The good news is that majority of people who opt for annuity payments to receive lottery winnings have the option to sell some or all of those payments for unexpected finances that might arise. Selling some of your payments allows you to get immediate cash yet still have annual payments later down the road. This provides the best of both worlds. Immediate cash for extravagant purchases, and a steady stream of cash to help meet certain financial responsibilities.

Surveys confirm that playing the lottery is currently the most practiced form of gambling in the United States. Winning the lottery could be the end of all your financial worries. The average adult in the United States owes approximately $3,761 in revolving debt. Spending your money wisely and choosing the best way to receive lottery winnings can be beneficial to reducing or eliminating your current debt and helping you lead a debt free life.

Handling Large Amounts of Cash? Invest in a Cash Recycling Machine

January 17, 2016 Finance Tips

Accuracy and security are perhaps the most important words to banks and businesses dealing with large volumes of cash. In order to account for human error, lengthy procedures are needed, and that takes time and decreases efficiency. A cash management accounting system can take the risk of human error out of the picture, speed up transactions, and allow employees to focus on customer service. Currency counting machines can do all of the tasks normally required of a teller such as counting stacks of bills or loose coins with 100% accuracy and in less time.
What Is A Cash Recycler?
A cash recycling machine can:

sort coins
sort bills
detect counterfeit bills
dispense coins
dispense bills
serve as a safe

How Do I Know If I Need A Cash Management Accounting System?
Any bank or business dealing with large volumes of cash would benefit from having a currency sorting machine. A bank teller must have a minimum amount of cash and coins in the drawer at all times. When more bills or coins are needed, a trip to the vault is required and a process of verifying takes place. Similarly, when the drawer is over the maximum, another vault trip is required. Because it serves as a secure safe, an electronic coin sorter and counter would eliminate these trips and verifications that take valuable time.
Counting bills by hand is time consuming and must be done 2 or 3 times to ensure accuracy. A cash counting machine performs the task with 100% accuracy the first time and at a fraction of the speed. The time saved can be used to improve customer relations. Tellers can answer banking questions or sell other services.
What About Counterfeit Bills?
Counterfeiting is one of the oldest crimes in history, and it takes a carefully trained eye and attention to detail to spot a fake. The cash recycler doubles as a counterfeit detector machine and can spot the fake immediately, saving the company both time and money.
What About Security?
In addition to the cash recycler machine serving as a secure safe, security is also improved by limiting the time cash is exposed. Because all the counting is done inside the machine, cash spends significantly less time at the teller’s window.
What About Reliability And Service Of The Machine?
Companies servicing these cash management accounting machines understand how vital they are to a business or bank. For this reason, a variety of support contracts are available. On-site service support generally includes phone support, parts, travel and labour required to repair and restore equipment to its optimum operating condition. Scheduled preventative maintenance visits are are also included in an on-site contract. Other types of contracts might include loaner replacement equipment available with quick turnaround to fill an immediate need.

Easy Settlement Payout Options

January 16, 2016 Finance Tips

Have you recently received a large settlement and not sure where to start or how to get your money? Do you want your money right away and all at once instead of waiting a long period of time and then getting payments in installments? If so, you should think about getting an annuity payout and you can start by getting a quote for your annuity payments.

What is an Annuity Payment?

An annuity payment is one of your best options to access your settlement cash fast. It is one of the fastest cash advances where you get a check for your settlement amount and can cash it right away for the full amount instead of having to wait for your money or have it disbursed to you in increments. There is nothing to payback, and once you have the money, you don’t have to worry about any other paperwork or issues that could come up, like with other disbursement processes.

65% of Americans prefer the lump sum payment to other payout methods because it gives them not only the money right away, but opportunity to advance their lives in so many different ways. By getting a quote for your annuity payments you can start to see some of the possibilities that you may have. Here are just some of the things getting a lump sum payout can do for you:

Pay off debt immediately. This can be auto debt, student loan debt, credit card debit, or any other kind of debt.
Buy a house. With the housing market back in tact, investing in a home is not only a smart decision, but can also be a great opportunity for your family.
Splurge on a trip and go see the world. With cruise costs at an average to low rate, airline tickets becoming more affordable, and hotel deals around every corner, you can go on an amazing trip and still have money left over.
Investing is always an option. You may have a large sum now, but if you invest it, in a few years it could be an even larger amount.
You can do a combination of all of the above; pay off some debt, invest in something, and still buy a luxury item for yourself.

Getting one lump sum will give your access to do all of those things. When you get your money over a period of time it does become harder to do any of those things all at once, or sooner rather than later. To get started, and to feel out your options, get a quote for your annuity payments now and see how much that one time fast and easy payout can change your life.

The Top Reasons To Invest in Commercial Real Estate

January 7, 2016 Finance Tips

Investing in commercial real estate can be a great choice for anyone who’s looking for a lucrative and interesting way to invest extra capital. Of course, there are always some risks involved, and these risks may lead to some hesitation among potential investors. If you’re still deciding whether or not the commercial real estate financing industry is right for you, here are a few positive results associated with commercial real estate investing:

The publicity of being a real estate developer and/or investor is one reason for many people to enter the industry. This publicity is all about building up your professional reputation; you can become a prominent member of your community and donate your time/money to worthy causes, while also furthering your professional reputation in other industries outside of commercial real estate.
Flexibility is one main reason why commercial property investments are often chosen over residential properties. Instead of managing dozens (or even hundreds) of tenants and having to be on call virtually 24 hours a day, as a commercial property owner, you only have to manage a handful of tenants and can keep fairly normal business hours. The flexibility and convenience is a huge benefit if you have a another career.
And of course, because you’re investing your money, you’ll also want to make sure that you’re actually seeing a return on your investment. With commercial properties, there’s a good chance that you’ll see a very impressive return on investment, especially if you continuously improve your properties and bring in successful tenants.

Best of all, you don’t have to be a real estate expert in order to reap the benefits of being an investor. Working with a real estate development company or commercial real estate investment company is a great way to get expert advice when you need it, while still managing and building up your own professional career! Find more.

Paying Off Credit Card Debt Could Be As Simple As Selling Your Annuity

December 31, 2015 Finance Tips

Credit card debt is no laughing matter for way too many Americans today, and if you’re like most people, you’d love nothing more than to pay off all those debts and put them in the past. It’s hard to figure out how to get this money in the first place, but if you happen to own an annuity settlement, then the money is actually already right under your nose!

Selling your annuity is a great way to get a lump sum of cash (which you already technically own, by the way) and finally get control over your money so that you can use it in a better way — on something like paying off your debts, for example!

Selling structured settlement annuity payments does not involve breaking your annuity contract and it’s 100% legal. In fact, the process even requires legal documents and a court visit to ensure that all parties involved are on the same page. You won’t receive the entire amount of money that’s sitting in your annuity account, but you’ll definitely receive more money than you would if you broke the contract. Furthermore, you won’t have to watch that money slowly dwindle because of regular maintenance fees. Once you sell your annuity and have control over the money, you’ll be able to pay off all that debt you’ve been smothered by for years.

If you’re still not sure whether selling your annuity is the right choice, consider these facts:

The average American household pays about $950 in interest every year.
The average American adults owes $3,761 in credit to a variety of lenders at any given time.
All in all, Americans owe a collective $11.91 trillion in debt payments.

You definitely aren’t the only one with credit card debt — but that doesn’t mean you have to live with it forever.

Selling Your Lotto Win for a Lump Sum

December 29, 2015 Finance Tips

Do you have a structured settlement with a large amount of money due to you? Perhaps you’ve won the lottery, or a lawsuit. You have plans. Maybe you want to quit your job and see the world. Create a college fund for your kids. Buy your dream house on the beach. Start a business. But if you wait for the annuity to be paid out over time, it may be 30 years before you see all your money. You can however decide to get cash for your settlement and discover pre settlement loan benefits.

What to do when you win the lottery

Once all the excitement has died down, you find that it is a long wait for your money. And if you choose to stay wth the annuity settlement, it will be thirty years before you have all the money that’s due to you. Thirty years is a long time in anyone’s life and your goals and needs will have changed by then. You need the money now while you have the vision and energy to achieve your goals.

Also keep in mind that the value of money depreciates over time due to routine inflation and 5 million dollars will be worth less thirty years from now. On the other hand, if you sell your lotto win for a lump sum, you can access all your money now when you need it, to move on with your plans.

Cash for structured settlement: how does it work?

If you decide to get cash for your settlement, you will be working with a direct funder that has built a relationship of trust over time with banks and other financial institutions. If you’re one of the more than 37,000 Americans who use money from structured settlements each year, you may want to consider the pre settlement loan benefits of selling your annuity.

One of the benefits of an “immediate” annuity is that normally you can begin receiving payments in around 30 days. The vast majority – 92% – of those who sold their structured settlements report that they are satisfied with their decision.

So if you decide now not to wait for your money but to sell your annuity, thirty years down the line you may look back and think it was the best choice you ever made.

Commercial Real Estate Over Time, It’s A Proven Winner

December 24, 2015 Finance Tips

Whether it’s new properties built on spec or older sites vacated by previous owners, there’s always a wide variety of commercial property available for purchase. And many of the prospective buyers are seeing them strictly as investments, intending to hold the properties and hoping they appreciate enough in value over time to offset any costs that might be incurred during the period of ownership.

Strategies for finding and purchasing commercial real estate for sale can vary quite a bit, as significant changes in the market occur with regularity every five to seven years. But over time, investing in real estate has proven to be a reliable way to make money.

Real estate investment firms find it to be a consistently profitable business for those who make wise decisions, with annual returns ranging from 6% to 12%. Banks will typically lend 60 to 70% of the property value on commercial real estate for sale, so a down payment of at least 30% is required.

A Class A commercial building in a large city’s downtown area is classified as one that’s 250,000 square feet or larger. In the suburbs, the size is less clearly defined, but in general 50,000 and up is considered to be Class A.

If a corporation wishes to function as a real estate investment trust (REIT), it has to pay out 90% of its taxable profits as dividends on a continuing basis.

As you might imagine, New York is the world’s leading city for property investment, with about 7% of the total $788 billion market (as of June 2014).

In the first months of 2015, there had been ten consecutive quarters in which prospective investors had expressed growing interest in finding commercial real estate for sale.

This, of course, is a specialized area for investment, and there are pitfalls to avoid. Fortunately, expert advice is available for companies or individuals on how to buy commercial real estate.

Erase Debt by Selling Your Structured Payments

December 7, 2015 Finance Tips

Playing the lottery is currently the most popular and widely practiced form of gambling in the United States. Maybe you buy a scratch off from time to time or maybe you are an avid power ball player. Whatever your game may be you need to be aware of what your options are when you win big. Many people don’t know that lottery winnings are not paid out in a lump sum as they are typically advertised. Instead, the lucky winner receives lottery winnings in a monthly payout for up to several years in a process known as a fixed annuity. As you can probably tell that isn’t what a big winner wants to hear. Selling fixed annuities is an option many winners are choosing so that they can actually get a lottery lump sum payout. Here are a few things people do after selling fixed annuities:

1. Pay Off Huge Debts – In February 2015 alone there was a daily average of 3,422 bankruptcy filings in the United States. That statistic is absolutely indicative of how many Americans are struggling financially. Selling fixed annuities in order to get a lump sum payout is a way to end your struggle with debt. Whether you are behind on your mortgage or drowning in credit card or medical debt, you can use your lump sum lottery winnings to get rid of it for good.

2. Invest – Often times individuals who choose to sell annuity payments will discuss their options with a financial adviser who can guide them. Financial advisers will sometimes recommend putting the money into certain types of bank accounts so that it is protected and grows interest, and others will recommend investing the money. Although investing your money is a risk, there are experts available who can give you their educated opinion on how to grow your money.

3. Travel – Do you have a certain country that you’ve always wanted to visit, but didn’t have the funds? If you decide to sell your fixed annuity payments and receive a lump sump payment for your lottery winnings this can be your chance! You may not win enough to quit your job forever, but with the right money management you can afford a great trip for a couple of weeks or longer and finally see parts of the world you’ve always dreamed about.

The average American adult owes nearly $4,000 in revolving credit to lenders right now. Don’t be a part of that statistic. If you win the lottery don’t settle for a fixed annuity that will only give you a small amount each month. Sell your structured settlements and get the money you deserve.

How to Choose Between a Lump Sum or Annuity?

December 3, 2015 Finance Tips

There are two ways to get “free” money in the United States: sue someone or win the lottery. Before everyone goes out suing people or spending their life savings on lottery tickets, it may be helpful to know how “free” that money really is.

The Real Lottery

Winning the Mega Millions would be a dream come true for many, but the 25% immediately withheld by the federal government is sure to wake some from that dream. An additional 6-9% is withheld off the top for state taxes as well. Rather than receive a lump sum, lottery winners receive an annuity; the Mega Millions starts with an initial payment followed by 29 annual payments that increase by 5% increments. Winners are then plagued by additional administrative, early withdrawal, and other fees if they violate certain stipulations.

What to Expect With a Structured Settlement

In many cases, civil cases will settle outside of court awarding the claimant with a structured settlement for damages. There are over $6 million paid out every year to fund new structured settlements, making the average structured settlement payout $324,000. Like the lottery however, the annuity settlement received is paid out over a number of years and protected with similar fees.

Choosing a Lump Sum or Annuity

Lottery winners and structured settlement holders have the option to sell their payments for a lump sum of cash, although selling a structured settlement or annuity can cost surrender charges totaling up to 10%. While it is abundantly clear that there is no way to get 100% of the pie, selling your annuity could be the best way to get the most of your money quickly. A study found that 92% of claimants who sold their structured settlement were pleased with their decision. Picking a lump sum or annuity is a decision that only you can make, but it is an option that will always be available to you.

Cash Management Solutions What Are They, And How Do They Work?

November 18, 2015 Finance Tips

When running a business ? especially a small business ? the issue that stands above all others is money. But you know as a business owner that money doesn?t simply concern what you make and the bottom line. There?s also the matter of physical currency, and how cash is managed on the most basic level. In fact, many people who shop at stores on a daily basis don?t know what happens to their cash once they spend it, or how their personal cheques are cashed. Cash management solutions are incredibly important, not only to business owners but to those trusting them with their money. They not only lead to more responsibility overall, but more efficiency.

What Does ?Cash Management Solutions? Mean?

When discussing cash management solutions, you?ll usually find yourself talking about things like cin sorters, coin and note recyclers, and cheque scanners, among many other things. These systems make organizing money and scanning cheques much simpler. Furthermore, these solutions take human error, for the most part, out of the equation. This ensures that your business is less at risk of employee mistakes that you could be held accountable for ? not to mention the fact that it minimizes the risk of a poor employee getting away with theft.

What Are The Advantages Of Using Retail Management Systems?

First thing?s first: what do these machines do? Well, there are plenty, and they all have different functions and purposes. A currency counter machine, for example, can count everything from stacks of banknotes to loose collections of coins. While counting coins by hand is time consuming, often requiring two or three counting sessions, you?re still susceptible to mistakes. Only a cash counting machine can allow for 100% accuracy. There are also high quality cheque scanners available, which can scan and electronically deposit cheques throughout the day. Another thing that a cash management system can accomplish is simpler deposits for bank tellers. As they can identify which bills were inserted ? rather than simply how many ? currency counters in modern automated teller systems can allow for deposits without envelopes.

What Issues Can Cash Management Systems Prevent, Besides Theft And Miscounting?

A major issue faced today by bankers and business owners alike is counterfeit cash. Counterfeit cash isn?t simply useless; it actually can get those who take it, even unknowingly, in legal trouble. One of the oldest crimes in history ? becoming a serious problem in the 19th century, when banks issues their own currency ? counterfeiting is still very common, and relatively simple for criminals to accomplish. By using currency counters, you can not only keep track of money but in some cases identify counterfeit money on the spot. The bill will be identified and then, hopefully, traced to the source. In using cash management systems that can spot counterfeit money, you?re not only saving yourself a headache, but helping the government catch criminals.

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Author: Finance Tips