Winning a huge amount of money on the lottery is something that many of us may dream of but in these modern financial times, it is rare that any winner will receive a huge amount of cash in one go, instead many of the lotteries now award an annuity. An annuity is a an agreed amount of money to be paid in regular payments over a certain amount of time and usually in the case of lottery winners, that amount of time is often the length of their life; a regular payment for as long as they live. Annuities do not have to be won though they can also be bought. They are bought by making an agreement that by paying in a certain amount of money, a regular payment is given but in these instances the number of years is specified and agreed on.
Similar to annuities are structured settlements but they are not won or bought instead they are usually awarded by a court in cases of personal injuries that have been attributed to a third person. The court will determine an amount of compensation that should be awarded and then will usually specify the terms of a structured settlement by which the compensation should be paid but once again, these will be regular payments which are made for a certain number of years.
Although anybody would be pleased to receive a regular income that a structured settlement or annuity can provide, there are those that would prefer one lump sum. The benefits of a structured settlement are perhaps obvious as it means a guaranteed income for the length of the settlement but the disadvantages are perhaps not so obvious. Although a structured settlement may sound good at the time it is awarded, as the years progress, the amount of money awarded for each payment, gradually becomes less valuable in terms of buying power and sometimes the value can devalue rather quickly, especially during a recession. This means that if one lump sum had been awarded instead, astute investing could have resulted in a higher return for the injury.
These days though, regardless of whether you have an annuity or a structured settlement, it can be bought which means you can receive a lump sum from someone who agrees to pay in return for receiving your payments. These agreements will either be for the specified length of the structured settlement original agreement or in the case of lottery winners, a set amount of years, perhaps 5 or 10. In the case of the latter, obviously if the lottery winner dies before the agreed number of years, the person that paid them the lump sum would no longer collect any payments and so have to take out insurance against that happening. The companies that buy structured settlements and annuities often offer up the agreements for investors to buy. These can be good investments as they assure any investor a regular income regardless of how their other investments may perform.
Before committing to a decision, you should first know about a subject. That’s to say, if you’re interested in trying out reverse mortgage, you should inquire about it first. That’s because you have to do more than just apply so that you could receive loans or funding for your needs. You still have to show that you’re eligible. Before a lending institution would provide you with money, you’d still have to prove that you’re of the right age, have the money to pay for debts later on, the owner of your house and also someone who doesn’t have existing responsibilities that may be hindrances to making payments later on. Prior to deciding that reverse mortgage is something that is definitely for you, it would be best if you would just ask yourself a few things first just so you’d be sure whether or not it really is ideal for your situation.
You have to ask yourself if you can commit to paying off debts with interests, even though you may not have plans to move elsewhere from your home currently. That’s because you may be compelled to vacate your house for whatever reason and, with reverse mortgage, you’ll have to settle your debts if your loans would be accepted and when you’d give up ownership over your house. With the way the aforementioned mortgage loan works, you would not have to pay anything or at least much since you’d use your house as collateral. However, you would be forced to settle any debts related to your home and pay off a lender what has been lent to you if you won’t use your house as payment. It’s really not perfect for you if you’ve got some heirs in mind that you want to leave your house to after you depart from this world or if you don’t want to leave your children or close relatives debts after you pass on. You can go for it, though, if you wish to take advantage of your home to get money. With it, you could obtain money whilst keeping your ownership.
Before your application for the said loan would be approved, as said, you still have to show that your sixty-two years of age or above. Basically, you have to be a senior citizen in order to qualify for this kind of mortgage loan. That’s because it’s a home loan that’s specifically designed for homeowners that are aged. Aside from proving that you’re a senior, you still have to verify that you’re also someone who has what it takes to pay for debts because lenders would only give loans to those who would be able to pay if ever they would decide to sell their house or move somewhere else. Of course, you also have to have a home that is in great condition or that currently has a high resale value. Take note that lending institutions offer this kind of loan so they could also have the advantage of having money in the future and that’s why you could only avail money when you’d be able to show that your house is one that’s worth getting. For some more information that you could use, search for guide to reverse mortgages now.
Although having an amount of either could make you wealthy, there are differences between paper money and gold and some of those differences are that gold cannot be counterfeited or printed, ensuring that not too much is produced, lowering the value of what you may have. Its value cannot be artificially inflated by any one government as it is an internationally recognized commodity. It is perhaps unique in so far as it is beautiful, rare and cannot be destroyed and fortunately, it is very valuable. Obviously then, it would seem because of these differences, that gold would be the better of the two to have as wealth and certainly would be a good thing to have as security for a financially worry free retirement. Unfortunately though many people do not know how they can purchase gold but top Karatbars International an e-commerce company can advise them. In fact, this is a company that operates in 120 countries and not only can it show you how to buy gold but, it can also show you how to get others to buy gold for which you will receive an added income yourself.
One of the best reasons for having at least some of your savings in gold is that as gold is priced in US Dollars, as the price of the dollar declines, the value of old goes up. This means that if you have savings in both US Dollars and gold; both will never reduce in price at the same time yet, both could increase in value at any time. Unlike money, gold is not subject to the very volatile stock market which can and has, like in 2010, left many retirees with far less financial security than they had expected, due to the financial crisis at that time.
Of course gold, as with other precious metals, can fluctuate in value sometimes even decreasing in value but historically, gold has always continued to increase in value, all be it perhaps not as fast as some stocks could but there again, those same stocks could crash the next day which the value of gold will not.
Often people may think that the saving of gold is something that is limited to the rich but that is not the case as, gold can be bought and traded in amounts as little as 1 gram which is affordable for most people. Gold has always been a thing of value and still remains so today. This means that gold as an investment for your later retirement; is an unrivalled asset which will not lose value regardless of how a country’s financial situation may depreciate. As this has been the situation for many years, it is very unlikely that it will change at any time in the near future almost certainly at least not until after you have retired. Once you do retire though, you will see that transferring that gold back to paper money is just as easy as it was to buy the gold in the first place, at a profit of course.
Instead of putting your money in other things, you should know how to buy gold now and then purchase some for yourself. That’s because this is the precious metal that is flexible, very useful and expensive. You can not only sell it to gain money or change its shape to apply to gadgets but also wear it on your body as jewelry. It’s indestructible and almost all countries worldwide see it as something that is truly precious. If you’re interested in making the most out of your resources when it comes to investing, you should purchase gold. But, before you buy any, you should be wise and purchase those that are really worth spending on. Take note that there are gold products that are pure and those that are alloys. Plus, before you purchase any gold, you have to know how to keep and transport it as well. For some tips on how to get yourself quality gold and then take good care of it for future use, please continue below.
There are many places around the globe where you could purchase some. You can even buy online too. For you to conveniently purchase a couple of gold items, you could try putting ads on newspapers or on the web so that people who have some may sell them to you. You could do that or go directly to pawnshops or jewelry stores. Right now, though, you could get “virtual” gold or representations of it as well because there are accounts where gold are is stored that are offered to people today. But, just to make sure that you’d get what you paid for, experts say that a person should just stick to physical gold instead. You can get gold coins, if you can’t afford to purchase gold bars. Still, when you buy some, you should be mindful about the type of gold that you’d buy. If you could, you should go for 24 karat gold so that you would get something that is mostly pure. Whole gold is more expensive than those that have mixture of other metals so you should get those that are so as much as possible.
Aside from buying gold, you should also purchase containers where you could put what you bought as well. That’s so you would keep them safe from being stolen. Make sure that you get a box or any solid container that can be locked. You may settle for jewelry boxes but it would be best if you’d store gold inside of a safe. If possible, you shouldn’t entrust your gold with a bank or any institution that have several safety deposit boxes and that’s because there have been cases wherein reputable employees have stolen the items that were entrusted to them by their clients.
Before you’d buy gold from any seller from karatbars, it is important that you should also know how to transport what you’d purchase. You can always wear jewelry on you after you bought it but if you’re going to buy coins or bullions, for instance, then you should have a special container where you could keep them safely whilst traveling.