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Annuity buyout programs

Topic closed. 3 replies. Last post 13 years ago by CASH Only.

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United States
Member #2385
September 26, 2003
3 Posts
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Posted: September 28, 2003, 8:07 am - IP Logged

Hi all,

Does anyone have any information about companies that will buy out an annuity, like who they are and how much it costs to have it done?

Thank you

    hypersoniq's avatar - 8ball
    Pennsylvania
    United States
    Member #1340
    April 6, 2003
    2450 Posts
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    Posted: September 28, 2003, 8:24 am - IP Logged

    for who, just do a search using "cash for structured settlements" as keywords.

    for how much... it's the same as if you choose cash vs. annuity at the time of winning. you get "today's value" minus a processing fee... for a simple example, say you had 100,000,000 annuity ,you would probably get somewhere around 45,000,000.

    if your lottery gives you the option, take the cash and skip the middleman. Unless you feel you can't trust yourself with that much money and you are young enough... then the annuity might be a better choice... personally, I'll take the cash :-)

    Playing more than one ticket per game is betting against yourself.

      Bug's avatar - avatar php?userid=678402&dateline=1071851147

      United States
      Member #788
      October 15, 2002
      471 Posts
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      Posted: September 28, 2003, 8:32 am - IP Logged

       

      I met someone years ago who had a business that bought the annuities of lottery winners. Apparently after x amount of years the average winner is close to bankruptcy and willing to sell the annuity to obtain the cash at a loss on the dollar. I think this person did quite well with it.


        United States
        Member #379
        June 5, 2002
        11296 Posts
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        Posted: September 29, 2003, 7:09 am - IP Logged

        bnylons:

        You should always choose CASH/Lump Sum (whether you have to choose when you play, or if you don't have to choose unless you win, depending on the state/game.)

        This way, you don't lose money upon selling the annuity. If annuity looks good on paper, you should still choose CASH, then take part of the lump sum to buy an annuity.