Posts Tagged ‘annuity’

Questions about investing, Roth IRA, etc etc?

Saturday, July 17th, 2010

I am a 25 year old male. I have been receiving an annuity since I was 18, and I was scheduled to to receive it until I turned 29. This probably doesn't seem wise to most, but I just settled the rest of annuity with JG Wentworth for a lump sum of ,000.
So, basically, beyond paying off debt and traveling, I want to take a good portion of this money and invest.Problem is, I haven't the slightest idea how any of it works, and I guess I don't want to get too deep into it either (meaning I have no plan on buying individual stocks.)
Basically, I want to invest in a retirement account and a mutual fund. If I take ,000 dollars and split it up between the two, is that going to be enough to see any return? If I invest in a mutual fund, will other people take care of all the investing for me, without me having to be schooled on the stock market? Are mutual funds a better choice than just reinvesting in CD's every 3 or 6 months?
Thanks. Any help would be greatly appreciated. I'm clueless.

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is there a place that will cash out my pencion?

Friday, July 9th, 2010

along the lines of an annuity or settlement.

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Structured Settlements Lump Sum

Tuesday, July 6th, 2010

What Is Structured Settlement Annuity?

Structured Settlements - the Basics

Author: Greg Chan

Are you a victim of malpractice or personal injury? If you win a large case, you may have the option of getting a structured settlement. In a structured settlement, instead of getting paid in one lump sum, payments are made to you over time. Structured settlements are often set up by purchasing several annuities to guarantee payments over a long period. But why would anyone want to get paid over time instead of all at once?

 

The main advantage of a structured settlement is tax avoidance.  If set up properly, plaintiffs can have significantly less of a tax burden.  In some cases, structured settlements may even be tax-free.  By guaranteeing an income over a period of time, structured settlements can also protect plaintiffs from themselves.  Many people do not know how to manage their finances or cannot say no to family or friends.  Structured settlements essentially provide an "allowance" that would make it difficult for plaintiffs to splurge.

 

Many, however, feel that structured settlements may limit their options.  For example, plaintiffs sometimes have difficulty purchasing a home, or other large ticket items, if they are not allowed to borrow against future payments.  In addition, you may do better financially with a lump sum payment.  Other types of investments may give better rates of long-term return.  In addition, one should be wary of excessive commissions for annuities. 

 

When considering a structured settlement, plaintiffs need to be careful of any potential self-dealing.  There have been cases where lawyers pocket a large commission on an annuity that they set up for their clients.  Lawyers have also been known to recommend a financial planner to set up an annuity while collecting a referral fee at the same time.

 

Plaintiffs also need to consider their life expectancy.  Unfortunately, victims of malpractice or personal injury can have a shortened life expectancy.  Since many annuities cease payment upon death, it may make sense to insist that a minimum number of payments are made or that the remaining payments be paid into the plaintiff's estate. 

 

For more information on structured settlements, visit ProTaxFinancial.com

Article Source: http://www.articlesbase.com/personal-finance-articles/structured-settlements-the-basics-561776.html

About the Author

Greg Chan is a business and finance expert. He has written several articles on personal finance and structured settlements. For more information on structured settlements, visit ProTaxFinancial.com


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What is the best way to make money with $100,000?

Friday, July 2nd, 2010

To be blunt I have gotten a decent sum of money. After getting the family new house, car etc. We will have a good bit left over to make money off of. I am not looking to get rich fast or anything, but looking for something where I can get a decent interest check monthly or quarterly. If that is not possible (as I am finding out) I still can use the best option for some kind of growth.

There are so many options out there it is hard to find the best deal. I have been going all over town where we live speaking with everyone who says their plan is the best.

If you can help with input on which of these are best or anything I might be able to look into that I have not please let me know. Thanks

Stocks - Seem more like a big gamble right now due to the economy

Mutual Funds - Seems to be my best bet so far, fairly safe and steady growth

Annuity - Doesn't seem practical right now since the money is normally locked up til your 59ish. (i am 30 right now by the way)

Life and Viatical settlements - Seem morally wrong to me so I would not do those.

CD's - Have no intrest rate right now, might get about 1.5%

Savings Account - Close to CD looking at only 1%

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Anthrax Terrorist Attack (after 9/11/2001) unsolved – - Justice Dept. to pay $5.8 million to wronged citizen?

Wednesday, June 30th, 2010

Who's to blame here? Are the citizens of America safe from a future attack like this? Here's story as posted late Friday afternoon - - [a primetime for Bush administration to get negative stories out of the news cycle]
Army scientist who was named as a person of interest in the 2001 anthrax attacks will receive .8 million to settle his lawsuit against the Justice Department. Steven Hatfill claimed the Justice Department violated his privacy rights by speaking with reporters about the case.

Settlement documents were filed in federal court Friday. Both sides have agreed to the deal, according to the documents, and as soon as they are signed, the case will be dismissed.

The deal requires the Justice Department to pay .825 million up front and buy Hatfill a million annuity that will pay him 0,000 each year for 20 years.

''Our government failed us, not only by failing to catch the anthrax mailers but by seeking to conceal that failure,'' Hatfill's lawyers said.

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I need help with a problem in my Personal Finance class…?

Monday, June 28th, 2010

Here is the assignment question: After a protracted legal case, Joe won a settlement that will pay him ,000 each year at the end of the year for the next ten years. If the market interest rates are currently 5%, exactly how much should the court invest today, assuming end of year payments, so there will be nothing left in the account after the final payment is made?
Here is my answer: Formula:PVA = A * PV IFA
A = PVA (n = 10, i = 5%)
PV IFA
A = 11,000 = 1,424.56 (11,000 / 7.7217 = 1,424.56)
7.7217 (provided by table in text book)
So I was wondering if I answered this question correctly. Is this what the question is asking of me or is it suppose to be a different formula. From what it sounds like to me is that this is an annuity. Can anyone tell me if this is correct please?

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tax and investment advice?

Thursday, June 24th, 2010

I own a tree nursery, and my entire farm of trees was wiped out due to a late frost. I am receiving an insurance settlement for these trees in the amount of 0,000. Is this money taxable income? If it is taxable income, what can I do to reduce the tax effects (annuity, ira, etc). Please help

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can unpaid Annuities collect interest?

Sunday, June 20th, 2010

Hello, I had a accidental injury case which settled several years ago but I moved around and I never collected the settlement paid by an annuity. I have now found the insurance company that was to pay this settlement and I would like to know if my unclaimed settlement may have or was entitled to collect interest? It was settled about 15 years ago in the state of california county of los angeles.
Thanks
I was doing a search on the state of California UNCLAIMED PROPERTY site and found my name and the company that was to pay this. I was a minor at the time and did not have this information and the courts had to research it in their archives. I don't know if it was deposited to any bank as my mother had that information and is now lost.

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i need someone who knows abt settlements for minors..?

Friday, June 18th, 2010

I have a child comin with a settlement how do i choose the right option for either lumpsum or structure annuity.when i get confusing answers from the attorney?

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Does anyone know what a medicare set-aside is?

Tuesday, June 15th, 2010

My brother was injured on the job and in the settlement they gave him a medical set-aside , which is an annuity that pays for his medication and doctor visits. when those monies run out, medicade is supposed to pick it up until the next annuity gets deposited. (anually). My question is; how does this work. If anyone out there knows about medicaid set asides, please call us at 863-382-3783 or send an email. you would be very much appreciated

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