Annuities can be a powerful retirement investment tool; a way to invest money now that will pay you back in installments after retirement. But situations change and sometimes they can be an unnecessary part of a retirement financial plan and may represent money you wish you could get back to reinvest in a different opportunity.
If you find yourself in possession of an annuity and you would rather have a lump sum of cash, it's possible to get cash for an annuity from a specialty finance company like J.G. Wentworth.
There are a number of reasons someone might give JG Wentworth a call in order to get cash now for an annuity:
• To use the annuity money for an investment
• Buy a home
• Start a business
• Send a child to college
• Cover medical bills
• Reduce debt
It's also common for retirees to find that they don't need the monthly or other regular annuity payments. If you have another income source, it may be in your best interests to get cash for your annuity and invest the money where it provide more benefit to you.