Trying To Sell 19 Year Annuity At Discount...any Ideas?

[WECpoker]

pension buyout?

Won it actually..but took a lot of work to do so

 

[insuranceexec]

Based on the numbers you have given, an investor giving you $75k would realize a before tax return of 4.44% over that 19 years and if they gave you $90k they would realize a 3.44% pre-tax return.

While those percentages may be acceptable for a short term period, they are EXTREMELY unacceptable for a 19 year time horizon. Your expectations are unrealistic.

As for the question about the immediate annuity business being down to zero, just about. One of the main equations in immediate annuity payouts is the underlying interest rates. And unless you've been hiding in a cave with no access to information, you know that interest rates are at a historic low. I wouldn't recommend anyone doing an immediate annuity right now for that reason.

Your best hope is a loan. I'm surprised that a bank wouldn't offer a loan using the immediate annuity as collateral. Seems to me you could sign some paperwork assigning payment directly to the bank from the annuity payout. Of course, they may prefer to receive their money in monthly installments since that's how most loans work. Can you change your payout to monthly? I would also assume they would want you to have decent credit. How is your credit?

I think you are a little misguided in calling these companies that buy annuities a rip off. As you can see, the returns I posted aren't attractive to someone parting with that kind of money for a 19 year time frame. Just out of curiosity, why did you purchase an immediate annuity?

Perfectly said! Instead of an immediate annuity an individual is better off going with an income ladder.

 

[padthaiforlunch]

Use it as your side for a prop bet. If your opponent thinks they have the best of it on the prop, then you can value your annuity at a higher rate.

 

[somarco]

Could be a pension buyout, but the more likely is a structured settlement from a civil action. Regardless, at least he has some insight into options.

 

[WECpoker]

Just to satisfy curiousity..it was won in a contest

 

[somarco]

Poker contest . . .?