These days, relatively few retirees make it from school to retirement with one employer. Even those who do often retire early as a result of company downsizing. Many people, either by their own choice or due to circumstances beyond their control, find themselves retired while still in their 50s (or 40s, in the case of military personnel) and capable of doing much more than fishing and golfing day after day. Often, receivingpension buy outs from companies that buy annuities, allow these younger retirees to pursue other interests before fully retiring.
Pension buy outs aren’t for everyone, and a good deal of thought and consideration should go into the decision to sell all or part of a pension. Still, if you find yourself retired before you’re ready to or starting a second career while receiving a pension from your first career, there are situations in which it makes perfect sense to sell your pension. Pension buy outs offer you a large lump sum in return for assigning part or all of your monthly pension payments to the company who offers pension buy outs.
Most companies that buy annuities also offer pension buy outs. Essentially, a pension is an annuity. Most forms of long term payments, including structured lawsuit settlements and pensions can be sold tocompanies that buy annuities.
Many retirees today have multiple income streams. It’s not uncommon for a retiree to have a pension (or several, if he or she has held more than one job), 401Ks, privately bought annuities, and income from a second job or career. When the need to have cash on hand outweighs the need to have additional income streams, it may make sense to look into companies that buy annuities.
Today’s retiree is as likely to want to start a new business or go do the things he always wanted to do (but couldn’t because he was working) than to sit back and take it easy in a Laz-E-Boy recliner. People are retiring earlier and living longer than ever. As one retiree put it, “A man can only do so much fishing before he’s ready to work again.”
Where will your retirement years take you? It’s up to you. One thing’s for sure: you don’t have to sit around and watch the grass grow. Whether you choose to take up a new career, start a business, or just enjoy a slice of the good life, your only limitation is your ability (or lack of ability) to pay for what you want. And even if your pension is a little light when it comes to affording the extras you want in your retirement, pension buy outs can help you by providing cash on hand.
Buy-My-Annuity.com (BMA) is a diversified financial services company that specializes in assisting clients sell their Annuity or Pension income stream. BMA offers a solution to its client’s financial problems by assisting them sell their income stream for a lump sum of cash so they can get ahead to pay off debt, start a business, complete a project, or do whatever they want. http://buy-my-annuity.com