3 Easy and Different Ways to Invest Your Money Now

different ways to invest your money

Looking for a smart way to spend your lottery winnings or structured settlement agreement? Make your money work for you by investing it.

When we think of “investments,” we tend to think only about playing the stock market, which can be a risky business if you don’t know what you’re doing. But making an investment simply means that you’re going to put your effort or money into something now with the expectation that it will grow and provide you with even more money than you started with some time in the future.

There are different ways to invest your money besides stock markets or savings accounts. Here’re just three big ones to think about:

  1. Business Investments:Maybe you’ve always dreamed of starting your own company, bakeshop, or service, but have never had the funds to set it up. Starting your own business is expensive — on average, $30,000 expensive, according to the Kauffmann Foundation. But if you have the right idea and the right tools, it can provide a wealth of future fulfillment.

    If you’re not the self-starting type, though, you can still have a hand in future businesses by becoming a financial partner in a start-up or offering peer-to-peer lending services for other dreamers. Does your mom really make the world’s best meatballs? Prove it by helping her launch a new restaurant!
  2. Educational Investments:You’ve heard it before: An education is the best ticket to a good future. Higher education these days, however, is going to cost you a pretty penny. Private college tuition is up to an average $31,000 per year while in-state tuition at public universities costs around $9,000. When considering different ways to invest your money, this may be the most important for you or your child. A college education helps to ensure not only that you’ll secure a good job, but that you’ll find the best ways to put your skills and talents to use in the world.
  3. Pay Off Debt:Paying off your student or credit card debt might sound like more of a chore than an investment, but it truly is a way to save yourself money down the line. If you’re paying interest on outstanding debt — and the average household has about $129,579 worth of it, over $15,000 of which comes from credit cards alone — then you’ll be much better off paying as much as possible now to avoid continuously increasing interest rates that never seem to go away. Think of all the extra money you’ll have once all that debt is put to rest!

You don’t have to be a Wall Street wizard to make a smart investment. Personal betterment might be the best of all the different ways to invest your money. With it, you’ll secure yourself a bright and happy future — along with all the financial benefits!

The Increasing Costs of Renting vs. Buying a House

There comes a time in one’s life when moving doesn’t just mean the flurry of a few weeks of apartment or house viewing and packing some boxes. Instead, it will elicit a much larger decision: keep on renting or decide to buy.

Owning a home offers much more autonomy and freedom than renting does — structural decisions and property management are entirely up to the owner. There is also the security of never having to worry about having a place to live, along with the pride in ownership and the value that a house will accrue over time. But before you take the plunge, it is wise to consider a cost-benefit analysis of the true costs of renting or buying, so that you can make the right decision.

In May 2015, sales of existing homes increased to their highest pace in six years, and first time buyers made up 32% of the sales, as reported by the National Association of REALTORS. But, even as the housing market continues to improve, millions of Americans remain stuck in rental housing — often unwillingly.

According to Harvard University’s Joint Center for Housing Studies, the U.S. homeownership rate has been falling for eight years. From a peak of 69% in 2004, the rate went down to 63.7% during the first quarter of 2015. Negative effects of this decline in homeownership hit the rental market particularly hard; on average, the amount of new rental households has increased 770,000 per year since 2004. The years 2004 to 2014 became the strongest decade of rental growth since the late 1980s, credited in large part to the subprime mortgage crisis that severely damaged the U.S. and world economy and caused a severe recession in 2008.

Before you assume a mortgage, it’s important to make sure you have safeties in place and a repayment plan established. Otherwise, you could be part of another housing market crash — in addition to losing your home and destroying your credit.

Indeed, owning a home is not without its challenges, financial foremost among them. Owning a home costs the average American about $1,459 a month — that’s $17,500 a year. The 2015 fair market rental data, released by the U.S. Department for Housing and Urban Development and analyzed by RealtyTrac, showed that the fair market rent for a three-bedroom property in 2015 will require an average of 27% of a median household income. A median-priced home would require an average of 25% of median income, based on median sales prices from November. Considering other costs for a family (school tuition, medical care, and groceries), the costs of a home leave little disposable income for a typical family.

Renting, on the hand, does leave a little more wiggle room when it comes to expenses. Although many of the freedoms and securities of homeownership are not available, monthly rent is predictable, and there is no need to worry about unexpected repairs. The freedom to leave when your lease is up in many ways offers more control and flexibility — you get to decided whether or not a place suits you.

Renting and homeownership are two very different approaches when it comes to one’s living situation and are suited to particular times in one’s life and financial situation. Considering all the facts, including how the nation’s housing market is doing in addition to your own needs, can help make the decision of whether or not to keep on renting or to buy a house.
buying a house

Pending lawsuit, Need Money Now?

In addition to the emotional and physical effects of being involved in a personal injury lawsuit, victims are also frequently faced with enormous medical and legal fees. Until the case is settled, these fees are the responsibility of the victim. Unfortunately, in most personal injury cases, the legal process is both long and complicated, often lasting several years.

During this period, victims must keep up with the costs associated with their case as well as their daily living expenses. This financial stress leaves many victims wondering whether it is possible to secure extra cash to help cover necessary expenses while awaiting their settlement.

Get cash for a pending lawsuit

Fortunately, getting cash for a pending lawsuit is possible. To help victims afford expensive medical bills and legal costs, certain companies specialize in providing pre-settlement cash advances that provide victims with a portion of their settlement upfront. The amount of cash a person will receive depends on the estimated value of the settlement, level of risk and the amount of time it will take to conclude the case. Victims are not required to make any payments towards the advance during their case. Instead, repayment will correlate with the period in which the settlement is received. Additionally, because the cash is an advance of your settlement and not a loan, you will not be required to repay the amount should you happen to lose your case.

While some victims may be wary of borrowing against their settlement, there are numerous advantages to accepting a pre-settlement advance. The first is that, unlike traditional bank loans, pre-settlement advances are extremely fast. In many cases, applicants can be approved within as little as one day and receive their money shortly thereafter. Making sure you get the money you need will not only help you continue to afford the best legal representation, but it will help you avoid quickly settling your case for less than you deserve due to financial hardship.

Another benefit of getting a settlement advance is that the process is easy and anyone who is currently pursuing a settlement may quality. Advances are not approved based on citizen status, credit history or income. As long as you are the victim in a personal injury case, medical malpractice case or even workers compensation case, you may be eligible to receive the cash you need.

If the costs associated with your personal injury case are making it difficult to stay above water, take the first step and request a quote from a trusted and experienced pre-settlement lender. Getting cash for a pending lawsuit is one of the best ways to eliminate stress and ensure that you remain afloat during this difficult time.

It’s a Good Time to Buy a New Car

 

 

 

 

 

 

If your current automobile is beginning to spend more time in the repair shop than in your garage, then it may be time to consider purchasing a new car. Today, car manufacturers are enhancing their automobiles with safety options, comfort features and high fuel efficiency rates. Moreover, a new car is less likely to spend time with your mechanic.

How much should you spend?

Financial experts recommend that you keep your car payment to 20 percent of your monthly take-home pay or less. Be sure to use the 20 percent figure for all of your cars, so if you bring home $4,000 a month, then your car payments should not total more than $800 a month. To calculate your monthly payment for a vehicle, include your car’s purchase price, down payment and interest rate along with the term of the auto loan. The interest rate and your down payment will make a big difference in your car’s monthly payment.

Before you bring home your new car, be sure to contact your auto insurance company to make sure that you can afford your new insurance rates. Also, assess the vehicle’s fuel costs, maintenance and potential repairs. Keep in mind that your car’s model will affect your insurance and repair expenses. For instance, your auto insurance company will charge you more to insure a sports car than a sedan. Also, these types of vehicles usually have higher repair costs.

Financing Options

You can obtain financing before you purchase your car. In fact, when you visit a dealership with your financing in place, it may give you more negotiating power. Today’s car dealerships usually work with lenders to help you finance your vehicle. However, they receive compensation to process your loan. Therefore, you may not receive the best deal through a dealership. Before you agree to an auto loan, try to locate one that will let you pay the balance for your vehicle early without penalties. You may also consider selecting a loan that will accept extra money toward the car balance each month, which will help you pay off your car early.

Car Loans and Credit History

Your credit history is likely to affect your car loan’s interest rate. Once you begin borrowing funds to pay for large purchases, the three main credit bureaus will start tracking your payment history. As a result, they will determine your credit worthiness by giving you a score that ranges from 300 to 800. People with higher credit scores typically receive the best interest rates. If your credit history is in the lower range, then you can still qualify for a car loan, but you should expect to pay more in interest.

With the many financing options available and the variety of car models on the market today, you should be able to find and afford a quality automobile.

Tips for Your Settlement Transfer Hearing with 123 Lumpsum

You’ve signed your contract and were informed by your account executive that a hearing date has been set, now what? Below are suggestions for what to expect both prior to and at the transfer hearing, along with tips to assure you have the greatest chance of successfully assigning your structured settlement payment rights.

During the week prior to your hearing date, you will receive a phone call from 123 Lumpsum’s attorney who will be presenting the material to the court. He or she will tell you when and where to meet, will review the reasons for your transfer and will let you know what types of questions you can expect from the Judge.

For the day of the hearing, please remember to dress appropriately for Court; a good rule of thumb is to wear clothing for Church or any other religious sanctuary. Please bring personal photo identification and any documentation that can be used to demonstrate your needs for the transfer (our account executives will assist you with this in advance if needed).

Also, please remember to be very respectful to the Court; the way you present yourself could influence a Judge in determining whether to grant approval of the transfer. Knowing why you want to transfer your structured settlement payment rights and being able to honestly convey this information to the Court is highly recommended. It is also very helpful to tell the Court that you were disclosed all of the basic terms of this transaction and that you were informed that you could have obtained or did obtain Independent Professional Advice (IPA).

Finally, don’t be nervous! Remember you are not on trial; the purpose of the hearing is for you to have the opportunity to tell the Court why you need to transfer your structured settlement payment rights and why the transfer should be approved.

If you have questions please contact your account executive any time at 1-800-400-9123.