Congratulations, you won the lottery, court proceedings or other huge compensation, but now? You don't want to wait 20 years to complete the payment, so you get stuck, right? Well, incomplete, let me explain.
The first thing you need to know is the time value of money. This means that the money on hand today is always worth more than 10 years, 20 years or more. why? This is because the money in your hands gives you the opportunity to make more money through compound interest. For example, the $1.5 million paid in 20 years will give you approximately $75,000 in annual revenue. However, a one-time payment of $1.5 million can easily give you $75,000 in the first year, and you can enjoy more than $150,000 in benefits in the fifth year! When you reach the 10th year, your salary may exceed 200,000 US dollars, and will not touch your next egg. Cool, huh?
But where are you turning? The choices there are extensive, but you must remember that not all resources are legal. Think of it as a credit card institution, and there are many options for your compensation settlement. Option #1 can only give you 70% of the total value, while one-time compensation settlement option #2 may give you 78%. Which one would you choose? Of course, #2 but that's the point - you need OPTIONS.
So, the first step is to make as many quotes as possible without spending all your time.
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Orignal From: How to deal with huge compensation and settlement
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