May
7
Money for structured settlements
May 7, 2008 |
I perssonlly know a few people who have gotten Structured Settlementafter a big car accident. Two of the people used a company like the one I just linked to get their money now instead of in the future. The other was a minor girl whos mom made the desicion to take it over a thirty year period. So she doesnt get as much I think maybe a few thousands a year. So by time she gets her money inflation will be huge and her money will be worthless. I know about inflation first hand. My grandfather saved up some money over $100,000 maybe up to $200,000. Back in the early 80s this was a larger amount. You could buy a home here in Portland Oregon for around $80,000. A few years before that maybe end of the 70s you could find 2 bedroom homes for $30,000. So it was a decent amount of money for the time. I grandfather died and left it to my grandmother that moved in with our family. So to this day they never did anything with the money. They left it in the bank making barely any money from interest. My guess maybe around 5% or whatever certificate of deposits get. So if i was to get a Structured Settlements I would for sure take the money up front and not in the installments. By time you get that money inflation will just lower the buying power.