Financial Portfolio and the Controversial Choice

By Tommy Flemm 6 years ago
Depressed couple doing their accounting

There have been recent firey discussions in the news, and on financial blogs regarding the current market of annuities. What importance they can play in one’s financial portfolio and the controversial choice of cashing out of one’s investment or settlement.

To ensure one makes the right decision and doesn’t cave to the pressure, which is often present in financial transactions, the US Government set forth guidelines to help its citizens make informed choices. Choices that are not just for the time being, but also choices that will have an impact

on their future. The Federal Trade Commission (FTC) released their recommended questions to ask when selling my annuity is being considered, by either the owner of the annuity or a beneficiary.

Furthermore, the FAQ (frequently asked questions) from The University of Wisconsin also is valuable regarding annuities and understanding the choices available.

For financial advice, the traditional banking system has long left the assistance of the middle-class customer. Monthly banking fees and zero interest is given on consumer money invested in the bank. Banks used to treasure customers big and small. Now, they only cater to the wealthy. There is a better alternative. There are consumer unions which are popping up across the country, and they are neither banks nor credit unions. They are focused on delivering financial advice and recommendations to the middle class that typically is only available to the upper class. One such consumer union is NLRB Financial Consumer Union.

According to their director, Michael Haynes, most middle-class families have major financial issues. “Their current homes do not adequately provide for their growing families, their careers are in a rut as they never finished their degree, or medical bills are so high that all of their income is depleted, and adds stress in living paycheck to paycheck,” said Haynes.

Selling their annuity payments is one way out of this constant cycle of stress, and will allow them to right themselves, get out of the burden of debt or a dead-end career and be able to achieve that which they know they can.