Don't play dumb here. Passive aggressive is still aggressive and is not allowed here.
Also, we only speak about your behavior with you, same as anyone else. We won't speak to you about any actions that may or may not be taken on others.
yeah sure i domt want to work. ive filled out countless applications and have done so many calls to get things going, yeah i could go get a job same day, but working at mc donalds isnt going to be a very good pay to support a family. an while i wait to hear from a actual good job im instacarting and doordashing everyday 7 days a week with only 2 hours spent at home because i refuse to not be making money and doing something. while youre death scrolling reddit building your 500k karma im working, so stop acting like you are my best friend and know everything about me 👍 if you wanna say what you think is a good or bad idea and give actual info than that’s appropriated, but im not looking for somebody to speak down on me when they know nothing about me or the situation. i can do the same, if you have your own kids im sure they absolutely hate their annoying narcissistic reddit obsessed father. imagine all that time spent getting 500k karma being spent with your girl or children, you have no proof behind your words, while your 500k karma says a lot an is actual proof lol
877 cash now
What are the details of the settlement? Does she get regular payments? What is your income? Do you have assets?
The value is reduced due to the time value of money. Money now is worth more than money later, as you are experiencing.
she gets 25k every year until 2027, than 30k in 2030, 50k in 2032, 100k in 2035, 120k in 2037, than also gets 890$ a month starting august 2027 until death or guaranteed 30 years
recently had to quit my job because of an incident, in the process of job searching like crazy so right now income is 0$. to make things better, last month lost every penny in savings due to a investment that went horrible. made a dumb choice and it couldnt have gone any worse, only asset is a car im paying off and ive been instacarting every second until a job gets back to me and even though im instacarting its only enough to make the payments and get a little food. its been a really bad struggle for a month now. her next payment of 25k comes in august so she will at least be okay. but at my rate its going to be a few years before i can buy us a house and she desperately wants one especially if she’s pregnant
How much are houses near you? Are you going to be able to buy a house in cash?
I feel like selling the settlement to dive into homeownership on what sounds like an exceptionally rocky foundation is a good way to lose your house. Houses can have significant expenses beyond just a mortgage
Money now costs more than money later.
What you're seeing is someone applying a discount rate of nearly 8.5% and calculating the net present value of this settlement. If you apply those numbers things come out to $304k.
Businesses don't exist to go out and seek a 4% operating margin. This is your price of doing business and your options are to go with the highest bidder or stick with the structured you have.
>is there anyway to get the number higher
You can keep trying to shop it around and hope for the best.
>or should we not sell it at all.
That's your choice to make. If you can wait 30 years, you'll have gotten it all. If you cannot (or don't want to), you'll pay for the privilege.
It looks like a reasonable offer.
When dealing with long-term financial instruments, and especially reducing them into a one-time transaction, you must be mindful of this: whatever the price is paid right now, it is essentially competing against all other forms of investment available to the buyer. In this case, whoever is buying your settlement will need to answer this following question: the lump sum I'm paying right now, can I put it into any other investment arrangement that would net me a better deal by the time it runs out? If yes, then it's not worth buying your settlement. Consequently, to figure out if an offer is good or not, you must find that price.
In case of a structured settlement, it's not like any regular stock purchase where you put 300k lump sum to buy 1k stocks and keep collecting dividends, then in 30 years you've collected a bunch of cash as well as you still own those 1k stocks that are worth whatever they will be worth. A structured settlement runs out, you deplete it entirely.
With that, we can approach it mathematically with some assumptions:
1) Looking at exactly 30 years, that is 360 months
2) Assuming we get monthly compounding interest
3) Assuming we expect monthly payments of 1944
4) Assuming our most attractive investment option is a 7% per annum (0.583%/mo) hedge fund
Our investment experience will come up to the following:
At the beginning of month 1, we will have x dollars in the bank,
At the end of month 1, we will multiply our current bank value by 1.00583 and remove 1944
At the end of month 2, we will multiply whatever remains by 1.00583 and remove 1944
...
At the end of month 360, we will multiply whatever remains by 1 + (0.07/12) and remove 1944, leaving 0 in the bank.
The total initial investment on these terms amounts to 292 197.91
If we put 304 000 in today at the same terms, we will get all those payments and still be left with 95 791.62 in the bank.
So whoever is offering you 304k doesn't feel like they can go somewhere else to get 6.61%/year interest compounded monthly on that investment.
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Personal attacks are not okay here. Please do not do this again.
are you saying that to me or him or both of us?
A warning in response to your comment will be to you. We give feedback individually.
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Don't play dumb here. Passive aggressive is still aggressive and is not allowed here. Also, we only speak about your behavior with you, same as anyone else. We won't speak to you about any actions that may or may not be taken on others.
yeah sure i domt want to work. ive filled out countless applications and have done so many calls to get things going, yeah i could go get a job same day, but working at mc donalds isnt going to be a very good pay to support a family. an while i wait to hear from a actual good job im instacarting and doordashing everyday 7 days a week with only 2 hours spent at home because i refuse to not be making money and doing something. while youre death scrolling reddit building your 500k karma im working, so stop acting like you are my best friend and know everything about me 👍 if you wanna say what you think is a good or bad idea and give actual info than that’s appropriated, but im not looking for somebody to speak down on me when they know nothing about me or the situation. i can do the same, if you have your own kids im sure they absolutely hate their annoying narcissistic reddit obsessed father. imagine all that time spent getting 500k karma being spent with your girl or children, you have no proof behind your words, while your 500k karma says a lot an is actual proof lol
Don't still it. It's a financial insurance policy for life
877 cash now What are the details of the settlement? Does she get regular payments? What is your income? Do you have assets? The value is reduced due to the time value of money. Money now is worth more than money later, as you are experiencing.
Goddamnit now the jingle is back in my head.
she gets 25k every year until 2027, than 30k in 2030, 50k in 2032, 100k in 2035, 120k in 2037, than also gets 890$ a month starting august 2027 until death or guaranteed 30 years
recently had to quit my job because of an incident, in the process of job searching like crazy so right now income is 0$. to make things better, last month lost every penny in savings due to a investment that went horrible. made a dumb choice and it couldnt have gone any worse, only asset is a car im paying off and ive been instacarting every second until a job gets back to me and even though im instacarting its only enough to make the payments and get a little food. its been a really bad struggle for a month now. her next payment of 25k comes in august so she will at least be okay. but at my rate its going to be a few years before i can buy us a house and she desperately wants one especially if she’s pregnant
How much are houses near you? Are you going to be able to buy a house in cash? I feel like selling the settlement to dive into homeownership on what sounds like an exceptionally rocky foundation is a good way to lose your house. Houses can have significant expenses beyond just a mortgage
Money now costs more than money later. What you're seeing is someone applying a discount rate of nearly 8.5% and calculating the net present value of this settlement. If you apply those numbers things come out to $304k. Businesses don't exist to go out and seek a 4% operating margin. This is your price of doing business and your options are to go with the highest bidder or stick with the structured you have.
>is there anyway to get the number higher You can keep trying to shop it around and hope for the best. >or should we not sell it at all. That's your choice to make. If you can wait 30 years, you'll have gotten it all. If you cannot (or don't want to), you'll pay for the privilege.
It looks like a reasonable offer. When dealing with long-term financial instruments, and especially reducing them into a one-time transaction, you must be mindful of this: whatever the price is paid right now, it is essentially competing against all other forms of investment available to the buyer. In this case, whoever is buying your settlement will need to answer this following question: the lump sum I'm paying right now, can I put it into any other investment arrangement that would net me a better deal by the time it runs out? If yes, then it's not worth buying your settlement. Consequently, to figure out if an offer is good or not, you must find that price. In case of a structured settlement, it's not like any regular stock purchase where you put 300k lump sum to buy 1k stocks and keep collecting dividends, then in 30 years you've collected a bunch of cash as well as you still own those 1k stocks that are worth whatever they will be worth. A structured settlement runs out, you deplete it entirely. With that, we can approach it mathematically with some assumptions: 1) Looking at exactly 30 years, that is 360 months 2) Assuming we get monthly compounding interest 3) Assuming we expect monthly payments of 1944 4) Assuming our most attractive investment option is a 7% per annum (0.583%/mo) hedge fund Our investment experience will come up to the following: At the beginning of month 1, we will have x dollars in the bank, At the end of month 1, we will multiply our current bank value by 1.00583 and remove 1944 At the end of month 2, we will multiply whatever remains by 1.00583 and remove 1944 ... At the end of month 360, we will multiply whatever remains by 1 + (0.07/12) and remove 1944, leaving 0 in the bank. The total initial investment on these terms amounts to 292 197.91 If we put 304 000 in today at the same terms, we will get all those payments and still be left with 95 791.62 in the bank. So whoever is offering you 304k doesn't feel like they can go somewhere else to get 6.61%/year interest compounded monthly on that investment.