Wednesday, February 29, 2012
Some companies will give you cash for your annuities. (Don't do it!)
I’ve noticed recently that there are companies that will buy your annuity and give you cash now. To me, it sounds imprudent – it sounds like something people turn to when they have those upside-down-mortgages. I hear a lot about premature withdrawals from 401(k)’s (with penalty), but not about this.
Some of the companies include Novation Cap, J G Wentworth, Woodbridge Investments.
This does sound like another topic for the media finance gurus to write about. I have a feeling that these would get smackdowns from Suze Orman.