by Structured Settlment Watchdog™
An official August 26, 2014 post to the Seneca One Facebook page actually says this "Do you want to retire broke? It's scary to think about it. But not impossible to avoid--especially if you are receiving structured settlement payments" Pure aggressive BS from a member of the National Association of Settlement Purchasers. Download Seneca One Finance Retire Broke- Financial Services - Timeline _ Facebook 8-26-2014
People live off their income, not their assets. If you have a structured settlement and it's paying you a guaranteed income tax exempt "salary" of $60,000 annually for your lifetime, that is more than the what the U.S. Census Bureau states is what the average working American earned during 2012 before tax!
If structured settlement payment rights are considered an asset and liquidated for investment purposes, the unfortunate seller who buys into Seneca One's BS, trades stable guaranteed income for an investment of only a fraction of the present value because of the discounting to present value and the costs and profit for the settlement purchaser that are built into the transaction.
I really hope Mark Perriello of the AAPD is reading this. Like him, I am in favor of a structured settlement secondary market. It just needs some enforceable regulations and rules concerning sales practices and the manner in which people are solicited.