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May 10, 2018

The Stacking Benjamins "Brain Fart" on Selling Structured Settlements for Seniors

by Structured Settlement Watchdog

What is the leading concern for senior citizens and many Americans, in study after study?  Outliving their assets.   What do structured settlements annuities do for seniors? 

Guarantee stable income for the rest of their lives.  The tax benefits are secondary.  Read our page on Structured Settlements for Seniors and Settlement Planning for the 60+ crowd

Yet Stacking Benjamins, the  2017 "Best Personal Financial Podcast" gave really crappy financial information about selling structured settlements for seniors.  Here's what the reckless Benjamin stackers said in 2014:

"Inconsequential loss of tax benefits for senior citizens or unemployed beneficiaries of annuities –Another factor that can make it easier for a person to make the decision of selling off structured settlements is that the implications of losing out on the tax benefits are not too severe. Academic research carried out the Center for Retirement Research at Boston College has concluded that tax benefits of structured settlement annuities do not actually translate into anything substantial in terms of savings. Moreover, senior citizens anyways have tax exemptions, which can make it easier for them to go for selling structured settlement".

Ben_franklin_fart_proudly
While Benjamin May Have Enjoyed "Toots Galore",  He Might Have Rejected Stacking  Benjamins' "Flatus Cerebrum"  Given That He Was a Senior in 1776.
 
Pillow available for purchase  on zazzle.com

Seniors who sell their structured settlements are left with a "short stack" with no syrup. They get raped for pennies on the dollar. 

Stacking Benjamins also misrepresented that the structured settlement purchasing industry is heavily regulated. While seniors ARE protected by insurance sales practice regulation of licensed insurance agents solicit or engage them when annuities are established, there is no parallel regulation of sales practices in the structured settlements secondary market for seniors or anyone else. The time frame when the article was published was smack in the middle of unprecedented financial rape and pillage that led to an award winning news story in the Washington Post that in turn has led to multiple lawsuits.

If that isn't bad enough, other seniors have lost or had a hold put on retirement money they had invested in structured settlement derivatives in tertiary market that were originated from the same lawsuits over the subject matter reported in the Washington Post and elsewhere that were marketed to these seniors using the scam label "secondary market annuities"

The Stacking Benjamins Show, "live, from Joe's mom's half-finished basement....listen to a parade of financial headlines, personal finance experts, creatives, and people with stories that inspire" its hosts. Every Monday, Wednesday, and Friday, hosts Joe Saul-Sehy & OG meet at the card table and bring you guests, trivia, your letters about saving, investing, and risk management, and much more. Academy of Podcast winner for "best business podcast of the year," 2017 Plutus award winner for "best personal finance podcast," and Kiplinger magazine's only recommended personal finance podcast. 

 

 

Posted at 10:10 PM in Albany New York Structured Settlements, Bowling Green Kentucky Structured Settlements, Bridgeport Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Chicago Illinois Structured Settlements, Detroit Michigan Structured Settlements, Hartford CT Structured Settlements, Los Angeles CA Structured Settlements, Louisville Kentucky Structured Settlements, Maryland Structured Settlements, Missouri Structured Settlements, NC Structured Settlements, New Jersey Structured Settlements, New Orleans Louisiana Structured Settlements, New York Structured Settlements, Newburgh Structured Settlements, NH structured settlements, NJ Structured Settlements, North Carolina Structured Settlements, NYC Structured Settlements, Oklahoma Structured Settlements, Palm Beach Structured Settlements, Philadelphia PA Structured Settlements, Rhode Island Structured Settlements, Rochester Structured Settlements, Santa Monica Structured Settlements, Sarasota Structured Settlements, Settlements in Queens County New York, South Carolina Structured Settlements, St. Louis Structured Settlements, Structured Settlement Factoring News, Structured Settlement Watchdog®, Structured Settlements in Fresno County, Structured Settlements in Georgia, Structured Settlements in Ithaca New York area, Structured Settlements in Kentucky, Structured Settlements in Louisiana, Structured Settlements in Miami Florida area, Structured Settlements in Michigan, Structured Settlements in Nassau County, NY, Syracuse Structured Settlements, Tulsa Structured Settlements, TX structured settlements, VA Structured Settlements, Washington Structured Settlements, West Virginia Structured Settlements, White Plains Structured Settlements, WV Structured Settlements |

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Guide to Structured Settlements 2024

  • What is a Structured Settlement? What You Need to Know
    Structured settlements and what you need to know about them including a helpful introductory video featuring A.M. Best Client Recommended Structured Settlement Expert and Registered Settlement Planner John Darer of 4structures.com LLC
  • How Do Structured Settlements Work? How Structured Settlements Work
    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • Top Structured Settlement Annuity Companies 2024
    Which life insurance companies issue structured settlement annuities in 2024? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated June 14, 2024
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements 2024
    Ways You Can Structure Your Settlement Payments in 2024. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Attorney Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team in 2024.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated May 20, 2024.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
  • Structured Settlements and Longevity Risk| What Are the Odds?
    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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Why Take a Structured Settlement?

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