Many people know that the constant flow of income that flowing into your pocket every month is much better than one lump sum every year. By having the constant flow of income, you could think about the money usage carefully and planning the next one the very same way.
Take a look at your salary. It’s much easier to divide the usage of it isn’t it? That’s because you’ll get it every month in the same amount without thinking that you could get less of it.
Besides your salary, there are other things that you could get on a monthly basis that could give you a constant income, such as a long-term insurance and lottery. Yes, you read it right. Lottery is one of the things that you could get on a monthly basis if you really win one. The government already made it clear that the lottery winner will get the structured settlement of the money that they win. It’s the same with your long-term insurance that you’ll receive every month after you retired. The question is, why would the government do that?
Well, let’s clear our head first before we dig deeper. The government doesn’t want to take all of your money. It’s true that they will get the share of themselves. But their main motive is to protect you from your own money. Do you ever see the people who already win the lottery and get the money in one lump sum than the structured settlement? They spend their money like water. They think because they have lots of money, they’re free to do whatever they want.
They’re not wrong, but they should think further than that. when you win a lottery, you’ll see that people who never know about you before will acted like your best friend, and the there are so many people that asks for your charity. As a good people with massive sums of cash, you’ll think that you could help all of them. What about the result? You’ll have less money than you have before the lottery winning in three days.
That’s why the government set up the structured settlement for you. They want to protect the money from you and from other people that use you. Having the structured settlement could also make your life easier. How come? Well, you simply have 30 days to think about where you should spend your next income. It’s also gives you a chance to tracking down your expenses and give a break for yourself to spend all of the money that you had.
The very first thing you should do after you get the money is hiring a consultant and a bookkeeper. They will help you planning your financial life in several years forward and then keep the record of what you’ve done.
You could also open some investment plans with your money to give a more secure feeling about your money and your future. Planning your life carefully and don’t let your money run like water out of your hand.