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Using An Annuity Lump Sum To Start A New Business

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Selling annuity payments can be beneficial for a variety of reasons: from paying off credit card debt to purchasing a new home or car, there are so many ways that this money can benefit you right now.

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Using An Annuity Lump Sum To Start A New Business

  1. 1. USING AN 0 ANNUITY LUMP SUM 9 TO HELP START A NEW BUSINESS
  2. 2. COST OF STARTING A BUSINESS Ewing l1arion KAUFFMAN In 2009. the Kauffmann Foundation Foundation estimated that the average start-up cost was approximately $30.000. AVERAGE ST ART»UP COST Many (but not all) of the costs of starting a business are tax deductible. up to $5.000 get started each month (but more D IN THE HQST W3“; 0; employer businesses shut down than Do| Nc Bus| NEss, start up each month) ADDQOXIMATELV 543,000 NEW BUSINESSES
  3. 3. ‘I/3 SURVIVE AT LEAST: 10 VEARS 7 out ONO new employer firms survive at least 2 1 years. half at least 5 years. a third at SURVIVE AT LEAST: least 10 years and 5 YEARS a quarter stay in business 15 years 7 O or more. SUWIVE AT LEAST: 1 YEARS ofall small businesses are home~based
  4. 4. FINANCE INSURANCE EDUCATTON 8- HEALTH AGRICULTURE AND REAL ESTATE The hardest industries to start a new business In are finance insurance and real estate, education and health. and agriculture. Research shows that 58%. 56%. and 56% of new businesses in each respective industry failed after four years. LUMP SUM FACTS The average structured settlement payout is $324,000
  5. 5. AVERAGE ANNUAL HOUSEHOLD INCOMES: 80% 65% 42% 27% O IOZO30b050607OBO DERCENTI96I — Below $100,000 In Below $75,000 — Below $50,000 — Below $40000 65% of the people said that they would rather have a lump sum payment instead of structured payments. 8/10 (80%) have annual household incomes below $lO0.000. Nearly 2/3 (64%) have annual household incomes under $75,000. Almost V2 (42%) have annual household incomes below $50,000. including 1/4 (27%) who have household incomes below $40,000. I 92% ofclaimants who sold their structured settlements said that they were satisfied with their decision.
  6. 6. SOURCES: sba. govlbIogslhow-esdmate-cost-starting-buslnesyscratch forbes. com/ sites/ }asonnazarl2013/09/09116-supdslng-statistics-about-small-bushesses statistIcbraln. com/ starup-falure-by-Industry moneyeconomlcscom annuity-Insurers. org/ wp-content/ uploads/2013/10/2009-Survey. pdI einstehstructuredsettdernentscom/ stmctured-settlement-industry-stat! sticshtml nyuj| pp. org/ wp-contentlupIoadsI2012l11I]eremy-Babener-Strut! ured-SettIements~and-Single-Clalmane Qualified-Settlement-Funds-Regulaung-in-Accordance-with-Structured-Settlement-Hhstory. pdf

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