Pension Purchasing Review

Pension Purchasing ReviewPension Purchasing says they’re better than an installment loan, and we’re going to do our best to figure out if this is the case, or if it’s even a possibility.

Installment loans are loans you take out and when you pay them back they’re all paid off. Your pension is money that is supposed to support you in your retirement and make it so you can sustain yourself and pay your expenses without working. When you give up your pension you cut off your income, when you take out an installment loan you simply take on a new payment. It’s strange that they would claim that one is better than the other, since it’s not apples to apples.

Pension Purchasing Review – How Does It Work?

Pension Purchasing will give you money now in exchange for pension payments that you’ll receive at a later date. It’s similar to the companies that buy annuities and give a smaller amount now for a larger amount over the coming years. It’s a long-term investment strategy that allows these companies to experience high returns for the money they’ve invested. The money they make is made at the time that you decide to sell part of your pension, it is structured into the deal so that you are getting far less now than what your pension is worth over the long term.

Bad Credit is No Problem
Of course your credit score doesn’t matter because you’re not applying for a loan. You have something they want and they don’t care what your credit looks like because it doesn’t make a difference to whether or not they get your pension.

They also say that you can use the money for any purpose that you see fit, and this makes sense because it’s your money, and you’d be using the pension for any purpose you see fit, so this is not really a talking point but just reassures you that there are no stipulations on how you use the money.

They say that you don’t need to have life insurance in place in order to use their service, which may be a requirement at other pension purchasing businesses.

They say they give free quotes with no obligation, but really they’d have to do that because no one is going to want to jump into a deal like this without seeing how all the numbers break down, and see just how much of their pension they’re trading for the money they’re getting now.

Can You Really Get $25,000?
They say that you can get up to $25k in just 3 days by using their service. This of course will depend on how big your pension is, but it’s a whopping amount that is sure to get just about anyone interested in learning more about their service. This large amount of money sounds like it would solve just about any financial crisis, but consider how much of your pension you’re going to have to give away in order to secure these sort of funds.

For a large dollar amount like this they’re probably going to take a huge chunk of your pension and collect on it for years after you’ve already spent through the money. That of course is their business model, and the only reason someone would give you money now for money later is if they’re getting more than they gave you. The question becomes how bad do you need the money now in order to give up the money later, and what will you do to make up for the shortage of money later?

Our Recommendation
Pension Purchasing may work in some dire situations, but it sounds pretty dreadful for the most part. You are selling off your future cash flow to pay for immediate expenses and you won’t be able to get that cash flow back once the immediate problems go away. You worked so hard for that pension and it’s designed to take care of you for years and years. If you get rid of it what will you do later in the years to come. It seems rather shortsighted, and there would have to be extenuating circumstances to force someone into this sort of decision.

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