What would you do if you won the lottery?
Would you opt for a jackpot payout over a life time or in one lump sum? For those who want to take it all at once, there is a niche market that can help you convert the stream of payments to a lump sum today. Strategic Capital sheds light on this fascinating area of finance. Millions of people nationwide do it every week: Pick their 6 numbers and play the lottery.
“Most lottery winners opt for lump sum payments today because they like the control and the choices that the lump sum gives them.” explains David Meyerowitz, President of Strategic Capital.
David Meyerowitz is the President and the CEO of Strategic Capital, an expert in the secondary periodic payments market. His company has purchased over 1.3 billion dollars’ worth of payments.
“Strategic Capital helps people take control of their lives. We do this buying their future payments streams such as lottery winnings, structured settlement payments, Casino Winnings and any other future payments stream. Essentially, we are helping people deal with life’s changes“ explains David Meyerowitz, the President of Strategic Capital.
So this goes well beyond lottery winners – people who have been awarded a personal injury settlement with payments over time, also known as a structured settlement, can benefit from this type of program as well.
“People who want to cash out their structured settlement payments can come to company like ours who will buy all or part of their future structured settlement payment” says David Meyerowitz.
“When we recommend structured settlement for a client, that recommendation is based on the client’s needs at that time. However none of us, including the client, has a crystal ball, and sometime the client’s needs changes. Sometimes the client may need money for an emergency medical procedure or for an emergency financial situation and in that situation, purchasing a structured settlement may be the best option” says Fred Cunningham, attorney with the Slawson, Cunningham, Whalen & Smith law firm.
The motivations for selling future payments such as structured settlements vary. Some want to pay for college and the monthly payments are not enough. Others want to buy a home outright or pay off a mortgage. And there are other life emergencies as well, such as unexpected additional medical expenses, saving their homes from foreclosure, or digging out of debt.
“Walter, one of our clients was diagnosed with terminal cancer and given few months to live. His only chance was to have an expensive operation. His only way to raise the money was to sell his structured settlement so his insurance company recommended Strategic Capital. We ended up buying his structured settlement payments. Eighteen months after we purchased his structured settlement payments, he got out of his wheelchair, and started walking again! He now has the opportunity to extend his life and live a good and happy life. He would not have this opportunity without selling his payments.“ David Meyerowitz explains.
Financial advisors, insurance brokers, and lawyers all utilize this type of service.
“Other organizations see us as a resource and use our services extensively. We are referred clients by insurance companies, structured settlement brokers, by lawyers, accountants and a number of other professional advisors. As one of our referrers has said to us and about us, we are simply the best at what we do” says David Meyerowitz.
But buyer beware, in this someone unregulated niche market, there are some aggressive companies. It is imperative to deal with a fair, honest and respectable company that puts integrity before profit.
“Buyer really has to beware! In a segment of the industry that is largely un regulated right now and so the person who wants to sell their structured settlement has to be very aware of what they are doing and they have to deal with a company that has a reputation of being ethical and fair” explains Mr. Cunningham, the attorney with the Slawson, Cunningham, Whalen & Smith firm.
“Strategic Capital is different from our competitors in the way we approach our clients, we always offer them a fair price, we treat them with respect, we strive to the highest standards, and we lead the way with integrity and respectability” says Mr. Meyerowitz.