We all do our best to save and set up financial safety nets in various ways but there sometimes comes a time when we need a cash injection, and the money is not sitting there in your bank account. However, you’ve been very prudent and hard-working over the years and have so many assets tied up in various ways. It is the case though that there are different ways of releasing assets that are not immediately available to you.
1. Equity Release From Your Property
If you’ve been paying your mortgage for many years, you are aware of how much cash value you have in the bricks and mortar that you are living in. It’s very doable in most cases to be able to take some cash out to solve a tricky financial period and it’s really easy to check how much you can take out using a quick online tool and see if it works for you.
2. Cash Out On Life Insurance
You can cash out on your life insurance early and this works in the following way: you are selling on the policy to a 3rd party as the policy is an investment and will have a face value on it depending on how much has been paid for and how it has been performing. The value you will receive will be less than the payout value and less than the face value of the investment but it is one of the ways of utilizing this asset
3. Deciding When To Sell Stocks & Shares
This is always a tricky decision if you have been investing in a portfolio of shares when to cash in and sell. If you have invested in large, safe traditional companies you are probably in a more safe situation and can cash in with relative confidence, but with more risky investments it’s a real judgment call. Always check with your broker or financial advisor before making the decision.
4. Release Money From Your Pensions
If you have a private pension, then you can take money out when you are 55 and that age limit is appealing to everyone. It’s important to be aware of how this will affect your plans for later because if you take more now, there will be less available for when you do fully retire.
5. Sell Antiques & Other Physical Assets
If you have any antiques or other physical assets, it’s always worth selling them, especially if they are not items in actual use in your daily life. There are so many things that can be sold to make money so think this through.
If you would like to learn more about cash value life insurance, you can check out Harbor Life Settlements.
