top of page

Building Financial Security: The Advantages of Structured Settlements for Those Approaching Retirement

Happy Retiree who gets Structured Settlement Income Guaranteed
That Feeling When you BOOST Your Retirement Fund with a Structure!

Structured settlements offer a valuable way to manage personal injury settlements or lawsuit awards. Let’s explore why they can be an excellent opportunity for someone aged 55 to set up supplemental retirement income.

EXAMPLE: Mr. Injured Male received a $500,000 injury settlement. He used some cash up front for current medical bills and to pay off his mortgage ($100,000). His Attorney took 40% ($200,000). He reached out to Hathaway Settlements, and together they set up a plan to provide supplemental retirement income starting at age 65. He will now receive $2,042.07 monthly, starting at age 65, guaranteed for 20 years. With a Structure, he turns $200,000 into $490,097 over 20 years, guaranteed, TAX-FREE.

(Example: New York Life (A.M. Best Rated A++ 7/11/2024 - Rates are subject to change)

Benefits for a Middle-Aged Injury Claimant

1. Tax Advantages

Structured settlements for Injury Settlements provide tax benefits. The income received through periodic payments is tax-free, unlike investing a lump-sum payment, which the earnings are subject to taxes.

2. Retirement Planning

In the example above, if receiving a settlement payment later in life, you’re likely thinking about retirement. By setting up a structured settlement, you can align the payments to start at age 65. This can serve as supplemental income during retirement, complementing other sources like Social Security or pensions.

3. Delaying Social Security Benefits

Maximize your Social Security benefits by delaying receipt until age 67 or 70. With a structured settlement, you’ll have income during the gap years, allowing you to wait for higher Social Security benefits.

4. Stability and Predictability

Structured settlements provide stability. Payments are guaranteed, regardless of market fluctuations or economic downturns. This predictability can be reassuring for retirement planning.

What Is a Structured Settlement?

Instead of getting a single large settlement payment, the recipient receives future periodic payments spread out over a fixed number of weeks, months, or years. Here’s how it works:

  1. Customizable Payouts: Structured settlements allow customization. You can design the payment schedule to meet your specific needs.

  2. Initial Lump Sum: If you’re facing immediate financial challenges, you can structure the settlement to provide a large initial payment. This can help cover overdue bills, pay off a mortgage, or make essential purchases (like a new car).

  3. Supplemental Income: The subsequent smaller payments act as a substitute for lost income. For example, if you’ve been unemployed, these payments can help maintain financial stability.

  4. Extraordinary Expenses: Some settlements allow additional amounts for extraordinary expenses, such as college tuition.

  5. Increasing or Decreasing Payments: Structured settlements can be designed to increase or decrease over time, depending on your financial situation and expectations.

Structured Settlements: Where Do I Start?

To facilitate structured settlements, defendants must purchase annuities from highly rated, government approved Life Insurance Companies.

It is highly recommended to involve a Structured Settlement consultant during negotiations to ensure that all parties know you plan to include a Structure as part of your settlement.

Hathaway Settlements provides Structured Settlement services at no cost, and are happy to assist in the financial security of injury claimants.

Remember, always consult with legal and financial professionals to make informed decisions tailored to your specific circumstances. 🌟

For Structured Settlement Services: Contact Mike Hathaway 248-715-5250 or email


bottom of page