How to Spend a Lump Sum Settlement

If you have been injured on the job and have been offered the option for a lump sum settlement in your case your next step might be to figure out what’s next. Consulting with a financial advisor is always a good idea for your long term goals and financial stability. But don’t forget to think about the immediate future. What can you do with that money now?

futureWhen suffering a work injury it affects more that your injury, often times it can turn the world you know upside down. The settlement can help you with starting over and covering your living costs. Here are a few ideas where you can take advantage of a lump sum settlement for a work injury:

  1. Pay Medical Bills
  2. Living Expenses
  3. Go Back to School
  4. Learn a New Trade
  5. Start a Business

For many a work injury can life altering, but not always. It is important that you have proper legal representation to help you understand what goes into a lump sum settlement.