When should you start thinking about your own funeral? 1

thinking about your own funeral

Although there is no prescribed age at which you should begin thinking about your own funeral, there’s a number of reasons you shouldn’t leave it too late. Here we take a look at why it’s best to take a more practical approach and to start contemplating how you would like your own funeral to be at a much younger age.

 thinking about your own funeral

You’re never too young…

Ultimately, you’re never too young to start thinking about your own funeral. Though it may sound slightly macabre to talk about funeral arrangements before a funeral becomes a likely proposition, there are a number of advantages to beginning to contemplate what you would want from a memorial service and how you’re going to finance it. Often, planning ahead can leave you in a better financial position, make you feel more secure and help to ensure your funeral is exactly how you would like it to be.

 

Talking about death

One of the key advantages of beginning to think and talk about your funeral arrangements at a younger age is that it encourages us to talk about death and dying. In a number of ways, contemporary society is incredibly uncomfortable with death and has managed to sideline and hide it from view. We use euphemisms instead of referring to death directly, avoid discussions surrounding the topic, and try to push it from our minds as much as possible. Rather than accepting it as a part of life and treating it as such, death has become somewhat of a taboo subject. This can be both an unhealthy and unhelpful approach to take, so it’s important to start talking more openly at a younger age about death, dying and funerals.

 

Funeral Plan

There’s also a more practical reason for starting to think about your own funeral at an earlier stage in your life. If you begin by looking at the Beyond Open Plan, you’ll discover that such a plan freezes the price of a funeral at today’s rates. With the cost of funeral services expected to rise at an incredible rate over the next few years, this could save you an enormous amount of money in the long run. Not only does it guarantee a cheaper funeral, it gives you complete control over the arrangements, ensuring everything’s exactly as you want it.

 

It can be a comfort to your family

Organising a funeral is difficult, especially if you’re grieving. You want to make sure that every detail is as your loved one would have wanted it, from the music to the dress code. If you haven’t recorded your wishes anywhere, this places an added burden onto your family.

 

It only gets harder

Finally, it’s also important to think about what happens if you leave your funeral plans to the last minute. For some people, making their own funeral arrangements later in life doesn’t really pose a problem. For others, it can be extremely difficult. As we get older, when death becomes a more realistic proposition and we’re confronted with our own mortality, it can be a challenge to talk about these important issues. Rather than discussing them with family members or friends, many people avoid their fear of death by sidestepping the subject, leaving them unprepared at the end of their lives. By starting to talk about death at a younger age, we can ensure this isn’t the case.

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1 Comment

  1. Mostly, some teenager would never think about this situation or question since they think they are too young about this idea. This article can give them an idea, which is also a good eye-opener on this topic.

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How to Save for Retirement 0

save for retirement

There are a number of different ways to save for retirement and which option is best for you will largely depend on personal circumstance. However, most experts suggest a combination of saving techniques as the most sensible approach to take.

 

While straightforward savings accounts give you easier access to your funds in case of an emergency, pensions and investments can result in greater returns. It’s also important to think about the ways you can mitigate against rising costs and larger expenditures as you get older. Committing to a funeral plan is a great example of one way you can avoid paying out large amounts once you hit retirement. With this in mind we take a look at a few of the key ways you can save for retirement.

save for retirement

Straightforward savings

The simplest, though perhaps not always the best, way of saving for retirement is using a traditional savings account and ensuring you put a set amount of money away each month. There are a number of savings accounts to choose from, including ISAs, instant access ISAs, notice accounts and National Savings accounts, so do your research and work out what type of account is best for you. Make sure you think about how easily you want to be able to access your savings, how much interest you want to be earning and whether there are any additional features you require before signing up.

 

Investment

Though there’s always a little bit of risk involved in investing your savings, it can result in much larger returns on your money. If you have experience of the financial markets and feel comfortable making investment decisions on your own, there’s no need to look for outside help. However, if you feel you could benefit from some guidance, it may be best to talk to investment specialists. Though they will either charge a fee or take a percentage of your returns, it is probably a more secure way of investing your hard-earned cash.

 

Pensions

Pensions are an important mechanism for ensuring you have enough money to last you during retirement. Though everyone has a small state pension, most people pay into a private scheme that’s either operated by their employer or a private company. It’s worth noting that you have no obligation to pay into your employer’s pension scheme, and sometimes it is worth keeping your options open. There’s a wide range of pension schemes to choose between, so it’s worth taking the time and effort to explore your options before beginning your payments. Look for an established provider with an excellent reputation to ensure your money isn’t mishandled in any way.

 

Funeral Plan

Finally, it’s a good idea to look at ways you can minimise expenditure later in life to ensure your savings go further. One of the key ways of doing this is by looking into funeral plans. Though the benefits of such schemes vary depending on the company you go with, plans like the Beyond Open Plan tie the cost of your funeral to current price levels. This can mean enormous savings when you consider the fact that funeral costs are expected to rise to an astonishing £10,203 within the next 12 years, while the average funeral comes in at just £3,800 now. By ensuring you’re prepared and taking action now, you could make your savings stretch a lot further.

How to Get the Most Out of Your Retirement 0

retirement

Whether you’re close to retirement age or not, the idea of life without work is an incredibly appealing prospect. However, if you want to get the most out of your retirement, it’s vital that you begin to think about what you want to take from it and how you can prepare for it.

 

Financially, there are a huge number of considerations to make, including savings, investments, pensions, funeral plans and wills, but you also need to think about how you can maximise your time and what kind of a life you want to live once you quit your job for good. Here we take a look at a few different ways you can get the most from your retirement.

 retirement

 

What do you want from retirement?

One of the key ways of ensuring you get what you want out of your retirement is by taking the time to consider how you want to spend the time and what you want to do with it. If you don’t know what you want from life after work, how are you going to ensure you achieve your goals? Everyone desires something different from retirement – be it a peaceful few years at home enjoying your hobbies, travelling the world or ticking off items on your bucket list – so it makes sense that people will need to prepare in different ways too.

 

Plan ahead

Once you understand exactly what you want from retirement, you can begin to work out how to achieve your aims. This will involve asking a number of important questions. How large will savings need to be? How many more years do you expect to work? How long is your retirement likely to be? Are there any other important financial considerations, such as rent, a mortgage, health bills or family commitments, to consider? Once you’ve answered such questions, you’ll be in a better position to budget for a financially secure future that’s able to deliver those things you really desire.

 

Reduce expenditure

One important but often forgotten means of ensuring a happy retirement is minimising the cost of those expenditures associated with old age. While a lot of people don’t consider a funeral plan until they are well into retirement, there’s enormous savings to be made if you begin thinking about these things now. With funeral costs rising at a far higher rate than inflation, a plan like the Beyond Open Plan could drastically reduce the amount you pay out for your funeral. By thinking ahead and taking out a plan like this now, you freeze the cost of your funeral at today’s prices and could avoid paying three times as much in 10 to 15 years’ time.

 

Prioritise

Finally, getting the most out of your retirement necessitates a certain amount of prioritisation. Realistically, you’re not going to be able to do absolutely everything you want with your retirement, so it’s important that you begin to think about what’s really vital to your plans and what you can afford to drop. Remember that life is full of surprises, so you don’t want to overstretch your savings and potentially leave yourself open to financial uncertainty. It’s always a good idea to maintain some savings as security should things not turn out quite as you had planned.