Planning Your Own Funeral
I have previously written about writing your own obituary as a principle of beginning with the end in mind. The concept being, that when we take the time to think deeply about what we want other people to say about the life we lived once we are gone, we think intentionally about how we want to live and what we genuinely want to achieve. You do this without the limitations of mediocre tasks and routines that crowd your calendar and fill up your excuse list of why you can’t start today.
This approach may feel a bit morbid at first but this is the best approach to lay down our limiting beliefs, daily routines, time-consuming choruses and habits, and especially our excuses. Only then can we clearly envision what our lifetime dreams are. Only when we take the time to look past today’s demands on our time and outline life’s true dreams, can we set into place a plan of action to accomplish that dream by living out our plan broken into daily baby steps.
Indirectly you are:
- Considering what is truly of value to you.
- Setting life goals.
- Making them concrete by writing them down.
This approach allows you to more clearly consider what your lifetime priorities are. Congratulations, you just tricked yourself out of believing your own list of excuses and limiting beliefs and engaged in a habit that billionaires practice regularly.
Today’s article builds off of that context. Once you have a concrete plan for your life, the next logical step it is to consider a plan for your end of life details. And to do that who better than Camille Johnson of Bereaver. Take it away, Camille!
How Planning Your Own Funeral is Part of Financial Independence
At first glance, planning your own funeral may feel morbid and more than a little scary. However, it could very well be one of the best decisions you will ever make, especially when you’re on FIRE—that is to say, when you espouse the ‘Financial Independence, Retire Early’ principle. Here’s how making your end-of-life arrangements is an important part of your financial journey.
Iron Out the Details
Contrary to how they’re often approached, a funeral can actually be a celebration of a person’s life. As the BBC explains, it’s an ideal time to reflect on a life well-lived. Naturally, you will want yours to celebrate what is hopefully a life well-lived filled with love and comfort. Planning your own funeral, therefore, inevitably starts with making decisions on a variety of details, running the gamut from the handling of your mortal remains to who among your nearest and dearest should serve as pallbearers.
It’s more than wise, therefore, to work with a checklist and ensure that you cover all bases. Equally as important is documenting these wishes and making them known to your loved ones to guarantee that there is no ambiguity or confusion. Not only will such measures enable them to carry out your final wishes, but it can also be perceived as a final loving act that removes the great trouble of guesswork.
Cover the Financials
With your wishes known and properly documented and communicated, you will likely also want to relieve your loved ones of the inevitable financial burden of a funeral. As GoBankingRates explains, dying is a costly undertaking, with the average cost for end-of-life essentials coming in at $11,618. That expense can be handled in several ways, such as savings or through life insurance.
One option you can also consider is burial insurance. As the name suggests, it’s a type of coverage that can be used to pay your funeral arrangements. However, the benefits don’t end there. In fact, depending on your policy, it may even take care of other debts that you leave behind, such as personal loans and medical bills. When considering this type of insurance, it’s important to factor these costs along with the arrangements you had in mind to determine the amount of coverage you will need.
This is especially useful for those who don’t have significant financial responsibilities or dependents. But of course, not all final expense life insurance is created equal, so it’s a good idea to opt for providers that specialize in this type of coverage and have a good BBB rating like Lincoln Heritage insurance. With careful research and some number crunching, you can ease your mind and alleviate future expenses for your loved ones, which is a huge step in your financial journey.
Live Life to the Fullest
And finally, don’t forget to live your best life, which is arguably an important part of planning your own funeral. In fact, you may even find yourself in a better position to plan for such an eventuality when you are living a life that you’re proud of and satisfied with. Being financially independent enough to retire early (or at least, cut down on work) gives you more license to do exactly this—not to mention, more opportunities to pursue the things you love that make life worth living.
Funeral planning is something you shouldn’t miss in your quest for financial independence and security. Make sure you establish a plan for your final transition. By simply taking these measures to heart, you could find yourself a step closer to realizing your FIRE goals.
Keep the FIRE burning my friends.
By Camille Johnson of Bereaver. After my husband died three years ago, I realized I had no idea what he wanted for his funeral. We had a lovely ceremony, but I couldn’t help but wonder if it was what he would have wanted. So, a year or so after his death, I sat down to plan my own funeral. Now, it’s all in writing and I’ve taken steps to make sure the costs of my funeral and burial will be covered so my family won’t be burdened. Most people I talk to haven’t taken steps to plan for their funeral. When I bring it up, they usually think it’s a good idea; they just don’t know how to get started.
