FACING THE REALITY OF END OF LIFE PLANNING – Planning for one’s end of life expenses is, certainly, depressing and stressful in and of itself. Trying to plan for what happens after death is even more stressful when funds are limited and focused on providing the living with necessities.
Arranging these discussions as early as possible can take some of the stress away from having to do so when the situation requires it. It cannot be assumed loved ones will automatically know one’s wishes or how final expenses are to be paid for. Preparation is key and having certain steps in place will ease the burden on surviving family members.
Completing steps such as health care directives, including a living will which will expressly detail your wishes and completing a durable power of attorney for health care, which will appoint a trusted someone to determine health care in the case of incapacitation, will lessen the stress and alleviate the emotional toll on loved ones. ………
Number seven of this article went on further into what is needed to make sure your last wishes are carried out but didn’t really address the financial burden on the loved ones who are left with the chore of following the directives set out in a will.
If you come and live in Thailand you can separate assets in Thailand from assets held abroad by having two wills. A will in Thailand can be drawn up by yourself and is cheap to do. I have a membership posting regarding how to do this in our RetireCheap.TV member site and even the template of a simple last testament and will.
Did you know that the average cost of a traditional funeral in the USA, including embalming and a metal casket, is almost $6,600, according to the most recent data from the National Funeral Directors Association? In Thailand you can have a Buddhist ceremony which includes cremation. In Thailand you can spend 100,000 Baht if you want to have a fancy Funeral, but in reality you can have a decent funeral for less than 20,000 Baht (about $600). Some people spend a little and just let off a few rockets at the village temple and some put up a big feast and invite the whole village to attend the funeral which includes a “mor lum” concert and lots of Buddhist ceremonies. So even when we pass, if we are living in Thailand, we don’t pass on a financial burden to the ones we leave behind.
In closing. When it comes to retirement, pre-retirees have many decisions to make and a new world of opportunity to consider. While many choose to stop working altogether, there are many others who continue to work part-time to maintain a sense of purpose and supplemental income for their golden years. Preparation is paramount to preventing stress when planning for retirement and especially when it’s finally time to enjoy life.
There is a new world to consider. And for me continuing to work to maintain a sense of purpose is a possibility. Although I could, and do, find other ways to maintain that sense of purpose and live in Thailand. But I really feel that after a lifetime of work there should be some time left to sit back and just enjoy the aesthetics of the moment. We earned and deserve it. This is why over the years I have devoted my time and efforts to help those looking at how to get “More Life (Retirement) for Less Money” by offering a membership to our little Retire Cheap Asia family where all the necessary details are mapped out for the purpose of smoothing out the transition of moving to a new culture. A place where members are supportive of each other both before making the move and after arriving in their new home.
I hope this document has been found to be useful and enlightening information for those thinking or worrying about their retirement future. No matter what happens in your life you can never plan for all the possible scenarios. When the unexpected happens remember,
“There’s Always an Option”!
JC
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The original document was from the article titled “The Top 7 Most Stressful Financial Concerns for Pre-Retirees” from the website address https://www.bestliferates.org/seniors/most-stressful-financial-concerns/.
