By: Briana Echols
Yes, I’m back for the 2nd installment of Finance Friday and I know things got a little personal with Friends, Family and Finance, but today I’m going to take it one step further and throw in another sticky topic… DEATH! Now you may be wondering, “What in the world does death have to do with my finances???” and in short, the answer is, much more than you would ever imagine.
I will admit, it’s much more awkward dealing with finances and the living, but the dead can stick you too and when they do, the effects are usually much more devastating. Now I’m not talking about the $50 you lent someone and they died, oh no. If someone close to you passes and they don’t have life insurance, TRUST ME they’ve stuck you, and you’re going to wish it was only for $50.
All of this may sound morbid, but it’s too real. How many of you have been scrolling down your timelines and you see the Go Fund Me link beside a picture of your friend’s loved one with pleas for help so they can get that person in the ground before the week is out? And you can’t blame the family; not a lot of people have a cool $5,000-$7,500 just laying around to bury in the ground for one day of mourning and reminiscing. So what do they do? Rely on the community and churches to make it happen. Oh and once they do get the body in the ground, that doesn’t account for the fact that they have to now take care of any last minute obligations you might have left behind and/or raise your kids.
PEOPLE, PLEASE GET LIFE INSURANCE!
I know, I know. You’re paying for something you know you’ll never get to use yourself, but believe me you don’t want to be on your death bed stressed about whether or not your children will have a roof over their head for the rest of their lives. It couldn’t be a more simple decision to make and honestly it’s not an extremely costly one if you’re in fair health.
As a previous life insurance agent, there was nothing more depressing than getting a call from someone who just found out their health is worse than they imagined and having to tell them at this point there is not much you can do to help, that won’t cost them an arm and a leg. Don’t wait to make the move until it’s too late. Nobody is saying that you have to get enough insurance to make anybody a millionaire when you die (I mean, I’m not saying that would be a bad thing either), but I am saying that you and your family could benefit from the peace of mind knowing that if, God forbid, you were to meet an untimely death, money would be the LAST thing you’d have to worry about. Unfortunately, I have had to bury both of my parents and it was absolutely the most difficult thing I’ve ever had to do and I cannot fathom how I would have gotten through that situation if I knew there wasn’t even money to cover the funeral cost.
Let’s break the cycle! Let’s stop leaving a trail of debt for generations to come. Instead, let’s step up and put plans in place to set up our future generations, or at minimum keep them from being knocked back because of our own negligence.
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