Pre-purchasing, saving money and how organisation pays
Friday, 11 May 2018
Some people are just naturally organised. From their savings to their shopping, everything is carefully considered, neatly arranged and perfectly scheduled. We look at their lives with envy, often mixed with a touch of concern that they might be taking life a bit too seriously. We quietly wonder whether they iron their underwear.
So when these people talk about having pre-purchased funeral plots, it might strike us as slightly grim and possibly a bit over the top. Most of us can see the sense in health insurance and life insurance – preparing for the unknown – but seeing as we are all aware that we are going to die one day, is there really any sense in getting ready for it so far ahead of time?
As a matter of fact, yes.
If we put the death conversation aside for a moment and just look at saving dollars, the first surprise many people get comes with the realisation of just how quickly cemetery sites appreciate in value. Let’s start with a historically referenced example. If you thought about buying a lawn burial plot at Enfield Memorial Park in 2008 but then put it off until 2018, appreciation on that same plot would have cost you $3,765. Had your purchased back in 2008, that sort of appreciation would have been, quite literally, better than money in the bank.
What could you do with a saving of $3,765? Or what might your children do with that money? When we come to realise how significant the savings are that can be made, pre-purchasing starts to make a lot of sense. It means that when the inevitable finally happens, a key expense has already been met, rather than that cost, at present day prices, having to come out of your estate. After all, wouldn’t your partner or your children be better off with that money?
If you’re not normally a stringently organised type of person, pre-purchasing offers a very healthy financial reward for your efforts, and that’s all the incentive many people need. It’s really just a case of considering how you’d rather be using the money that you stand to save. And there’s absolutely no need to start ironing your underwear.
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