Financial planning – Being late for your own party

financial planning

Pensions

Julie Hutchison

1st March 2013 at 3:55pm

Turning up at the wrong funeral

Turning up at the wrong funeral can have unexpected consequences.

In a book I read recently, it meant the equivalent of a rollover lottery win for the character who was in the wrong place at the right time. In a random yet calculated act, the other main character (deceased) left clear instructions that all those attending his funeral should sign a register, and his estate be divided among them. The windfall of £17m did not necessarily bring happiness, however, and so the rest of the story unfolds.

Lifetime goals

The thought of the after-funeral party may not make comfortable reading. I understand that it might make you want to skip on to another blog, and read about something else entirely. But if you’re the type of person who cares enough about getting that after-party right for those you leave behind, you might just be the kind of person who also cares about sorting out your lifetime goals too, and how to plan to make them happen.

In 2013 a 65 year old can expect to live for another 23 years.

With life expectancy extending significantly, how we plan for lifetime goals (and after-parties) is undergoing radical change and requires more careful consideration. Just think – a 65 year old in 1946 could expect to live another 13 years; in 2013 a 65 year old can expect to live for another 23 years. And that’s just the average. Research on baby boomers points to a group of people who think of themselves as quite different to any generation preceding them.

Financial planning

So with more time to plan for, having the funds in place to support whatever you want to do becomes ever more important. Whether it’s sailing across the Atlantic or writing a novel, or just spending more time with your family, careful financial planning can make your goals a reality. Taking care of the planning means you can simply focus on enjoying the experience.

For information on saving, investing and retirement planning, visit our financial education website pages to learn how you could bring your lifetime goals within your grasp.

And as for your wake – might it even be fun to plan the best party you’ll ever be late for?

What do you think?

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