Are You Taking the Right Approach to Funeral Planning?


RETHINKING FUNERAL PLANNING – Take the same approach you take to planning for retirement.

Most of us are accustomed to thinking about retirement planning. Even if retirement is years away, we understand the need to have a firm plan to get to where we want to be and retire comfortably. A good retirement plan includes our goals and, most importantly, how we plan to pay for what we want. If it looks like we won’t have enough money to cover what we want, then we adjust the plan. It’s an ongoing process, and we make adjustments as things change.

However, we often stray from this tried and true planning method when it comes to funeral planning. We may create a detailed plan for how our body should be taken care of, what our funeral or memorial service will look like, and other end-of-life concerns. But often, one key element is missing—a strategy for how we will pay for it. Even when we do include the financial element, we create the plan and call it done. We stick it in a folder or drawer and stop thinking about it.

It’s easy to see why there is such a disconnect between retirement and funeral planning. We tackle retirement planning with a sense of anticipation. We’re looking forward to putting away our lunch pail and pulling out the beach chair or golf clubs. For funeral arrangements, not so much – funeral planning is not something most of us want to consider. That’s understandable, but unfortunately, we do need to face up to it.

Did you know that Funeralwise has a network of expert advisors who can help you create or refine your funeral plan and help you establish a strategy to pay for it? Visit to learn more about the Funeralwise Protection Plan.

The Cost of A Funeral

Today’s traditional funeral with burial averages $8-10,000 and rising. That is no small sum of money and it doesn’t even include cemetery costs. Enough to put your loved ones at severe financial risk if there’s no way to pay for it.

There are many good tools to help ensure that you have your wishes documented along with resources set aside to cover them. Before looking at tools, however, make sure you are going into the process of funeral planning with the right mindset. In other words, change the way you look at funeral planning.

  • Instead of looking at funeral planning as a one-time thing, consider it an ongoing process, just like retirement planning.
  • Remember that your funeral plan is not complete until you include information on how you plan to pay for it. That doesn’t mean you should not start planning if you don’t have a financial plan. You should get started and, at the same time work toward having funds set aside to pay for it.
  • Consider a variety of funeral planning financing options before you make a selection.
  • Remember that the best funeral plans are flexible and allow you to make changes as your needs change.
  • Don’t hesitate to get professional help if you are struggling with creating a plan.

The most valuable advice anyone can give you about creating a funeral plan and developing a way to pay for it is to keep your overall goals in mind. For most people, making a plan and keeping it up today is about getting the peace of mind that comes with knowing that when the time comes, your loved ones will know what you want and have the means to pay for it.

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