12 Jan

5 things to do despite feeling immortal


1. Life insurance according to your situation.


I sorted my automatic savings and my long term saving and felt very proud of myself. Felt on right track with my life. And right around Christmas, when life gets hopeful, recharging, our spirits are high, I got very sad news that a very young, juvenile relative of mine passed away. The news were shocking and at the same time got me thinking about life and how we should be prepared for the worst. The morbidity of the topic got reinforced by a video on YouTube about “how much your funeral would cost if you die”.

The whole package of bad news, discussions and new year’s resolutions got me thinking-  I live abroad and if something happens to me, it would cost my relatives their income for half a year to organise repatriation and cover all the costs. I started thinking how selfish and irresponsible is to not have life insurance. I will definitely shop around and sign for the one which makes most sense for my age, goals and budget. Might go for a term insurance with saving attached, but most important is that if anything happens to me, my relatives would not be in a bad financial place because of lack of preparation. One has to take in consideration his life situation- if there are kids, hard commitments, who is the bread winner.

The purpose of the saving element is not so much investment “per se”. In my calculations this is similar to what you would pay if getting a term insurance and having a piggy bank at the same time, not a lucrative investment plan. Just a responsible thing to do, because life happens… or more accurately it happens that life ends. Apparently life insurance has to be done while healthy, so one needs to grab the chance.


2. Clear book keeping which can be accessed by entrusted person


It is important to have all assets, savings, investments and dept information at a glance in an understandable manner. Ideally one would have a family lawyer responsible for delivering that information, but that is way beyond my current financial status, so one has to plan accordingly. Besides assets and dept, it is good to make a list of heirloom possessions and other belongings with value. It is good to go trough your things as if you are in  the position to inherit them and will evaluate them. 


3. Part with some of the possessions


When such a topic touches you, out of a sudden a Miu Miu bag looses its glamour. Don’t get me wrong, good quality is always worth. But sometimes we miss the forest for the tree, we miss life for the stuff. A good self reflection from time to time set us on the right pat and allows us to free ourselves from extra baggage!


4. Take those vitamins and move

There are many things which are out of our control, but prevention is our responsibility. There are hurricanes and fluds that can destroy a house, but it is a responsibility of the builder to make a good foundation, so the house has a chance to survive.  So we rather build a good foundation of our health


5. Live and Love :))) 


If it’s meant to be, it will simply be. Going through the previous steps is like setting things on autopilot, so you can truly enjoy actually being alive! 

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