Have you seen the movie The Bucket List with Jack Nicholson and Morgan Freeman? If not, you should! It’s a comedy about two guys who make a list of things they want to do before they “kick the bucket.” It is actually quite funny and takes a light hearted look at death.
In an article on MainStreet.com, The Bucket List is described in the following way:
In the film, the two seniors—the independently wealthy Nicholson and the not-so-wealthy mechanic Freeman—embark on Nicholson’s private jet and travel around the world, making pit stops in India, China, Tanzania, and other far-flung destinations. They stroll around the Taj Mahal, ride across the Great Wall on motorcycles, go on safari in the Serengeti and ultimately rack up a bill of $105,730 according to an estimate by the Los Angeles Times.
However, not all of us have that much money to spend, but we should all have our own personal bucket list for what we want to accomplish before we die.
Mine would include something like the following:
• Go skydiving in Hawaii
• Travel to Australia, New Zealand, Fiji
• Backpack through Europe
• Work on Habitat for Humanity
• The list goes on and on…
However, although these are more light-hearted topics and fun, there are some more serious issues that people also need to consider before they die.
As my parents get older, different topics arise in the house that had never been discussed before. It is scary to think of my parents getting older, but the truth is that it is still comforting to know that they want to be prepared.
There are obviously many things that need to be dealt with as you get older and further more before you die. Nobody wants to think about death, but when it happens, it is definitely better for everyone close to you that you were well prepared. It makes the decisions that they have to make much easier.
Some documents and things that you should do before it is too late…
Or in other words, a more serious bucket list:
• Last Will and Testament – This one is a MUST HAVE. You do not want to die without a will. In your will you state where you want all of your assets (money, home, etc.) to go. In the case that you have children, it also provides them with a legal guardian so that you do not have to worry about who they will be with when you are gone. Check out this other Geezeo article about the Importance of Your Will.
• Advanced Health Care Directive – This document states what you want to happen if you have a terminal illness. It is hard for your loved ones to make the decisions for you, so in this document you state what you want to happen if this is the case. Such as if you want to be on medication, life support, or a feeding tube to prolong your life.
• General Power of Attorney – This document gives someone power to handle all of your financial affairs if you are unable to. You want to make sure your debt is paid off and everything is handled in case you are unable to do so.
There are many other documents that could be added to this list, it is your choice which you think you need. Make sure that after these documents are signed and dealt with that you put them in a fireproof safe or safety deposit box in case anything unexpected happens.
Also, make sure to include some fun things in your own bucket list as well! Not all of it has to be documents and legal things to cover; try traveling the world, flying a plane, or bungee jumping out for size!!
Photo: Scott Liddell
Related Topics:
Retiree Health Coverage on the Decline
How to Plan Spending in Retirement
How To: Save for Specific Goals
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