Thursday, May 29, 2008

Preparing For The Future

I've taken the first big steps this past memorial day weekend with regard to estate planning. I've drawn up a will and durable power of attorney and went to the bank to get the documents appropriately notorized. Since I am young, I truly do not anticipate needing these documents any time soon. But given that this has been on my list for a long time, it is good to make sure that this is taken care of.

The next step is to get my own personal life insurance policy. I have some through work, but I want to be prepared and have that coverage even if I got laid off or something else happened. So, that process is now underway as well.

In the end, just taking the steps themselves is extremely empowering. I've faced the fact that I won't live forever and I am ok with that. It makes me really grateful for every day I have and also makes me appreciate all that I have accumulated.

2 comments:

Rachel said...

I really nee dto think about these things too. I have children but no will which I think is a bad thing. My only life insurance will pay off the mortgage and I do wonder whether I should consider having more money for the children. However, I would rather invest the money myself and hope that I get a better return.

Michael Musselman said...

It's good that you are taking care of this stuff while you are young. Most people don't think about wills and life insurance until after something bad happens.