To be avoided – Highly Recommended Paying for your own Funeral

Last night on the Joe Duffy Highly Recommended RTE programme, we were told how one of their contributors had arranged and paid for her funeral up front so that it would save the stress and expense for her family at the time of her death.

The panel on the show acknowledged that the contributor was very noble in her intentions and based on the numbers, would save her family some money. €33000 invested now to pay for a funeral that would be expected to cost €12,000 in 30 years times.

But, is she really saving her family money? Assuming the same 30 years and same initial money up front, the €3,300 invested now at a fixed deposit rate of 6% annually, there would be a return of over €14,000 after the 30 years.

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One Response to To be avoided – Highly Recommended Paying for your own Funeral

  1. Anonymous November 28, 2007 at 09:46 #

    Her family should have been on the show seeing as they saved paying 12,000 in 30 years time by guilting their ma into paying for her own funeral. Bonanza!

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