Disclaimer: This post could possibly be a downer depending on your mental state or it can be very inspiring and enlightening.
It is believed that we all could eventually get the COVID-19 Coronavirus. Based on our health will depend on if we survive or succumb to the virus and ultimately pass away. This virus is spreading fast and could peak within the next month or so - the best thing that could happen is finding a way to slow it down.
Governments around the world have mandated "Social Distancing," however a better term is "Physical Distancing," as the best weapon against this virus. So, many of us have made attempts to stay at home; unless our jobs dictate we work. Since we have a lot of time on our hands I'd like to propose a question to each of you.
Q. If you contracted the virus and had days to live, would you leave a mess for your loved one to sort out or have you communicated your wishes and made it easy for them to handle your affairs?
I'd like to recommend a few steps you can take today to help make that process easier rather it happens or not; of course we all would prefer to be around a bit longer; even though we know - no one gets out of here alive.
1. Financial. If you do not have a significant other who have access and the rights to your funds, ensure you have a payable on death beneficiary named. If you have stocks, bonds, mutual funds, 401Ks, IRAs, etc - you should have named a beneficiary as well. Digital Assets is a bit more tricky but based on how you hold them determine your action. I won't get into all of that but you get the point - communicate this to your loved ones so they know.
2. Possessions. What will happen to your car, clothes, personal belongings? This can be complicated and sentimental. I encourage you communicate this with your family. Don't leave a mess for them to have to clean up and dispose of in your absences.
3. Will. This can help with the above and in some states even will's must go through Probate which means they will incur fees. If you don't have a will I encourage you to begin the process of doing one. It can be complicated because there is a lot you have to think about and it can overwhelm you. One thing to consider is finding a person or a couple of people you TRUST that you can leave everything to and allow them to ensure all of the above it worked out on your behalf. Yes this can be tricky and difficult but it might make the process easier. For that person(s) it can be a lot of work but
Hey Paul, wait a minute - that's a lot of work?! Yeah I know and here are a few tips:
1. Be Frugal. I've be practicing frugality for several years and it's made life really easy for me. Of course being single it's not as hard if you have dealing with a family; esp kids. However, find ways to reduce the clutter in your life. Many times we think we need a bunch of stuff but at the end of the day we really don't.
2. Let Go. Building on the tip above, learn to let go of things faster. Many times we hold onto things far longer than we need. Once you realize one day you will depart, it can become easier. The lighter your life the easier it can be.
3. Live. Many times we are frustrated by life only to regret many things on our death bed. Live in the moment. Forgetting the mistakes of the past and not fearing the mistakes of the future. Get comfortable with where you are and strive to achieve the goals you desire. Be grateful for everyday, every person, and everything you have in your life.
In times like this it can be tough. These are scary times. The unknown is one of the most challenging thing you can face. That said, when you do, and you do so with excitement and the belief that "You Can Handle It" great thing can happen! I know this is heaving but I believe it must be said. The unexpected passing of someone before their time (IMHO) like Kobe and many that pass away daily, catches us off guard. Have confidence and don't let that be you.