Should you buy your funeral now?

Are your “final arrangements” in order?

While you should have your wishes in writing and money put aside for that - you should NOT go ahead and pay for your funeral now. According to AARP, there are a lot of prepaid funeral scams out there. That company may wind up dead and buried long before you need to be. Even if it’s not a scam, you’ll likely wind up paying more than promised, or worse, leaving your loved ones to foot the post-mortem bill.

The best approach is to pre-plan, not pre-pay for your final arrangements. You can put aside money to cover the costs in a payable-on-death bank account to give your heirs easier access to it when the time comes.