We all want to live comfortably, if not with an affluent lifestyle. But not all of us think about how to exit this life in style. Just today, I learned how that requires quite a lot of money!
A family estate at Loyola Memorial Plans, for example, now costs at least P5 million complete with an air conditioned family mausoleum. Five years ago, the same lot cost P3 million, quite a big jump in price. I think it was business columnist, author and public speaker Francis Kong who said one of his favorite investments is funeral lots! You know what they say about obstetricians and gynecologists – they are never out of business.
At The Heritage Park in Fort Bonifacio, a family estate costs P3.4 million – and that’s the cash price. The same lot goes up to P3.7 million if you pay in installment.
A stately funeral service will start with the cost of a casket. That will set you back P50,000 to P90,000. When you are grieving, the last thing you want to do is to have to deal with financial stuff.
Our Take Charge of Your Money article today says:
Consider this: nice caskets alone cost P50,000 and up, depending on the type (wood or metal). A three-day wake in a funeral home may cost P6,000 and up. There’s also the cost of embalming, food and drinks for mourners during the wake, and the cost of burial and/or crematory services. And the memorial plot or columbary space costs another P50,000 at least. Clearly, a family can expect to spend at least P100,000 for a nice decent funeral for a family member today. And since inflation is part of life, expect this amount to go up in the future.
On top of coping with the loss of a family member, a family has to bear the financial burden of meeting funeral expenses too. It is then wise to set aside some money for this purpose so the family will not be so burdened in the future.
Read the rest of the article here:
http://business.inquirer.net/money/personalfinance/view_article.php?article_id=97638
How about a memorial lot for a pet? 
(Source: PDI Photo)
October 30th, 2007 at 10:35 pm
Now, I’m thinking…Maybe, I should start investing in a memorial lot?
I prefer cremation though 
October 30th, 2007 at 8:16 pm
I totally agree, salve. dying has become so expensive over the years. our family have survived two deaths (grandparents) in the family in a space of 5 years. And the cost have escalated so high it has really kept up with inflation.
Our saving grace, if you may call it that, is the fact that we are from the province. The cost is relatively lower than the metropolis.
Recently, I went to my hometown in Davao. And one of our luncheon discussions was the rising cost of funeral expenses having related it to the news of a family friend’s demise. Somehow, am glad that my parents have the sense to prepare for the eventual death of everyone in the family, monetary-wise.
It may sound morbid to many but we all think of it as a fact of life. Therefore, we talk about it in practical terms.
And I, myself have expressed my wish for a cremation. It’s more hygenic (i think?
and practical.
October 30th, 2007 at 8:14 pm
[...] DUPLITO blogs about dying in style in Money [...]
October 30th, 2007 at 5:51 pm
Burial in cemeteries is fast becoming a luxury in a country of 88+ million in need of precious space for housing and farming. Supply/demand figures and the price tag confirm this. Cremation should be the way to go for future generations. And it’s more dignified than (gasp!) vertical graves. I’m aware cremation is compulsory in Japan and Korea (and even China I think) which are all densely populated.