Being diagnosed with a terminal illness can be a defining moment. Sometimes, it prompts an evaluation of priorities. Whether it’s your diagnosis or a loved one’s, it does not necessarily mean that you can’t fulfill some dreams and make incredible memories in the time you have left.
A terminal diagnosis may impact your ability to work because of your condition or you may need to take time off to care for someone you love. Whether your work is impacted or not, there are many other options for financing a dream vacation.
Sell Your Life Insurance
Companies such as American Life Fund buy people’s life insurance policies. While you will lose some of your funds to commissions, this is a way to have cash in hand to pursue some of the things you’ve always dreamed about doing. You can also take advantage of special discounts to make the money you have stretch a little farther.
Have you dreamed of a Hawaii vacation? There are local companies that offer discount rates on tickets to a range of activities to make your Hawaii vacation perfect. You can get deals to Maui luaus, take a helicopter tour, sightsee by horseback or ATV, or take a bike trip around one of the islands. There are also packages for ziplining, kayaking, snorkeling and more. In between your adventures set aside time to enjoy the spectacular sunsets and relax on the beach. Hawaii offers something for everyone, which makes it an ideal family holiday destination.
Make-A-Wish Foundation
This foundation is devoted to making wishes realities for terminally ill children. They rely on donations and devoted volunteers to fund dream vacations and other activities chosen by the children. They rely on referrals. A friend or family member can apply to have your child’s wish fulfilled. To qualify, the child must be under the age of 18 and at least 30 months old.
Some children may choose to have an experience for their wish, such as being an astronaut for a day. Others want a chance to meet their favorite sports team. Make-A-Wish Foundation and other wish-giving organizations support all wishes, including vacations. Many children wish to take a trip to Disney World while others dream of a family adventure on a cruise ship. Others may dream of seeing an exotic location, such as Hawaii. These charitable organizations are devoted to ensuring terminally ill children get a chance to make their wish come true without their family struggling financially.
Cash Out Savings or Use Equity
It’s an option to withdraw money from your 401K. You may need to pay taxes on your withdrawal, you don’t have to pay back the balance withdrawn. It’s also an option to use savings funds. Those with an ill child may have college funds they can cash out, so taking a dream vacation doesn’t necessarily mean going into debt. Those who don’t have those options can consider negotiating a loan, such as a home equity loan, to secure the funds they need.
How much money you will need will depend on where you want to go. Perhaps you’ve dreamed of cruising to Alaska or taking a road trip to the Grand Canyon. Maybe you’ve always wanted to see Australia or Costa Rica. You may want to spend time by the ocean, and have the option of visiting a number of different countries where you can do the activities best suited to your dream vacation. It’s a good idea to research the cost of travel, lodging and things you want to do. This will give you an idea of how much money you need to make your dream trip, and ensure you plan accordingly.
