By: Dan Johnson, CFP®
Having good health while in retirement plays an important role in helping you achieve a long, successful, and fulfilling retirement. In a 2016 health study*, individuals were asked what they would want more of in the future. Health came back as the most popular choice at 37%.
Focusing on areas that we have control of is important when it comes to financial planning. How much you save, invest, spend, etc. The great thing about living a healthy lifestyle is that it is something each of us has control over. We know that one crucial way to help fully enjoy your lifetime of work and savings is trying to stay as healthy as possible. The importance of consistently investing is a topic we often touch on, but we also know that taking the time to consistently exercise, eat nutritiously, and live a healthy life style has lasting positive effects on being able to enjoy life in your years of financial independence.
An interesting fact that the Stanford Center on Longevity found in 2016* is that clients’ health extends past simply going to the gym, physical exercise, or dieting. Being socially active helps enhance your immune system, boost physical health and contributes to a longer life. Conversely, people who are socially isolated will have health risks similar to those of smokers and a mortality risk that is twice the risk of obesity.
One fun thing that we like to talk about is the impact on your financial plan by implementing healthy habits. The best doctor’s bill is the one you never get.
People save up to $6,000 a year through healthier habits, per a 2015 study from Virginia Commonwealth University. Imagine what you could do with an extra $6,000*?
You could take your family on a vacation (and a very nice one at that!), give money to your favorite charity, and many more options.
Walking only 30 minutes a day can have a marked improvement on your blood pressure, maintaining body weight, and reducing your risk of diabetes. Plus, it is a great excuse to enjoy the beautiful walking trails, lakes, and parks that Minnesota has to offer.
We encourage you to take the time to develop those healthy habits. We want all of our clients to experience their best and most fulfilling retirement possible, and we know your health is an important part in this.
*Information from Transamerica “Wealth Meets Health” brochure and website which includes studies.
Because The Wealth Group, Austin B. Colby & Associates is independent of Raymond James, the expressed written opinions above are our own and not necessarily reflective of Raymond James’ opinions.