Invest in Your Health
For those among us that look forward to a long and comfortable retirement, in the hopefully not too distant future, the world of investing is nothing new. 401Ks, Roth IRAs, brokerage accounts, mutual funds, real estate, individual stocks and bonds. Many employ the tried and true process of steady growth, through monthly or annual contributions, and diversify their assets to help minimize risk. Time and the magic of compounding interest are what can turn small investments into a comfy nest egg. The earlier you start, the more you will have when the time comes. Conversely if you wait until the end of your earning years to begin putting away for tomorrow you will accumulate cash, but without enough time for it to work and earn more for you.
So, save early and save often.
One fundamental aspect of retirement living that is sorely overlooked however, is one’s health and wellness. The emphasis on financial security is such that it would appear that all you need for a good retirement is enough money. The cold truth is that, it doesn’t even matter if you have a billion dollars, if you simultaneously have kidney failure, heart failure, liver failure, advanced diabetes, debilitating joint pain or any of the myriad chronic conditions that afflict the majority of Americans. No amount of gold or silver can buy back health.
To this I say, “Look to the wise investor, and start early.” Now is the time you should be investing in your health. Get a proper assessment, determine if there are particular conditions in the future you should be concerned about, and begin to modify your life to mitigate the likelihood or severity of those outcomes.
A 2023 report from Fidelity, the largest 401K provider in the US, shows that 52% of Americans are not on track to comfortably pay for their retirement.
Compare this to a 2022 study published in the Journal of the American College of Cardiology that concluded only 6.8% of Americans had optimal cardiometabolic health.
So there you have it. Half of us need to get better at saving our money, and pretty much all of us need to get busy saving ourselves.
