The Most Overlooked Financial Tip

For all the time and effort and worry we put into our financial health, we often overlook how our emotional and physical health interacts with our financial security.  When you are stressed in life, and especially if you are stressed about money, that’s going to take a toll on you.

At the same time, there’s also the tendency to give ourselves more credit than we deserve for taking care of ourselves.  A new survey from the Transamerica Center for Retirement Studies reports that eight in 10 respondents describe their health as excellent or good. Yet less than 60% said they exercise regularly and eat healthfully. That math makes no sense.

I can think of no better investment in your current and future self than to take better care of you.

That starts with sleep.

And making sure you connect to friends and loved ones just to chat and be connected. If the physical isolation during the shelter-in-home stage of coronavirus caused you to short-change yourself on just talking, and I hope, laughing and confiding, please start exercising those vital muscles now.

For those of you struggling with maintaining a positive outlook during this very unsettling time, please don’t hesitate to seek out professional help. And if you are still focused on sheltering-in-place, there’s no need to venture to someone’s office. There are many therapists who will be happy to work with you over Skype or Zoom.

And don’t you dare be embarrassed. If you would benefit from help, but don’t know where to start, time to reach out to your friends. I am confident plenty will have a lead or two. And they are your friends. So that means they will be so happy you are standing in your truth and getting some help to be a happier and more confident you. That’s to be admired.

What does all that have to do with money? Well, when we are less stressed we make smarter decisions. We gather strength from our connections. And maybe some advice. All impact our ability to stay focused on the work we have, or the new job we now need.

And move your body! The better shape you are in, the less susceptible you may be to many illnesses. Blood pressure and diabetes are more manageable with exercise and a healthier diet. A healthier you likely has more energy to work at a high level, work longer (if that’s a priority) and may not have as many medical bills, which given the rise in copays and coinsurance can add up to thousands of dollars a day.

Taking care of you today also has a long-term pay off.  In the same survey, three in four respondents admit they are concerned about their health in retirement. Well, my friends, taking better care of you today ups the odds that you will enter retirement in better health. That’s going to be worth so much, as a healthier you can make the most of enjoying retirement.