Your Health and Financial Wealth Are Closely Linked
“When health is absent, wealth is useless.” The intersection between health and wealth is where elevation and separation begins. To simplify what I am saying, please understand – “The greatest wealth is health.”
Fitness & Wealth
Every morning (on a good week) I hit the gym at 5:00 a.m. There is something special about the morning grind. Furthermore, there is something magical about physically doing more by 7:00 a.m. than 99% of people will do in an entire 24hr. day.
5:00 a.m. workouts sounds cool depending on who you ask and I assume it sounds “super early” to others. But at this point, neither justification matters because years upon years of waking up to workout has become a LIFESTYLE.
Just as 90% of business relationships and transactions happen on the golf course, 90% of business relationships are developed at 5:00 a.m. Go Getters galvanize in the a.m. We close deals in the hot tub, sauna or steam room. It’s one of the best feelings in the world because psychologically you are accomplishing the two most important things in life and in business; Health & Wealth.
The One Thing Money Can’t Buy
Gandhi once opined that, “It is health that is real wealth, and not pieces of gold and silver.” As a connoisseur of all things great, I have studied and researched the most wealthiest men and women on planet earth. Thinking about Steve Jobs and countless others, I’ll be the first to tell you: “You can’t buy good health.”
For anyone who believes health and wealth are not related and that the two have little to do with each other, again, let me be the first to tell you, one would be tragically misinformed.
The relationship between your finances and your health serves as a good base point and indicator for where you are financially.
First of all, to put it simply, unhealthy choices are expensive. The average price of a pack of Newports cigarettes in Michigan today is just under $9. If you’re a two-packs-a-day smoker, that’s approx. $6,480 a year you could have saved, invested or made even more money on. And that doesn’t count the high health costs your smoking habit all but guarantees down the road.
It’s the same with being overweight. If you’re one of the two-thirds of Americans who are overweight or obese, chances are you’re spending more money on food than someone at a healthy weight, and you’ll face the costly ramifications of your weight condition later in life.
What The Research Says About Health & Wealth
A George Washington University 2011 study concluded the average annual cost of being obese was $4,879 for women and $2,646 for men. (The figures include indirect costs such as diminished productivity and direct costs such as medical care.) Invested annually over a 40-year career at a conservative 5 percent average annual return, an obese woman could have almost $600,000 in savings and an obese man more than $320,000.
Second, financial problems can lead to health problems and vice versa, a cycle that can become a costly Catch-22. Financial stress can cause anxiety, migraines, insomnia and other physical ailments. It also can mean skipping routine medical checkups, not discovering important issues about your health and making poor dietary and other lifestyle choices. Over time, this can lead to bigger, costlier health problems, which in turn can produce ever-greater financial distress.
A study published in The American Journal of Medicine in 2012 stated that more than 62 percent of U.S. bankruptcies in 2007 were attributable to medical problems and were part of a troubling trend.
Finally, there’s the grim reality that poor health cuts lives short. Besides the tragic truncation of a loved one’s life, it’s also the tragic truncation of a financial legacy for the spouse, children and grandchildren.
While money can certainly help you improve and maintain your health, too much focus on earning it can be unhealthy, too. In fact, some believe the stress of competition in American society is one of the many factors that explain why the U.S., despite being one of the wealthiest countries in the world, is far from the healthiest or longest-lived.
So, protect your health — and your wealth potential — by balancing work and play. Be responsible about your career and your physical well-being by exercising, eating right and taking time to relax and enjoy life.
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