Health and Wealth

Most are familiar with the expression that “Health is wealth” and anyone who has faced a health crisis will tell you that this is all too true.  While we may know this expression as a simple idea about the cost of losing our health, when we are curious and look deeper we see that wealth and health are intertwined in more ways than this simple expression conveys.

Building wealth and health both require knowledge, discipline, time, and money.  In order to build both these things one must first value the concepts as something they want to achieve and maintain and make a plan to build and sustain good health and financial prosperity.  While some of us are born with good health or poor health, into a rich family or a poor one, we can all take steps to improve our conditions by taking the right actions.

While it is important that we educate ourselves and seek knowledge about matters of our well being and money management, seeking professional counsel can be a great asset.  Both our health and our financial lives should be looked at with a holistic approach and having an experienced professional help you do this will accomplish two things, giving you clarity of where you are and help build your competency in these matters. Doctors, therapists, nutritionists and personal trainers are just some of the people we seek health counselling from.  Most of us see at minimum that we need an annual check up from a Dr to establish where our health is, and seek a remedy if we need. One should do the same for their finances.  Sitting down with a financial professional who can get to know you and see where you are at, can help you establish the right habits to build a strong financial foundation.  Just like with trendy diets or exercises, you want to avoid financial product that are seen as hot or a quick fix solution to everyone’s money woes. (Hello TIKTOK!!!) Just like each person’s body is unique, so is their financial world including their goals, risk tolerance, career trajectory, family planning and long term desires.   

Health and wealth will both improve if you:

Invest in yourself first:  No matter where you are in terms of money or health, make a commitment daily to choose a healthy habit, even if it’s a ten minute walk or a five minute mediation, once these are established habits you can eventually step up to a higher level.  The same applies to money.  Even if it's your first job, commit to saving a certain percent of every paycheck and set it to happen automatically.  Once this habit is established, it will be easier to increase in the future.  The earlier you start with this, the better!

Keep track of health and wealth habits:

Make sure you are getting enough sleep, drinking enough water and eating healthy foods. You also need to make sure you are not getting yourself into debt, track your spending and periodically review where you have your savings, investments and overall financial strategy.  It is good to have a check in with a professional at least once a year for both your health and wealth.

Invest in things that pay off in the long term:

Spend your health dollars wisely by investing in high quality food, exercise classes or studios you will go to, and cancel your subscriptions to ones you don’t use!  Having a therapist and or a personal trainer can help you if you need help building discipline and skills to do so. Same goes for your money.  Having a financial professional and a tax accountant guide you through investment and insurance decisions can help you avoid trends and will set you on the right track to avoid common money mistakes. Prevention is far better than looking for the cure!