Health is Wealth

“Health is wealth” We’ve all heard that statement.  It means your physical and mental well-being is more important than your finances and net worth. I wholeheartedly agree with that sentiment. But let’s think of that statement in a different context. “Health is wealth” can also mean achieving optimal health is very similar to achieving financial freedom. The steps to success in both are almost identical. Think about it ~ the principles are the same: 1) Start early & be consistent  2) Diversify  3) Have both short and long-term goals & 4) Make sure you have a trusted expert if you get into trouble.  

Principal #1 Start early and be consistent.

It’s never too early to be living healthy or to start saving a little extra cash.

Starting early allows one to take advantage of compounding.

If a child starts early with an active, healthy lifestyle: exercising, spending time outside, getting restful sleep, enjoying friendships, he/she will grow up with those habits, They will not only build strong bones and muscle mass, but also meaningful relationships and a calm mind. If that same child eats a healthy, well-balanced diet, it is likely that habit will stay with them as an adult.

If a teenager learns to $pend less than they make, if they learn to save just 5-10% of their summer job paycheck, that important lesson will follow them into their later years. By age 30, he/she will see the benefits of maxing out their contributions to a 401k and Roth IRA.

Teach them young, build a solid foundation, and let them reap the rewards.

Principal #2  Diversify.

Let’s talk diet and exercise. There’s no way any person can be healthy & fit by eating one type of vegetable or doing only one exercise. Instead, variety is key: salmon, steak, broccoli, berries, eggs… the list goes on. (We can argue about what should be included on the list in another post! ) It’s also essential to do more than one type of exercise. Can’t just run mile after mile and expect optimal fitness… One needs to increase aerobic capacity, strength train, work on mobility and flexibility. You can even take health diversification a step further… a patient can not solely focus on a single set of cholesterol numbers and expect good health.  He/she has to be concerned about blood pressure, waist-to-height ratio, sugar, and yes, mental health. 

The same can be said for financial planning. Simply stuffing cash into a savings account won’t be the answer to your retirement dreams. Investments should be varied between cash, CDs, bonds, mutual funds, individual stocks, index funds even international investments. You get the idea. 

Principle #3 Goals 

I admittedly am a goal-oriented person. I love having 1, 3, and even 5-10 year goals set out in front of me. It focuses my efforts and encourages me to have a plan. Reaching those goals feels pretty damn satisfying. I make every effort to have patients set goals too.  For example, a patient might agree to a one-month goal of losing 5-10 pounds, a six-month goal of getting off of 2 chronic medications. Maybe a 1year goal would be a personal record in a 10k race. A 10-year goal might include continuing to live independently. 

With finances, it absolutely helps to have goals as well. Short-term goal might be having $1000 saved and set aside “just in case.”  A 1year goal might be to save for a house down payment. And who knows…a long-term goal might be to have $1 million banked before you’re 50 years old.

Regardless of whether we’re talking health or wealth, short and long-term goals focus your efforts and set you on a path to success.

Principle #4  If trouble…

Neither health nor finances are without some unexpected bumps in the road. And when that happens (because it’s bound to happen…), you really want an expert on your side.  

If you find yourself with some odd symptoms, or unexpected illness, think of how reassuring it would be if you have a really good primary care doctor, a DPC doctor, in your corner. 

If you find yourself in a financial pickle, imagine how much easier it would be if you had a reliable, trustworthy financial consultant who could offer sound solutions and advice.

So, there you have it health = wealth  &  wealth = health.

They are guided by the same principles.

As I’ve said to many patients and colleagues, 

THERE IS NO SHORTCUT  to a healthy lifestyle. 

THERE IS ALSO NO SHORTCUT to financial freedom.

Both require day-in and day-out, year-in and year-out commitment. 

Start early.

Diversify

Goals.

Have an expert on your team.

It can be difficult. But it is worth it.