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Does your health span correspond to your financial span?
There are enormous benefits of good health by following a healthy lifestyle or otherwise, including physically, emotionally, and financially.
The majority of individuals understand the importance of good health. According to a survey on Retirement, Most retirees – including 99 percent of those aged 75 and up – believe health is more important than wealth to live well in retirement.
Nonetheless, there is a clear link between health and money. And even on an elementary level as well, the more financially sound you are on retirement, the more you can gather health-promoting activities and behaviors.
However, understanding the healthspan and wealth span ideas will help you better grasp the strong relationship between health and wealth. Healthspan is the percentage of your life in which you are generally healthy. The number of years your possessions can supply you with a comfortable existence is a wealth span.
Because excellent health is equally suitable for your finances, the longer your healthspan, the better it will be for your wealth span.
Is it beneficial to maintain one's health?
Maintaining excellent health will help safeguard your retirement savings from the high healthcare costs in retirement and may even reduce your need for long-term care, which can be highly expensive. Consequently, your ability to boost your retirement spending capacity and stretch your wealth span will increase further.
Of course, we can’t prevent every sickness as we become older. However, you already know the basics for maintaining your health: exercise regularly, a good diet, don’t smoke, and have regular check-ups, among other things. However, remaining physically healthy also facilitates maintaining good mental and emotional health.
A prudent investment
The more you understand the relationship between your health and your money, the more prepared you will be to make the necessary changes to improve your well-being in both areas. In other words, extending your life expectancy is a wise investment.