How do you think about your health in relation to your wealth?
While both are important, they are challenging to address simultaneously. But can’t we all agree that health and wealth aren’t mutually exclusive?
Solid physical health enhances your “health span.”
This allows you to pursue meaningful work for longer (if you want!), which may translate to a higher lifetime income.
Financial wealth enhances your “life span.”
This provides the means to pursue activities that may lengthen your life. But you need good health to ensure your life span is spent how you want.
In his book “Outlive: The Science & Art of Longevity,” physician Peter Attia looks at recent scientific research on aging to find strategies for living longer and healthier. Some of his main observations about health include:
- There’s no one-size-fits-all solution.
- There are NO quick fixes.
- It’s better to prevent problems than find yourself in the position of having to fix them.
How are health concepts related to financial concepts?
In a recent article, “Practicing Health Habits, Pursuing Wealthy Outcomes,” chairman and founder of Dimensional Fund Advisors, David Booth, identifies parallels to investing:
- There’s no one-size-fits-all investment solution because different investors have different goals and risk tolerances.
- There are no quick fixes to investing. To take advantage of the miracle of compounding, an investor needs time!
- Investors should be proactive about how they invest by making peace with uncertainty, constructing smart portfolios, and developing a plan that encompasses a wide range of outcomes.
Dr. Attia sees the goal of medicine as prolonging one’s life span and health span so that they are in the best shape to enjoy doing what matters most to them. Our goal as financial advisors is similar: we want investors to have a successful investment experience so they can use their wealth to lead the lives they want to live.
So, what’s the goal here?
Successful investing, like good health, requires long-term discipline and commitment. Together, let’s craft your plan to lead a healthier and wealthier life! However, it’s up to you to define that 😉.
Connect with us to discuss a strategy that’s best for you.
Please consult with your financial advisor and/or tax professional to determine the suitability of these strategies. All views, expressions, and opinions in this communication are subject to change. This communication is not an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services.