We have heard the phrase “health is wealth” many times. We have also heard countless times that one of the biggest investments we can make is in our health. Because our health is more important than financial assets, it is our true wealth. Of what use is financial success if you can’t enjoy it for health reasons?
If you think about it, there are also signs that good health leads to financial prosperity. Health is the foundation for further wealth: Health and prosperity are linked in several ways. But one fact that stands out among all is that health itself promotes wealth. A healthy person will be more active, smarter, and more efficient, this directly affects their ability to earn more, and this money can be used to create more wealth.
When you are in control of your finances and your health, it creates an ideal environment for mutual growth. However, on the other hand, problems in one of these areas often lead to problems in the other. Illness can affect your wealth in several ways. It can take you away from work more often and limit your earning capacity. It can force you to spend what you earn on health care instead of things you love. Indeed, a 2012 study published in the American Journal of Medicine found that more than 62% of bankruptcies filed in the United States in 2007 were due to medical issues, a statistic that is really worrying. And on top of that, poor health leads to shorter life expectancy, i.e., a shorter period to earn and build a stable financial legacy for your spouse, children, and grandchildren. Let’s look at some ways your good health can contribute to financial success.
- Good Health Is Your Tool for Success
Most people would cite intelligence, work ethic, or talent as the most important “X-factors” in determining whether someone will succeed. For the most part, that’s true. A good college degree can land you a high-paying job, and a good work ethic coupled with intelligence is a good indicator that you can be successful in building a high-earning business. And the talent? Well, talented people can find lucrative and high-paying jobs in the entertainment industry.
But what good are these qualities if you are not healthy? In the world of finance, there is a term called “physical capital” which simply means a person’s ability to earn money and make investments. There is no getting around it, poor health will certainly put a damper on the size of one’s physical capital. Time is extremely crucial when it comes to building wealth: when you’re constantly battling illness, your time is divided between taking care of your health and thinking about your finances.
In addition, healthy people generally live longer than those with health problems. Not only does this give them more time to focus on building their wealth, but it also gives them more time to see the long-term rewards of their investments. Simply put, if you take good care of yourself, you greatly increase your chances of making more money and seeing the rewards of your investments and savings.
- Happiness Can Lead You to Great Wealth
Poor health is not only a physical problem, but it can also be psychological. Good mental health is a good indicator of a person’s success. Studies show that when you generally start and end your day in a good mood, you’re likely to live longer, have happier relationships, have a happier home, and ultimately achieve your goals.
A good mood leads to being more productive at work and less absenteeism and tardiness. You’re also more likely to stay in your job and get promoted or survive the early days of your business, which could eventually lead to future income. With the ability to form better connections and happier relationships, your chances of building a profitable network and improving your career are greatly increased. On the other hand, the pressure of your job can lead to intense stress, which in turn can prevent you from achieving your career goals. Too much stress can also affect physical well-being, as it can lead to other problems, like high blood pressure, which can trigger a heart attack or even a stroke.
- Poor Health Can Be Expensive
There is simply no escape, the cost of hospital bills and other health issues can be quite high wherever you are. Even in states where healthcare is considered one of the best, it comes at a very high price for residents, as health care costs continue to rise. Paying hospital bills or regular medications can hurt your wealth. Money that you could use to invest or start a new business. In either case, the hospitalization and recovery time will prevent you from working and you may also lose income. For starters, many people with health issues also tend to have unhealthy lifestyle habits. In addition to effects such as lost productivity, many people with health issues lead unhealthy lifestyles, which can also negatively impact their finances.
“Wealth” depends on “health” and is linked to it in more ways than one, a simple example is that if you suffer from physical and mental illness, you will not be able to work properly or you will not be able to work at all. And if you can’t work the way you want, you can’t create the wealth you want. After proclaiming that it is not wise to be “unwealthy” to be “healthy”, meaning, don’t become so obsessed with health that it becomes an obstacle to your ability to generate wealth. Health is also wealth, and a significant one, the value of which is understandable for those who really consider it as wealth and not just as a fad. Those who have not realized this need to think more carefully.
For A Healthier Lifestyle!
There you have it, just a few examples of how ignoring your health is a big no when planning for financial success. So, exercise regularly and always get a good night’s sleep to repair your body and lift your spirits. Reduce your trips to the hospital and your bills by being in better physical health.
At Reb0und, we can help you manage your finances. We have counselors that will give you the best advice on how to strike a balance between building wealth while maintaining your health. Call us on 800 852 5049, send us an email at contact@reboundfromdebt.com, or fill out a contact form here with www.reboundfromdebt.com/schedule-a-call/
