On January 5, 2022

The health and wealth connection

By Kevin Theissen

Are good physical and financial health driven by the same fundamental psychological factors?

Many believe it’s true that people who value their future selves enough to regularly put money aside for their futures are likely to also make healthy decisions now to improve their health in the future.

This concept is supported by a study entitled, “Healthy, Wealthy and Wise: Retirement Planning Predicts Employee Health Improvements” by Timothy Gubler and Lamar Pierce of Brigham Young University.

They explained their primary question and findings of the study as: “We found that the decision to contribute to a 401(k) retirement plan predicted whether an individual acted to correct poor physical-health indicators revealed during an employer-sponsored health examination.”

They continued: “We found that existing retirement-contribution patterns and future health improvements were highly correlated. Employees who saved for the future by contributing to a 401(k) showed improvements in their abnormal blood-test results and health behaviors approximately 27% more often than noncontributors did.”

If you’ve procrastinated to save for retirement, you may want to take a look at your physical health as well. If one is off, it’s likely that the other also needs attention — similar to diet and exercise.

This idea is also supported by Dr. Talya Miron-Shatz, a medical and health decision making consultant and author, who believes that the primary personality trait might be conscientiousness. She was quoted as saying: “… those who save and take care of their health are high on the personality trait of conscientiousness… it’s the people high in conscientiousness who are tidy, don’t skip school, take their medication on time and avoid temptation in other ways, including not spending when they feel like it.”

If you believe that you are not yet one of the highly conscientious, don’t stress. It’s never too late to be more organized, aware, and actionable. Don’t try to do it all at once and rather try to improve just a little each day – continuously. Your physical health and bank accounts in retirement will thank you.

Kevin Theissen is the owner of HWC Financial in Ludlow.

Do you want to submit feedback to the editor?

Send Us An Email!

Related Posts

A life-changing experience abroad and for my dad, plus the addition of a second floor 

July 10, 2024
Building a Killington Dream Lodge, part 21 Important steps were being taken in building our Killington dream lodge. Dad bought an oil tank and furnace. A septic field was laid out. They were all costly and progress was dictated by a limited budget and work just on weekends. When I completed my Kleiningersheim internship, Dr.…

Thick heavy water

July 10, 2024
It weighs on my chest, pressing downward with a force I never quite realized before. Each breath into my lungs feels slow, like I have to force the oxygen into my body rather than it just seeping in like normal. It’s heavy, this burden. The air is so thick it feels as though you are…

Pain is part of the game

July 10, 2024
I got into the habit many years ago of asking my son (whenever he was injured) how he rated his pain on a scale from 1 to 10. Inevitably, it was always a 10, but as time passed and he matured, the numbers varied, and the scale became a good gauge for me to discern…

Then and now

July 10, 2024
Many of the things that were part of our lives back in the ‘‘‘50s are so different today. Let’s take a look at some of them. When you wanted to reach someone by phone you picked up the receiver of your desk-top or wall phone, dialed the number and if the line was busy you…