Become Healthier and Wealthier by Kicking These Bad Habits

The connections between health and wealth are numerous but easily overlooked when we’re too focused on improving one or the other. It’s easy to forget that health issues can devastate our finances and poor health may lead to us making bad financial decisions. On the contrary, the benefits of maintaining good health can include better productivity, less time off sick, and a more positive outlook on life, all of which make it easier for us to make smart financial choices.

Here are a few bad habits that if kicked, would make you both healthier and wealthier:

Smoking

Cutting our cigarettes is an easy way to add years to your life. You’ve heard the health risks that come with smoking: heart attack, stroke, lung cancer, coronary heart disease and more.

In addition to the money you’d save on purchasing cigarettes (an average of $6-$8 per pack), stopping smoking will also save you on health care costs. Insurance premiums for smokers almost always cost more than those of nonsmokers.

Poor Diet

Cut the excess calories from fast food and high calorie processed foods. A balanced diet leads to a healthy weight. Being at a healthy weight means better health both mental and physical.

In turn, better health means you’ll have lower insurance premiums as well as lower life insurance rates. It’s estimated that healthy people save, on average, $1,429 more each year than people who are obese.

Physical Inactivity

You don’t need to follow an aggressive exercise program to be active. Merely adding a 30-minute walk each day can drastically lower risks of developing a chronic health problem.

Adding exercise, even if it’s minimal, is similar to the way we increase wealth. Exercise includes setting goals, staying disciplined, and maintaining positive habits. If you can do one or the other, exercise or saving, you can do the other.

Whether you aim to increase your wealth or to better your health, work to find a balance between improving both.

Retire In Comfort

Do remember the good old days? You get up, go to work for 30 years and then retire. The company funds your pension fund, and you have sufficient savings to cover the rest of your life. That is not the case anymore. Many people live 20 or 30 years after retirement and too many people are spending more than they can afford.

Because of this, is you take control of your retirement and IRA funds.

The stock market historically has gone up. But when it goes down, or sideways, which is expected only to “understand”? Many would have us believe that yes, just “go with the flow.” Or you might say it’s the “totality” of the market, everyone is getting hammered. Stick with it, and everything will be fine (have they forgotten what happened in 2000?).

Brokers will tell you that your investment is safe and secure because it is disseminated through many different companies and many different industries. With all things relative, it is indeed “different.” Why the falling market value of your investment or to engage lower than the market?

It should be understood that only you have the choice.

You can use different investment tools. Don’t sell all stocks and mutual funds. These are necessary as well to have a diversified portfolio, and there are many good brokers and investment funds out there. There are many that are worth their weight in gold and I would recommend to my friends and family.

Despite knowing that the stock market will go up, you still want to look for alternative ways to make money in the market and to keep your portfolio diversified.

So now it’s time to take control of your future. Do not let anyone else dictate what you need, want or do.

As lifespans increase, we will continue to have more difficulty paying the drops in the stock market. With age, it becomes increasingly important that your portfolio does not diminish its value. Do not rely on others to ensure that you retire in comfort. Take control and truly diversify your retirement portfolio with non-traditional assets for a more secure and rewarding retirement.

Retire rich and remember that these are your golden years. Do not waste them. Live a happy life in retirement.

Do not make excessively risky decisions as if you lose your money you may have no second chance to recover it. Stay away from investment firms with suspect reputations. There are many scams on the market these days. Be cautious to avoid becoming a victim.

Many people are concerned about retirement investing. Of course, there are no universal solutions in the retirement investing market. Do your due diligence – it will be much easier to make a wise retirement program choice.

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