Financially Fit & Fabulous: Your Health is Your Greatest WealthMonday, October 18, 2021
THE old adage your “health is your wealth” is a well-known quote that stems as far back as the ancient Roman civilization. So we're not talking about a new discovery here; more like a tried and true fact. Recognising the direct correlation between health and wealth should not be overlooked or taken for granted. We are also not that suggesting money isn't important, as we all need money to live.
Living a rich life, or true wealth means different things to different people. When we think of wealth, we usually envision lots of money and an abundance of valuable assets such as real estate, stocks and bonds. However, this can be subjective; while one person might feel wealthy to own a home, another would want a net worth of billions of dollars.
There is another definition of wealth: “a plentiful supply of a particular desirable thing.” Depending on what you value in life, you can create a source of wealth in various areas, even if you never attain significant riches.
Good health is priceless
Very often, women can get so caught up in the pursuit of taking care of our families, studying and trying to attain greater financial security that they neglect to take care of themselves and endanger their health. In your quest to amass material assets, it is vital to remember that wellness should be a key component of your overall level of achievement. You also have to remain physically well to truly be there for your loved ones and other dependents.
If you want to become truly successful in all your endeavours, maintaining good health is crucial. It is very important to strike a balance between building financial assets and maintaining your physical and mental wellness. After all, what good is it to be rich if you are too sick to fully enjoy your possessions?
Increase your strength and energy
Whether you're climbing the corporate ladder or managing your own business, you need to have the vitality to do well at work. Devote some of your time to keeping fit, and make the effort to maintain a healthy diet so that you can have the physical fortitude you need to make money. Making money takes focus, sometimes long hours of working and high energy are often necessary. If you cultivate good healthy habits, you can keep earning money later in life. Exercising also offers so many good benefits that are beyond physical. You will achieve greater confidence when you are in good shape.
Foster your mental well-being
Being physically well is not the only requirement for good health; you also need to be mentally and emotionally in tune. Engage in even more stress-busting strategies such as exercise, meditation, pampering and laughter to reduce work pressures and help you maintain your mental strength to build wealth.
Prevent downtime from work
You may think that you have to commit many extra hours each week to complete your goals, but you could actually be jeopardising your health by working too hard. Burnout can lead to sickness and lost production time, so leave space in your busy schedule for rest and rejuvenation. Taking time off from work with loved ones can help to refresh you mentally and prepare your to take on more work in the near future.
Reduce your medical expenses
Being in poor health can take away money from your wealth creation plans, so it is important to make the time to visit the doctor regularly and carry out the required medicals every year. By being proactive with your health checks, you could prevent costly procedures down the road. Sick people spend their hard earned cash on medical expenses, which reduces funds left to save towards their goals or do the things they enjoy. Also if you get sick, your health insurance bills will skyrocket. Taking good care of your health can be challenging, but it is important to make it a priority. If you have a demanding schedule, start by adopting small changes every day. For example, exercise just 30 mins at first daily and gradually try to add time as you go along.
Focusing on your health can help you to attain lasting wealth; so while you work at building your net worth, take care of your body and mind as well. Change your lifestyle, take a holistic approach towards health; in the long run, you will be happier and healthier, and hopefully wealthier too!
Xandria Wauchope-Lee, Senior Manager, Client Services, is a licensed investment advisor from Scotia Investments Jamaica Limited.