Health is True Luxury – The statement “The greatest wealth is health” is attributed to Publius Vergilius Maro (“Virgil”), a Roman poet who lived from 70 BC to 19 BC. To quote another very wise man, when asked what surprised him most about humanity, the Dalai Lama answered, “Man! Because he sacrifices his health to make money. Then he sacrifices money to recuperate his health.” This begs the question of whether it wouldn’t be better to focus on health as a lifelong pursuit rather than leave it as a concern for later years. A recent Harvard study showed that subjective quality of life decreases more dramatically for rich people in poor health than for poor people with poor health. This doesn’t mean that poor health affects rich people more than poor people or that the value of good health is directly proportional to your quality of life. It suggests that poor health robs more of the rich than the poor.
As the Dalai Lama noted, many people sacrifice their health to acquire wealth and then must sacrifice their wealth to get healthy. The problem is that as most people age, their ability to be healthy declines. While it is true that wealthy people have greater access to adequate health care and, therefore, generally enjoy better health than their poorer cousins, the old maxim that “an ounce of prevention is worth more than a pound of cure” is especially true in today’s expensive health care industry.
It is curious that only 52.3% of Americans prefer health over wealth. Health and wealth are important resources for a happy and successful life. People in poor health often die young and spend thousands of dollars on medical care that could have been invested for retirement. Studies also show that people are far more interested in making sound financial decisions than good health decisions before retirement.
People spend years planning their retirement. Sadly, they will likely work longer, suffer greater economic uncertainty, and might have poorer health status than retirees in previous generations. Adopting a healthy lifestyle as early as possible would increase the likelihood of enjoying financial security in retirement. People with medical conditions or health risk factors that place them at increased risk of disease in retirement will likely need additional retirement benefits to cover their medical expenditures.
A Kaiser Foundation study found that in 2012, an estimated 1 in 3 Americans had difficulty paying their medical bills within the past year. They were paying previous bills over time or could not pay their medical bills. Most people who had trouble paying medical bills had health insurance but had out-of-pocket expenses for health care not covered by their insurance or cost-sharing expenses for insurance deductibles and co-payments. For all people, financial resources are critical to the quality of their retirement years.
True wealth lies in being healthy enough to fully enjoy life, even if you don’t have much money; essentially, good health is the most important asset you can have. Incredibly, life expectancy has dropped in the last few years in the United States. Where the average life span was 79 years, it has now dropped to 76 years and is falling. Furthermore, the metrics of health are dropping as well, as disease, obesity, and the cost of medical care are rising.
True wealth comes from being healthy enough to live a fulfilling life.
True Wealth emphasizes the importance of caring for your body and mind through healthy habits like exercise, nutrition, and stress management. Maintaining optimal health can prevent expensive health issues later in life and allow us to live longer.
Individuals and cultures must start focusing on optimal longevity. Many areas have focused on wealth training that attracts individuals who wish to protect and enhance their wealth through tax havens and wealth protection. It is likely that this training will expand to health centers as well as wealth centers as a means of attracting high-net-worth individuals by focusing on quality longevity as well as wealth enhancement.
Attention has recently been directed to those areas around the world whose inhabitants live the longest. Known as “blue zones,” people who live there have a much longer life span. Several cities have decided to create their own “blue zones” to attract people with high net worths (Jacksonville, Florida; Loma Linda, California; Santa Cruz, California; San Luis Obispo, California; Barnstable Town, Maine; Bridgeport, Connecticut; Charlottesville, Virginia; Boulder, Colorado; Fort Collins, Colorado; Naples, Florida; Hawaii; and Provo, Utah, for example). This involves providing specialized financial services and advanced geriatric medical providers, green spaces, and nutritional products that enhance life.
These communities focus on several factors that will enhance the quality of life and longevity:
- Community wellness initiatives
- Education for longevity and enhancing health/wealth principles
- Environmental Health
- Businesses Adopting Healthy Policy Initiatives
- Encouraging healthy food options in restaurants and kiosks
- Public exercise options
- Stress-free zones and fostering connection with others
While it is undoubtedly important for the culture of an environment to support these initiatives, we can practice each of these factors in our own lives. What good is it to have wealth if we don’t have health? We have to make health just as important as wealth if we will have the quality of life we desire. Dying early, chronic disease and pain, and other aspects of poor health do not allow for a high quality of life. Ironically, good health is usually not listed on a balance sheet, but it is our most valuable asset.
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