My mother is an avid reader and she’s always giving me newspaper clippings, dog-earred magazines, blurbs, etc. penned with ideas she considers to be valuable information that I MUST read, right this minute.
Her intentions are always good and, most of the time, I do read the bag full of clippings that she sends home with me after our visits.
But this week, Viviane (Paula Cashflow’s mom) nailed it! I was impressed. Let me tell you about this week’s “mom clipping”.
Did you know that financial planning is considered healthful behavior?
My mom’s always been a health nut. When we were growing up we never had sodas, chips, or cookies in the house. If we had cookies, they were home made. So it was no surprise to her when she stumbled across this newspaper blurb dated Sept 6th from the Tampa Bay Times.
According to a new study in Psychological Science, “people who are good at planning their financial future are more likely to take steps to improve their physical health – and then actually become healthier.”
When you think about it, building wealth does take steps:
- Monthly savings
- Monitoring spending
- Setting financial goals
Well, so does building physical health
- Eating well – remember G-BOMBS
- Avoiding snacks, sodas, sugar
- Consuming alcohol in moderation/not smoking
- Exercising daily
The article went on to say that “researchers studied financial and health information from employees of an industrial laundry company in the Midwest, comparing 401k contributions to health measures, i.e. blood test results…and found that a year later, the 401k contributors were more likely to follow advice on improving their health than those who didn’t save for the future.” Wow!
Translation: if you take the time to save diligently, chances are you are probably attentive to your overall physical health too.
If you’re a smoker and a saver, chances are you’re just funding your health care account and not your retirement account.
Further, the journal went on to say that “the savers, on average, saw a 27% improvement in their blood tests.” That’s huge, folks!
Okay, Paula Cashflow is always interested in takeaways from any research. Here’s my takeaway: if you are predisposed to saving for retirement/emergencies/etc., chances are you are also predisposed to achieving above average overall physical health.
Ask yourself this? Which camp do you currently fall in?
Camp One: save money with the result being better health.
Camp Two: not save money and be burdened by an unhealthy lifestyle.
The choice is yours!
Because it’s about life and how you live it.
In the spirit of financial well-being,
Read more abut the study:
Gubler, T., & Pierce, L. (2014). Healthy, Wealthy, and Wise: Retirement Planning Predicts Employee Health Improvements. Psychological Science, 25(9), 1822-1830.