Whenever a person might be thinking of how they might improve their physical health their first thought might be to seek advice from their doctor or fitness coach. However, it may surprise you to know that financial planners can positively influence your physical health too. Okay, we admit they are not going to create an exercise programme for you, but their financial expertise and experience could have the same effect.
There is lots of evidence that shows that the more a person’s finances are managed and under control the healthier they tend to be. That most likely applies to any aspect of our lives where the less stress we have relating to our work, our family, or our view of the world altarage, the less damage is done to our health.
Poor Finances = Poor Health
Coming back to finance and it is not an anomaly that countless instances of doctors and other medical professionals dealing with health issues ranging from panic attacks to suicide attempts, the root cause can be traced back to financial difficulties. Sadly, some have taken the ultimate and tragic decision to end their lives and, before doing so, have made it clear to the loved ones they have left behind that money issues were the reason.
However, given the correlation, there is between our physical and mental health and the fact that one influences the other it stands to reason that regardless of the source of any illness or ailment we have, our physical health is going to be affected in some way.
As for how our financial situation will have an impact, it can have both a negative and positive effect. When we have no financial planning, do not control our spending, let bills go unpaid, rack up lots of debt, and have nothing put away for our future, it is little wonder that stress, anxiety, and depression take us over.
When any of these occur our mental health is not good, and this can also lead to issues with our physical health. Cold sweats, not eating properly, sleepless nights, digestion issues, and the palpable strain we put upon our entire body, will often result in a visit to the doctor being required,
Health Finances = Healthy You
On the flip side of the coin, we have a situation where we have had the good sense to employ a financial adviser, our debt is under control, we have savings and investments, our bills are paid on time, and we have a sizeable sum waiting for us when we retire. Here, it will be a case of “Money worries? What money worries?”.
When we are in this scenario there are no anxiety attacks, sleepless nights or missed meals due to us being preoccupied with our finances. Thanks to our financial advisors, our money is managed effectively, both for our immediate needs and for our future needs.
One other benefit that is open to us if our finances are in order is that we are more able to access enhanced medical care. Whilst our health system has many positives and many plaudits, as with most things in life, there are premium options, but they cost money. If financial planning has allowed your finances to flourish then it might be that you choose to invest some of that money in your health by choosing private health care or private health insurance.
Our Senior Years
Finally, we come to an area where financial advowsons are often asked to help their clients and that is retirement needs. It is no secret that as we age our bodies are prone to more ailments and illness and our powers of recovery diminish. We may also get to a stage where we need additional or even constant personal care.
If we have has sound financial planning in place and have followed what our financial advisors have suggested, our retirement income and the money available to us will be greater. This should allow great scope as to the levels of care we can afford in our senior years.