Last Updated on September 2, 2024
Longevity Risk is the risk that we will outlive our money. It’s Baby Boomers’ greatest fear. The thing that we aspire most for our future, longevity, is the exact thing that most threatens our future because of the “health-wealth connection.” The length of our life and the number of healthy years ahead are directly tied to our bank accounts.
The number one investment that everybody can make actually costs you no money at all. It is positive lifestyle modification. It is improving your overall health and wellbeing, because here’s the given: The greatest expense that we will all have moving forward is in healthcare. Anything you can do now to reduce future healthcare costs is going to make whatever retirement savings you now have or might accumulate last a whole lot longer.
Positive lifestyle modification can take many forms. It includes physical exercise, emotional wellbeing, maintaining a proper diet, limiting alcohol intake, not smoking, proper hydration, protecting yourself from the sun, and so much more on a daily basis. You don’t need to change everything at once, but making small steps each day to a healthier routine will pay dividends in the long run.
Of course, taking care of our body isn’t the only way to prepare for our “what’s next!”
Jean Chatzky is a best-selling author and an award-winning personal finance journalist who joined Growing Bolder’s “Launchpad to What’s Next Live!” with advice on how to get financially prepared for your future.
You can watch all of our inspirational and motivational videos for free on our new streaming platform, WATCH.GrowingBolder.com . The time to start making the rest of your life the best of your life is right now.
