Warren Buffett is one of the most successful investors in the world and has personally amassed over $80 billion during his successful career. He was once asked what he thinks the greatest investment was and his answer surprised many people.
He said that the greatest investment is the one in yourself – improvements to yourself are not taxed, inflation doesn’t affect it and we all have the potential to better ourselves. One of the best investments in yourself would be your health. We are constantly reminded that exercising, eating healthily and getting enough sleep will help us to feel and look good. However, it’s often difficult to remain disciplined. The motivation you need might be found in understanding the financial benefits of a healthy lifestyle. Here are five financial benefits to motivate you:
Reduce today’s medical costs
A healthy lifestyle will strengthen your immune system. The stronger your immune system is, the better your body is at fighting off infections or bugs.
This reduces your medical expenses – like costly doctor’s appointments and expensive medications. Furthermore, you’ll probably take less sick leave. This might not affect your salary now, but your absence might be taken into consideration when a possible promotion comes about.
Reduce tomorrow’s medical costs
An unhealthy lifestyle can lead to or worsen many conditions or illnesses. Many of the complications like heart disease, liver disease and respiratory problems arise from these conditions and illnesses. They are scary enough but they are also expensive to treat. Many of these expenses are only realised later in life when we need funds to cover other expenses. Severe illness insurance policies* may help out but they are a very costly option.
Become your team’s MVP
Eating healthily, exercising regularly and getting enough sleep will often make us feel stronger and happier. Doing this will also improve your productivity levels and increase your alertness, which will make you feel more awake and ready to tackle anything which comes your way.
This may also improve relationships with colleagues and the increased productivity and creativity will benefit your earnings potential.
Enjoy your retirement
You would have worked hard throughout your life in order to retire comfortably. If retirement is filled with aches, pains and illnesses you might run through your retirement savings faster than you would have anticipated.
This will lead to you not actually being able to enjoy your retirement and the funds accumulated for your post-work life.
Pay less for insurance
Insurance companies assess your health when you apply for life insurance. The healthier you are, the less risky you are to them and the lower your insurance premiums will be.
These financial benefits should be added motivation to push you to a healthier lifestyle. We all deserve to live life to its fullest and enjoy our hard-earned financial stability!
🔤 Word of the Week*
Severe illness insurance policy – a type of life insurance policy which pays out a lump sum when you contract a severe illness.