Many individuals have only a vague idea of what wellness means to them personally and how it fits into their financial plan. Wellness is so much more than exercise and eating right. The scope of wellness is so broad and encompasses so many facets of wellbeing that it deserves much more thought than we tend to give it. It’s important to realize the close tie between your finances and your wellness, as financial independence gives you the opportunity to live life as you choose. You probably will not be able to completely achieve your financial goals unless you know what it is you want to support.
Your first thought is that you want to maintain your lifestyle and your physical condition. You want to ensure that you stay mobile, flexible and active. You might want to consider a home gym or a gym membership. Or your style might be more like walking or riding a bike. Maybe you have always wanted to play golf or tennis. Consider what resources you will need to secure the lifestyle required to meet your expectations. But, have you thought about wellness beyond the physical aspect?
Another facet of wellness is emotion. I think we can all see how emotional and physical wellness go hand-in-hand. Keeping mind and body busy and engaged helps you achieve your contentment level and involves many other aspects of wellness – social, intellectual and environmental. Reading, crossword puzzles, attending classes or learning new skills support the mind. Socially interacting with others also keeps our minds sharper and more willing to accept change. And, of course, we want to plan for the physical surroundings we envision that will enable us to live safely, securely and confidently. Again, what does your financial plan need to accomplish your emotional wellbeing?
And finally, as you come to reflect on your life, your spiritual wellness will most likely come into focus. Take a while to consider what will allow you to “grow old gracefully” and bring personal satisfaction. As you plan to share your passions and insights on life, consider your life-worth-living assets. Your desires might include planning to fulfill the goal of positively impacting the lives of your loved ones, or giving back to the community and world you are so privileged to live in, or supporting the passions you have always believed in. This would be your legacy – the wellness of your spirit and your heart.
The sum of all these wellness aspects is your TOTAL WELLNESS! Serious time and consideration given to all these aspects might allow you to capture some issues you otherwise might not consider and have the resources needed to achieve your objectives. With the help of an experienced and trained Certified Financial Planner™ professional, your financial plan could fund your life through good times, as well as trying times! Personalized planning now could significantly improve your future.
Have a great weekend!
Source: Steve Gresham, “The Search for Wellness”, Financial Advisor, April 2020, pp 31-32