The Best Investment May Be Your Health

Of course investing and saving is important for your future. But do you want to know a way to really get good return on your money? Invest in your own health.

I am not going to get extremely analytical here with the costs of health care. We all know it’s expensive and looks like it will continue increasing in cost for the foreseeable future. As often as we give investment advice and financial planning recommendations to our clients, we rarely venture into health and fitness. Why would we, right?

As comprehensive financial planners shouldn’t we just stick with numbers, data, projections, investments, etc.? Maybe not. If we are truly comprehensive and we are already discussing future costs with clients, shouldn’t we also discuss and encourage clients to avoid some of these costs? As comprehensive financial planners we may be doing our clients an injustice. If we believe there are ways to decrease the likelihood of a large expense, we should discuss it.

We are not nutritionists, doctors, physical trainers or anything in between. But we do believe in staying healthy and active. And just as with financial planning, we think accountability is a big part of success. Accountability comes at a cost. Healthy, organic and all-natural foods come at a cost, and gym memberships come at a cost. These costs are probably one of the top reasons people do not get as healthy as they can. Let’s look at them.

Gym Memberships

Yes, these are not cheap and some are much more expensive than others. You can find a gym for about $25/month or gyms for hundreds a month (and everything in between). When making this “investment” decision you have to determine what you need and what you will use. I recently joined a Crossfit gym which is not cheap. But because it is a class setting, I get added accountability, and because it's not cheap I would feel guilty not going often. My “perceived value” from this investment is the motivation and accountability. Plus it's the best and most challenging workout I have ever done in my life (ask me about it sometime).

While cheap memberships cost you less, it's also easier to justify “losing” that money. You don’t feel as bad not using your membership. But if you were paying $150/month for your membership, you may actually go. The same can be said for hiring a trainer. Sure, they are expensive, but you will most likely show up for your appointment. You are paying for the accountability and the higher likelihood you will actually stay motivated and bust your butt at the gym. In the long run, you may just save more money by being healthier because you actually went to the gym you were paying for.

Healthy Food

First, there are programs like Weight Watchers, Jenny Craig, etc. I honestly don’t know much about them, but I do know you are (just like above) paying for accountability. What I do know is that eating organic and natural food tends to be more expensive. Just one trip to Whole Foods proves this fairly easily. But I would argue that if you invest a little time going to local farmers markets, a little time packing your lunch and a little more time eating at home more often than our at restaurants, your net costs may be pretty close to your current grocery and restaurant expenses. Even if you are spending a little more money, you are investing in your health by eating “cleaner” healthier foods.

I believe part of achieving financial success is pushing yourself to step out of your comfort zone. The same can be said for getting healthy. You are capable of more things than you usually realize. Get healthy and get fit. You may save a lot of money in the future. Can you really put a price on your own health?

Matthew B. Brock, CFP®
Senior Partner, Owner
Divergent Planning, LLC

www.divergentplanning.com 

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