Episode 081

Health is Wealth

Often, many talk about wealth and describe it as an abundance of financial assets or even physical possessions. Sure, those are valid ways to think of wealth, but they are more focused with the material world. Why not take a moment to be preoccupied with our well-being? To have an abundance of constant, and stable, physical, emotional, and social well-being. Health is wealth is another way of saying that our own health outclasses our material wealth. Besides, if we’re not in a good health, we’re in no state to enjoy our material wealth. So, recharge your batteries because soon you’ll realize continuing your way to wealth has a lot to do with your possessions on the inside.

Simple Ways to Remain at Your Best

                We are constantly being bombarded with what’s going on in the world. Most of it is nothing but craziness that makes many anxious or stressed. We go into rabbit holes reading article after article watching broadcast after broadcast and before we know it, we trap ourselves in negative spaces. Take a break. Go to your settings on your electronic devices and turn off notifications coming from news sites or news apps. If you’re worried about missing an important piece of information, chances are if it is all that important, you’re bound to find out anyway. If you feel this causes a void, try filling it with something you enjoy. Reading, walking, anything counts. Going on a social media cleanse is also helpful. We can all admit it’s difficult for most of us to do this so remember to start small. By the way, writing down your new goals can have a lasting impact on you. Once you’ve put them down to pen and paper, you’re able to revisit them. This increases your motivation and concentrates your efforts to achieve them. Combine this with a daily 10-minute meditation ritual and you’ve trapped yourself in a healthy loop of hyper focus. Forget sitting at your desk for long periods of time. Set a timer for 50 minutes and once the time has passed take a very quick short break.

Track Your Health Net Worth

                In the world of finance, the goal is to have more assets than liabilities. So, try thinking of what an asset for you could be. Getting proper sleep, staying active, reading, taking breaks from social media etc. You know what’s good for you, so try to maximize those very things. Do the same for your liabilities. Eating junk food, sitting around all day, overworking yourself etc. Just like we know what’s good for us we know what’s bad for us and the goal is to minimize those bad habits. Yes, people want to accumulate money and have nice cars, homes, and take nice trips. But remember, in order to enjoy and obtain what’s on the material front we need a strong base of well-being. Speaking with clients, especially those close to retirement, they often look to increase their quality of life by creating healthy experiences and not obtaining new material things. Remember, taking care of yourself will help you on your way to wealth. The faster you find the value in that, the better off you’ll be.

Notes:

In this episode, Luis talks about the following and more:

  • The traditional definition of wealth
  • Things you can do to reduce stress and increase health
  • Why being healthy is important to improving your personal finances
  • Taking inventory of your health net worth statement

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