Health and Wealth — They Go Hand in Hand in Retirement

Many of your retirement dreams likely depend on you remaining healthy. While there are certain scenarios outside of your control, implementing healthy daily habits can pay off in many ways when it comes to your future. 

We’ll stick to expertise in money management, but we agree with what the Mayo Clinic has to say about healthy aging: “Eating a variety of nutritious foods, practicing portion control and including physical activity in your daily routine can go a long way toward promoting healthy aging.” (1)

The article goes on to remind us there are no quick fixes and provides a gentle reminder that we shouldn’t waste our time with expensive therapies or products that promise to turn back time. So what are ways we can improve our daily routines to promote healthy aging into retirement?

HIKING IN DELWARE

Live Within Your Means

We believe good financial health can make a positive impact on your physical health. One component of remaining healthy, in a financial sense, is living within your means. The goal here, in terms of physical health, is to reduce stress. We all know too much stress can have negative effects on physical health and the enjoyment we get from our daily lives.

Unfortunately, this is an area in which many Americans struggle. A recent Capital One study found “73% of those surveyed consider finances a source of stress in their lives, even more so than politics (59%), work (49%) and family (46%).” (2)

Creating a financial plan for retirement that allows you to confidently cover your monthly expenses should be a top priority. Balancing all of the costs associated with retirement while trying to understand exactly what your fixed income will provide each month is not an easy task, leading many to turn to professional assistance. 

This is exactly where we start with pre-retirees pursuing financial independence in retirement. By reviewing your current financial picture and learning about your retirement lifestyle goals, we can work together to orchestrate a plan that allows you to check off as many boxes on your retirement bucket list as possible while living within your means. 

Find Hobbies That Keep You Active

With more time on your hands, taking up new hobbies is a great way to fill your time and ward off boredom. Just because a hobby keeps you active, doesn’t mean you have to break a sweat all day long.  A mix of activities you enjoy can help you stick with your dedication to healthy habits.

As you consider what hobbies you want to take up, try adding in a few that are free, so you can enjoy more activities throughout your week, without guilt. A great aspect of retiring in Delaware is all mother nature has to offer when it comes to entertainment. 

  • Camping

  • Golfing

  • Pickleball or Tennis

  • Water Sports — Sailing, paddleboarding, kayaking

  • Walking and Hiking — along the beach or through picturesque parks and gardens

All of these activities can help you get in your steps for the day and get your blood pumping. Other hobbies like learning to cook new dishes, gardening, or walking the dog show there are numerous ways to honor your health habits in retirement whether you’re an adventure seeker or you prefer to stick closer to home.

Know the Numbers

While monitoring your health isn’t a direct component of our retirement planning services, we're here to provide a bit of encouragement today to take a step towards improving your health. Whether it's your cholesterol, blood pressure, or the number on the scale — knowing the numbers beyond what's in your retirement account matters. 

Consider scheduling an annual physical or following up on any preventative screenings you may have pushed off. While you’re taking care of yourself, let us at Integrated Wealth Management help manage your money. We encourage you to come to us with all of your retirement and money management questions so you can gain a clear understanding of the numbers of the financial side of your life. 

At Integrated Wealth Management, we’re here to guide and steer you towards the retirement of your dreams, but you’re always in the driver's seat. If you’re ready to take the next step in knowing the numbers of retirement planning, schedule a meeting with an IWM advisor today. 

About Integrated Wealth Management

Integrated Wealth Management is owned by Burt Hutchinson, CPA, CFP®. We’re a CPA-led organization, meaning we’re here to handle your complex tax scenarios and provide cost-saving insight related to your financial plan.  

We’re here to guide you through the 3 stages of retirement:

  1. Uncertainty Stage: When you are within 10 years of retirement and have questions about how to make it work

  2. Stability Stage: When you have reached the financial milestone to retire comfortably and confidently

  3. Reflection Stage: When you are looking to leave a legacy

We are also here to provide experienced, empathetic support during times of loss, such as the death of a life partner. You need confidence and a sense of security to enjoy retirement. As fiduciaries with a fee-only structure, we never receive commissions. Free of ulterior motives, you can be sure we’re focused on your goals.

Continued Readings:

Sources: