{"id":1125880,"date":"2019-07-10T17:59:26","date_gmt":"2019-07-10T17:59:26","guid":{"rendered":"https:\/\/dailyreckoning.com\/?p=107646"},"modified":"2019-07-10T17:59:26","modified_gmt":"2019-07-10T17:59:26","slug":"over-50-the-important-investment-you-need-to-make","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1125880","title":{"rendered":"Over 50? The Important Investment you NEED to Make\u2026"},"content":{"rendered":"<p>This post <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/over-50-the-important-investment-you-need-to-make\/\">Over 50? The Important Investment you NEED to Make&#8230;<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/\">Daily Reckoning<\/a>.<\/p>\n<p class=\"p1\"><span class=\"s1\">What do you call an investment that has no risk, requires little \u2014 if any \u2014 money to start, is available equally to the rich and poor, is proven to improve your career prospects\u2026<span class=\"Apple-converted-space\">\u00a0 <\/span>can generate hundreds of thousands of dollars in savings over a lifetime? <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">I call it good health.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Although you might view spending on your health as a necessary expense, I\u2019d argue it\u2019s an investment that will pay back dividends. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Health is one of the least talked about financial topics but arguably the most important.\u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Without good health, it doesn\u2019t matter how much money you have in the bank because you won\u2019t ever be able to enjoy it if you\u2019re always sick. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to <i>The Wall Street Journal<\/i>, the average individual will rack up $220,000 worth of health expenses in retirement. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It should come as no surprise, but getting old is not cheap. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">There are, however, proven things you can do today that will help decrease your health costs tomorrow. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">For instance, one study from the Johns Hopkins Bloomberg School of Public Health found that weight loss at any age leads to cost savings. The study found it costs people more when they\u2019re overweight \u2013 especially as they age.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to the study:<\/span><\/p>\n<ul class=\"ul1\">\n<li class=\"li1\"><span class=\"s1\">A 20-year-old adult who goes from obese to overweight would save an average of $17,655 in direct medical costs and productivity losses over their lifetime. If that person went from obese to a healthy weight, the savings would jump to $28,020.<\/span><\/li>\n<\/ul>\n<ul class=\"ul1\">\n<li class=\"li1\"><span class=\"s1\">If a 40-year-old adult goes from being obese to overweight, that person potentially can save an average of $18,262. If that person improves their health from obese to a healthy weight, an average savings of $31,447 in direct medical costs and productivity losses can follow.<\/span><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">Cost savings peak at age 50, according to the study. At 50, you save an average of $36,278. The study concluded by saying that at nearly any age there can be a cost savings if you improve your weight. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Aside from losing weight, what other aspects of your health can be improved to help your bank account? <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">I\u2019ve identified three key areas you should focus on. Here they are&#8230;<\/span><\/p>\n<h2 class=\"p5\"><span class=\"s1\"><b>#1 Start Eating Healthy<\/b><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Harvard estimates it costs an extra $1.50 to eat healthy per day.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">That\u2019s an extra $550 per year. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The benefits of eating healthy are: reduced inflammation, a strong immune system to help fight off diseases and infection, lower Body Mass Index (BMI), which drastically reduces risks for Type 2 diabetes, heart disease, and fatty liver disease.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Actually, Type 2 diabetes is one of the most preventable diseases. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Type 1 is genetic and you\u2019re typically diagnosed as a child or teenager. But Type 2 diabetes is heavily influenced by your lifestyle. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">An estimated 30.3 million Americans have Type 2 diabetes. And it\u2019s estimated that you spend 2.3x more on health care than someone without diabetes. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to the CDC, the average cost of medical expenses for people with diagnosed diabetes is about $13,700 per year.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Let\u2019s imagine you live with Type 2 diabetes for 30 years. From age 40 to age 70.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Without inflation, that\u2019s $411,000 just to take care of your diabetes. And that doesn\u2019t account for other health issues that will inevitably arise due to the stress placed on your body. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Now contrast that to spending an extra $1.50 per day on food and it\u2019s a no brainer. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Eating healthy doesn\u2019t have to be complicated either. There are plenty of proven healthy diets that work like the Mediterranean Diet and the Blue Zone Diet. <\/span><\/p>\n<h2 class=\"p5\"><span class=\"s1\"><b>#2 Exercise More <\/b><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Consider going on a \u201ccar diet.\u201d <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Look for opportunities to drive less. Walk, bike, take city transit. These will all save you money while incorporating some exercise. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Getting in quality exercise should not cost you very much. Forget about buying expensive running shoes, home exercise equipment, or boutique gym memberships. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The biggest investment will be your time. But even that shouldn\u2019t cost you a lot. The CDC recommends 30 minutes of moderate activity, 5 days a week, for adults. The American Heart Association and the World Health Organization agree. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Where can you find 30 minutes in your day?<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Go for a morning walk before you start your day. Walk at lunch to clear your head. The outdoors are free. Take advantage. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">By eating healthy and exercising more, you\u2019re investing in your long-term health. But another benefit to exercise and a healthy diet is it decreases the frequency you will get sick. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">By not getting sick as often, you don\u2019t have to miss work, using up sick days or unpaid days if you\u2019re out. You\u2019ll have more energy to take care of your grandkids, and you lower your medical bills like prescriptions and over-the-counter drugs. <\/span><\/p>\n<h2 class=\"p5\"><span class=\"s1\"><b>#3 Eliminate Your Vices<\/b><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">This should go without saying but I\u2019ll repeat it. You must eliminate any unhealthy habits that are costing you health and money. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">An obvious culprit is cigarettes. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If you smoke, you\u2019re literally burning money and years off your life. According to the CDC, the average cost of a pack of cigarettes is $6.28, which means a pack-a-day habit sets you back $188 per month or $2,292 per year. Ten years of smoking comes with a $22,920 price tag.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Another prime target are sugary drinks like Coca-Cola and calorie-loaded Starbucks drinks. Not only is it cheaper to drink water or regular coffee, you\u2019ll be less likely to develop diabetes and other health-related issues. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">By no means is quitting smoking or sugary beverages easy. But you need to try different approaches and figure out what works because you can\u2019t keep hurting this up. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Your health should be part of your investment portfolio if it\u2019s already not. It doesn\u2019t matter if you\u2019re conservative, modest, or you\u2019re aggressive in your approach, what matters is you prioritize your health so you can live a truly wealthy life.<\/span><\/p>\n<p>To a richer life,<\/p>\n<p><img decoding=\"async\" class=\"align-none\" src=\"https:\/\/duip7hn7nchpo.cloudfront.net\/signature-nilus-mattive.png\" alt=\"Nilus Mattive\" \/><\/p>\n<p>\u2014 Nilus Mattive<br \/>\nEditor, <i>The Rich Life Roadmap<\/i><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/over-50-the-important-investment-you-need-to-make\/\">Over 50? The Important Investment you NEED to Make&#8230;<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/\">Daily Reckoning<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/over-50-the-important-investment-you-need-to-make\/\">Over 50? The Important Investment you NEED to Make&hellip;<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/\">Daily Reckoning<\/a>.<\/p>\n<p>Why taking care of your health is the most important investment you can make, especially after the age of 50.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/over-50-the-important-investment-you-need-to-make\/\">Over 50? The Important Investment you NEED to Make&hellip;<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/dailyreckoning.com\/\">Daily Reckoning<\/a>.<\/p>\n","protected":false},"author":55,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[366,2038,2992,2993,2352,1674,1650,625,2699,2692,923],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1125880"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1125880"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1125880\/revisions"}],"predecessor-version":[{"id":1125881,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1125880\/revisions\/1125881"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1125880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1125880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1125880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}