A dear friend recently shared a Ted Talk with me that I found to be particularly interesting and insightful. The topic:
What behaviors about a person will predict how long they will live?
The answers may surprise you!
This lecture gave the results of a study that a researcher at Brigham Young University recently conducted on tens of thousands of middle-aged adults. Ten “predictors” of a long life were measured and tabulated and I was really surprised to see that physical health issues did not come out on top.
As financial planners, our team at SRQ Wealth absolutely gets behind the medical profession in supporting a healthy lifestyle in retirement (less stress, weight control, exercise, etc.) and I have often taken the position that keeping healthy as one ages is one of the best ways to financially help ensure that a person’s retirement plan does not fail. And just in case “keeping healthy” is not always under our control in retirement, we do our best to help clients find ways to cover, or insure against, the cost of a long-term care event (in their lives or the lives of their loved ones) so that they can truly enjoy their wealth without worry.
But as this video indicates, taking that position doesn’t cover everything!
So while a healthy lifestyle is important, it seems that the two most important predictors of how long you will live are actually social:
- Do you have relationships with people you can call on in a crisis?
- How much you interact with other people as you go through your day?
At SRQ Wealth, we have always encouraged and planned for our clients to enjoy their lives to the fullest. Now it seems there is a scientific reason to do so! If a good social life is more important than good health in retirement, then that’s all the more reason to make sure you have a financial plan in place that can support this. It’s important your plan is up to date – and stays that way – before and during retirement.
If you are ready to update your financial plan to prepare for the long social life ahead of you, please give us a call.