Want to Get Rich? Get in Shape

I've talked about the relationship between money and health before -- in particular the fact that you can save a boatload of money simply by being healthy. But since it's the new year and people are thinking about both health and money, I thought I'd bring up the subject again. This time, Kiplinger's says that if you want to get rich you should get in shape. Their thoughts:

Studies show that healthy people miss fewer days of work and are more productive on the job, so they are more likely to get promoted or earn higher salaries. "Healthy people also tend to look better, and, like it or not, a good physical appearance pays in many ways, including higher incomes," say Dwight Lee and Richard McKenzie, authors of Getting Rich in America: Eight Simple Rules for Building a Fortune and a Satisfying Life. Healthy people may choose to stay in the workforce longer, building up even greater savings and earning more interest on their money over the long term. Plus, research shows that the healthier you are, the happier you are, which has been tied to higher income.

They also detail the flip side of this equation -- unhealthy habits can cost you a bundle:

For example, let's say a pack of cigarettes costs about $4. If a 25-year-old kicks a pack-a-day habit and invests the money saved each month for 40 years earning an 8% average annual return, he could have more than $428,000 saved by the time he turned 65 -- not to mention he'll increase his chances of living to age 65 and will likely spend less money on health care.

The piece then offers five strategies to get you on the path to achieving both your financial and physical New Year's resolutions:

1. Start small.

2. Put your goals on autopilot.

3. Pace yourself.

4. Avoid quick fixes.

5. Check your progress regularly.

Good advice in my opinion. Not only do I have annual financial goals, but I also set yearly physical fitness goals that include exercise and healthy eating. The former are really not hard for me to hit since I am a cyclist and ride my bike around 1,500 miles a year. The latter are a bit more difficult for me. It's harder to put down the Moose Tracks ice cream than it is to pick up the bike. That said, the two do go hand-in-hand -- the more you bike, the more you can eat more of the "bad" stuff that tastes so "good." ;-)

Comments

[Big Cheese]

1500 miles a year is about 5 miles a day. Or ride a century every 3 weeks. Seems reasonable to me.

-Big Cheese.

[FMF]

I usually ride 20 miles at a time. Cycling season is April-October here, so I ride those months, then go indoors on the treadmill the other months.