Health is Wealth: Why Taking Care of Yourself is Essential to Wealth

Want to build wealth? It helps if you’re taking care of yourself.

“How is health related to wealth? It’s simple. Wealth is as much a function of health as anything. It takes time and energy to create great wealth. If you look at the Forbes list of wealthiest people, you will notice one thing: there are a lot of senior citizens on the list. Being healthy not only allows people to use the power of compounding over time, it also gives entrepreneurs the energy to create, grow and sustain...There is no better way to increase your energy and productivity than taking great care of your health.”

This is an excerpt from Wealth Can’t Wait by David Osborn and Paul Morris. I couldn't have said it any better. The above statement captures my entire sentiment about health and wealth. However, let's take a deep dive and discuss how and why wealth and health are so closely integrated.

Why is good health essential to building wealth?

Before we go any further, let us ask ourselves why we want good health and wealth. I’ll start with myself; I want to live long enough to usher my children into their adult lives and everything in between. I’ll love to spend time with my grandkids just like my parents have and pass on valuable knowledge and life skills to them. I’d like to believe my parents have laid a foundation for us. It is my mission to further continue that journey and build upon it and create generational wealth for my family. To do that, we have to prioritize our health and give ourselves a fighting chance at living a long and enjoyable life. In the same way, you also must figure out your “why”. That's your motivation for taking the very necessary steps to a healthier life.

Now that we have established why, we can explore some of the pieces necessary to achieve great health that will enable you to pursue the wealth you desire.

Exercise and Diet

We’ve all heard this for years: eating well and moving your body are always beneficial. It's well documented that as we get older our metabolism slows down. As a result, we physically see and feel the transformation of our bodies and minds. But did you know that exercising regularly can increase your lifespan by keeping your DNA healthy and young, according to an excerpt from Time Magazine? Even with our busy schedules, we have to take more time to eat better and exercise more. I'm not here advocating that we all become professional athletes, but we do have a responsibility to ourselves, and our future, to keep our bodies, and minds as fit as we can. With enough effort dedicated to exercise it's only right that you watch your diet. I'm not a nutritionist or a doctor, but we all know that certain foods are unhealthy and we need to watch our intake of those foods to maintain a healthy lifestyle. As they say, an apple a day does keep the doctor away.

Health and wellness checks

According to NPR, the US spends almost three times more on healthcare than any other country in the world, but ranks last in life expectancy among the 12 wealthiest industrialized countries.

One of my business partners, Raphael Saye, swears by the philosophy that prevention is better than cure. He doesn’t just apply that to his health but to everything he does in life. This is precisely why regular yearly visits to the doctor are necessary: it's preventative maintenance. If you wait until you’re sick or in distress, you’re in trouble. It can be quite costly financially and other times fatal. If you’re young, start this practice now. My wife is an internal medicine physician, she always says her job is similar to your primary care physician in that they both rely on preventative medicine. They make sure everything is good and on track before your body “unexpectedly” breaks down. Along with your regular or yearly doctor visits, make sure you engage in some wellness: massages, yoga, meditation, therapy, and relaxation. These are vital elements to not just your physical health, but your mental health as well. With the combination of both, you’re well on your way to having the necessary tools to build wealth.

Financial Health check

“Talking about money is not taboo; let’s encourage open communication and encourage financial behavior in our friends and loved ones that align with our personal goals.” — Vince Shorb

Money is a huge pain point for so many of us. No wonder we hate talking about money! A few reasons come to mind. Most conversations we have about money stem from a negative place or being forced to defend our spending habits. If we are to normalize the conversation and grow, we have to celebrate our wins with money. At the same time, we also have to get real about auditing and planning our financial health, so we rarely put ourselves in positions of a disadvantage when the conversations about money come up. Being aware of our income and expenses, our savings and investments also means that we seek the right advice when necessary. We want to be knowledgeable enough about our money so that we can live life now and accommodate the future. The goal is not to overwhelm yourself, as this is not an overnight task. It's a journey, one you want to be well-prepared for.

“So many people spend their health gaining wealth, and then have to spend their wealth to regain their health.” A.J Reb Matteri.

Always remember, life needs balance. Many times, we subject ourselves to societal pressures or trends such as “team no sleep”, “hustle until you die”, “Yolo — you only live once” and many more. While it is important to be ambitious and driven, it is important to remember your WHY, even if that reason is legacy-driven. No one will remember you for how hard you worked, but they will remember the impact you made on society. With that said, remember that money is a tool, so to better utilize it, you have to understand the systems built around it. Most wealthy people either are taught these “money rules” or figure them out at some point in their lives. They then utilize that knowledge and system to exponentially grow their wealth and pass it down to the next generation. They understand that building generational wealth is a journey that doesn’t necessarily have a final destination. Figure out the system you want to adopt, that is proven to build wealth and embrace it. Remember there are still fundamentals to building wealth. As you have to normalize conversations around money, most of that growth is tied to investments. Those investment vehicles are your systems. Whether your heroes are entrepreneurs like Bill Gates and Jeff Bezos who built companies and products the world came to depend on, or if you’re someone that looks up to investors like Grant Cardone that invest in real estate, they all figured out a system and doubled down on building massive wealth.

Environment & Tribe

To achieve health and wealth, two key components are your environment and the people you surround yourself with. There is a saying that goes; “you are the average of the 5 people you surround yourself with”. That quote really resonates with me. That’s why we formed a WhatsApp group called “Fitness and Fasting” with a few friends. Together we encourage each other to exercise often and eat well. We post pictures and videos of our daily workouts as well as articles about the various forms of diets and their benefits. We are not perfect, however, we consistently encourage and motivate each other to take action on our health goals. For instance, I set a goal to exercise 208 days out of 365 which breaks down to about 4 days a week.

With regards to my wealth goals, what started as a book club with a group of like-minded individuals has eventually transformed into a mastermind group. We keep each other accountable with our goals, monthly, quarterly, and yearly. We read books and discuss books together that will help us accomplish our goals and enrich our minds. What I like about this mastermind is that we didn’t start as a group of friends — most of us were strangers with common goals. Over time, our similarities and goals are propelling us to hold each other accountable for building generational wealth for our families and communities. In the same way, if you want to unlock your health and wealth journey, find your tribe and create the environment necessary to do so.

Did you know that wealthy men and women generally have eight to nine more years of “disability-free” life after age 50 than poor people do, according to a new study of English and American adults? With that in mind, let's make and keep our health as a top priority. It’s going to be a challenge but together we can. Little drops of water make a mighty ocean. Start small and form great habits that will go on to prolong your health, productivity, and ultimately your wealth. Good luck and feel free to share with us what you do to get a boost towards your health and wealth goals.