Health and wealth are both very important concerns as we age. As a wealth management firm here in Bloomington Normal, we are focused on the financial side of a successful retirement. And we are very good at planning for those needs and goals to ensure the safety of investments against a variety of threats. However, many people would argue that health is even more important than wealth in a person’s senior years and lack of planning in this area could derail a successful retirement plan.
These were the stern warnings of Dr. Robert Brown, Owner of Elite Chiropractic and Rehab. He is uniquely qualified to back up his warnings, as he is also a Certified Public Accountant (CPA). As a featured guest on Retirement & Financial Focus, Dr. Brown will explain how investing in health is critical to our financial success in retirement!
Every month, Krista McBeath hosts a new McLean County professional to share retirement and financial knowledge in a weekly question and answer segment and we are proud to feature Dr. Brown in our discussions on the topic “Which Is More Important, Health or Wealth?” Watch the video by clicking here!
We were extremely impressed with the careful consideration Dr. Brown gave to this common question and throughout the series, you'll see how he explains how closely integrated wellness is to ones finances. Although he is a former CPA, his ultimate career choice as a doctor shines true with his priorities as he provides this straight answer, “…both of them are extremely important. Obviously you cannot retire and live comfortably without some sort of income or wealth accumulation once you've reached the retirement years. However, what good is it to have an abundance of wealth if you are having an extremely poor quality of life? And so I'm going to advocate that you can have an abundance of both and that both are equally important. However, if I had to answer the question, which one is more important? I would give health a slight edge over wealth, because you cannot enjoy your wealth if you are extremely unhealthy and having a poor quality of life. What good is it to have a whole bunch of money sitting in the bank when you're not living a very good quality of life? You know you might have a million dollars saved in the bank, but you could waste it all on open heart surgeries, chemo, and radiation treatments and just live a very poor quality of life. And I'm going to tell you that no matter how much money you have, if you do not have your health, you are not going to enjoy your wealth.”
Please join us for next week’s segment and learn What is the Best Protection Against Costly Medical Expenses in Retirement?