We are all aware of the need to balance our financial portfolio so that, in times of difficulty or when disaster strikes (stock market crashes, slips, etc.), we are affected as little as possible by financial challenges. Having a substantial bank account allows us many opportunities that people with less financial knowledge and preparation need for the ego.
You may be in a “comfortable” financial state, able to pay your bills and credit cards on time, and have enough disposable income to enjoy a good quality of life. Perhaps you enjoy an “extremely high” financial status, with endless “toys,” travel whenever and wherever you want, and other opportunities for the “good life.” Either way, you can handle sudden financial challenges and take advantage of financial opportunities as they come your way. Feels good, doesn’t it?
But what about your health wallet? When faced with challenges like a cold, flu season, children’s ear infections, etc. Do you just accept them as part of life? What happens when a disaster strikes in the form of a serious health problem for you or a member of your family? Is your health bank account equipped to fight back?
In the United States, the median age of disability (when quality of life becomes so poor that you need help with activities of daily living) is 65. Modern medicine is providing miracles to keep us alive longer, increasing our “shelf life”. But what about the quality of our lives? If we want to continue our “shelf life” along with our “shelf life”, it is imperative to raise the level of our health bank account and balance our health portfolio.
If you think the cost of health care has skyrocketed now, wait until most baby boomers reach “disability age.” Now is the time to take a serious look at your own health bank account and ask yourself “Do I have all the energy I need each day?”, “What is my ‘cushion’ in case of serious illness?” and “Do you need to balance my health portfolio?”