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A Healthy Body Balanced with Financial Strength

Jean Chatzky signed a copy of her new book for me. The subtitle is catching- “Living Longer without Running out of Money or Breaking a Hip”. The book’s title is Age-Proof, by both Chatzky and Michael Roizen, MD. As the financial expert of the Today Show and the Chief Wellness Officer of the famed Cleveland Clinic, respectively, they offer advice to balance health and wealth for the long run. Here’s a capsule summary of some sound practices mentioned.

Health and wealth are a team; they are “shared endeavors”. And you are the CEO of your body and your bank account. One of your most important actions will be choosing those included in your financial team and how they will all communicate on your behalf. The same is true for your health providers – make sure all the participants connect with each other. In both cases, what matters most to YOU needs to be expressed, honored and upheld. They are there to assist YOU; neither group should have a one-size- fits-all mentality.

It’s a sound practice to organize your health and financial worlds so you can think clearly and sleep well. Doing this, granted, requires talking about two aspects of life that seem to be the most private. Trust is utmost. Confidants are valuable. But don’t NOT talk about them. There is always time to begin, catch up, take charge and make the most of a situation. The authors invite readers to overcome the doubt and fear that accompany money and health by moving towards frank discussions about those squirmy subjects. Getting clear about what matters most can help us avoid poor decisions since it’s all too easy to act on instant gratification vs. long-term security.

At W.R. Borton and Associates, we have long been proponents of “having the conversation”. The value of honest communication with your family about both health and finances can’t be underestimated. Before we help implement your plan, we want to be sure we are acting in your best interest according to what matters most to you. We encourage contemplative thought about your life as a whole. We also encourage you to select advisors that do the same.

We believe that working with a team of specialists is the best approach, as each aspect of financial or long-term care planning has a bearing on the wholeness of your finances. Implementation of insurance and annuities are best handled this way and with full participation and approval of your financial team.