When planning out your financial future, your health and overall wellbeing has to play a major role. Healthy living can help prevent more serious issues down the line, saving you both money and time.
HEALTHY LIVING HABITS
Taking steps in your life to help prevent illness. This means eating healthy foods, drinking water, taking vitamins, and staying active. The healthier you are, the less time you're likely to miss time from work or spending time at the doctor. If you're feeling stressed, make sure you're getting plenty of sleep and spending time being mindful. Stress can really do a number on your overall immune health.
How you will be handling your healthcare costs is a major part of planning for retirement. Many people assume that Medicare will just cover everything once they turn 65, but this is incorrect.
- Medicare does not cover the following:
- Long Term Care – this includes assisted living and nursing homes.
- Home Nursing – if someone comes to your home to help you, this is not covered
- Alternative Medicine – this includes treatments such as acupuncture, chiropractor, and homeopathy
- Routine Vision, Hearing, & Dental Care
- Plastic Surgery – Elective surgery is not covered, but there are a few exceptions
No matter how well we plan or healthy we live, things can still happen. This makes it so important to have a savings account that is specifically for emergencies, such as a health expense. This will help you with the costs without having to rely 100% on credit cards.
Hope for the best but plan for the worst. It's so important to have some sort of plan in case instead the worst comes to happen. If your employer offers healthcare benefits, take advantage of these while you are working. Choose the plan that is going to be the most beneficial to you and your family. Do your research and include healthcare into your budget planning.