Money, Relationships, and Health
Last week, I had the opportunity to take a much-needed vacation with my wife. Having not left our city in several months, it was refreshing be out in nature (that was not our back-patio) for an extended period of time. This gave me time to think about things outside of my daily to-do list and weekly meetings. So rather than sharing a technical piece on a specific financial topic, I thought I would share some thoughts I had while away—specifically, the importance of investing in those non-monetary aspects of retirement planning—relationships and health.
It's very easy to get caught up in the grind of building a career or a business, especially today where unforeseen obstacles force us to pivot or adapt quickly, keeping us constantly on our toes. We hustle day-in and day-out, working diligently to provide for the future of ourselves, our family, and our community, hoping to achieve "financial independence" someday. While the pursuit of financial goals in itself is not a bad thing, it sometimes comes at the price of other, equally important aspects of a fruitful life.
Relationships
During my initial meeting(s) with clients and prospects, easily the most recurring priority I hear is the importance of family, friends, and community. Of course, everyone likes the idea of having a lake house, or a boat, or the ability to travel, but the underlying theme and the real desire, is to spend quality time with loved ones. When I ask the more difficult questions about mortality, such as, “What would you do if you only had 5 years left to live?”, the number one answer is almost always “Spend more time with my family.” This understandably common answer shows the importance of relationships in an individual’s pursuit of personal fulfillment. So why would we then sacrifice those relationships in the pursuit of a monetary goal?
In many cases, loved ones have taken the backseat to a career or business endeavor. Many people spend the early years of their career climbing the corporate ladder or building a business, in the pursuit of achieving financial independence or a lasting legacy; but if, in doing so, personal relationships have been damaged, then what was it all for?
In no way am I downplaying the importance of hard work or diligence, because those things are important and necessary for a successful career. I also believe that in most cases, the pursuit of these monetary goals come from the best of intentions—to build a better life for the family. However, an equally important part of building a better life for the family includes the growth and depth of relationships with one-another. The importance of money is quickly diminished if we don’t also invest time and energy into the lives of the people we love.
Health
While the average lifespan has increased over the past several decades, the average “healthspan” has not. That is to say, the number of years we are alive and healthy is diminishing due to the increased rate of chronic illnesses that prevent people from fully enjoying life. While some of these conditions are driven by factors outside of our control, much of them can be mitigated through a healthy lifestyle (sleep, nutrition, exercise, stress management, etc.).
However, when we’re in the middle of our careers, working late nights and weekends, these things typically fall by the wayside (understandably). I’ve experienced this firsthand when I worked in public accounting; busy season required many late nights that resulted in significantly reduced sleep, little-to-no exercise, added stress, and poor nutrition choices. The truth is, our bodies were not wired to operate in this way and the result is most likely a reduced healthspan.
I could write on this topic for hours because it’s something I’m very passionate about, but all that is to say, we often grind through years of late nights for the ultimate pursuit of a more lucrative lifestyle, but if in doing so, we’ve taken years away from our ability to truly enjoy the fruits of our labor, then was it really worth it?
Money, Relationships, and Health: Find the Balance
Therefore, I would argue that the growth of personal relationships and health (both physical and mental) should be discussed in congruence with the growth of personal wealth. Any one of these attributes (money, relationship, and health), without a healthy balance of the others, diminishes the ability to truly thrive. Of course, that's easier said than done. It's difficult to find the balance between building wealth, growing relationships, and maintaining physical and mental health; and it may look different for everyone. But I thinking finding the intersection between these three things is critically important for a fulfilled life.
I believe it requires rest, relaxation, and deep self-reflection to figure out what that looks like for each of us. So in the midst of the chaos, take some time to breath, rest, and reflect. I think you'll find this intentional time both fruitful and invigorating.