What is the Longevity Effect?
The longevity effect is what happens when people with money outlive those without it. It's an extremely interesting aspect of society that has always intrigued researchers and health experts alike. The idea behind this concept is very simple, the more money you have, the better off your health will be.
This can include everything from better insurance to access to the best food and medical care, which means your chances of living longer are greatly improved. Those without money are at a major disadvantage in terms of health because they don't have an equal playing field when it comes to their well-being.
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Why does having more money improve your health?
There are many reasons why having access to money can improve one's health.
1. Money enables you to have a higher-quality diet.
2. It provides access to better healthcare which means catching diseases earlier and receiving the best preventative care possible.
3. Having money allows you to live in a safer area with less stress, pollution, and crime which all drastically affect your health.
4. Money can help reduce the effects of stress which is one of the biggest health risks in the world.
5. There's evidence to suggest that people with more money are likely to live longer because they have a greater sense of control over their lives, which positively affects mental health and happiness.
How can you use this to your advantage?
You have to think of money as any other resource, it needs to be managed and distributed effectively in order not to become a burden. Earning a lot of money is not enough, you have to learn how to manage it, or else your money will run out and you might not have enough to support yourself during retirement.
You have to think of money as any other resource, it needs to be managed and distributed effectively in order not to become a burden.
Here's how:
There are many reasons why having access to money can improve one's health.
How Mission Wealth Can Help
Having access to money can improve one's health because it provides higher-quality food, better healthcare, less stress, and a greater sense of control over one's life. You should create an emergency fund, plan your retirement, invest in different ventures and start saving as much as possible. Money should be enjoyed responsibly during your lifetime to make sure it lasts a lifetime.
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For over 20 years, Mission Wealth has offered holistic wealth management to high net worth families across the United States. Our fiduciary financial planners ensure that every piece of the puzzle is put into place as our clients’ lives unfold and their needs evolve. This gives them the complete picture and confidence in their future.
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