By Gail Cowling
Just like financial health, physical health is one of the keys to a happy retirement. My investment in my retirement is already paying off.
According to this year’s Sun Life Canadian Wellbeing Index, seven out of ten Canadians are not retiring when they want to, and the biggest reason for that is their health.
Ouch! I’ve been saving and investing since I was 21, and my retirement action plan is to work another ten years. But what if I got sick, had a severe illness, had a severe accident, or had a chronic disease that limits my ability to work and save? I am single, and no one will help me financially – I can only count on myself. I don’t want to spend my hard-earned retirement savings on home care and renovations to get around better or in a long-term care facility. I want to carve and canoe until I’m 70, 80, and beyond.
Earlier this year, my cousin told me that she had decided to take charge of her health. She was motivated by the fact that she had to move her mother, who is obese, and she could no longer move without someone’s help. She can no longer be cared for at home, so she now resides in a nursing home equipped with patient lifts. It got me thinking, and I felt that I was heading down a very unhealthy path if I didn’t take myself in hand. I come from a family whose members have a long life expectancy. So I could see many years in which I would have a dull and limited lifestyle unless I did something about it.
Motivated by my aunt’s situation and the wellness program offered by my employer, I decided, when I received my tax refund, that rather than depositing it in my RRSP as usual, I would invest differently for my retirement, giving priority to my health. So I signed up for a gym and purchased several sessions with a personal trainer.
