“Health is wealth” is a common saying these days.
In his book “Whealthspan: More Years, More Moments, More Money,” Scott Fulton, professor of longevity at the University of Virginia and the University of Delaware, dives deep into that concept.
“Everything meaningful in life requires constant investment, whether it’s family, faith, friendships, career, athletics, or health. They’re all built in response to sustained investment over time,” Fulton writes.
It’s a matter of balance, “not another diet and lifestyle prescription,” he told Yahoo Finance, though toward the end of the book you’ll find recipes for nut porridge, chewy granola and cabbage pancakes.
Here’s what Fulton had to say about managing finances and more for potentially longer life, edited for length and clarity:
Kerry Hannon: What is “whealth”?
I’m just playing with the words wealth and health to combine the two. Whealthspan is this fusion of wealth, health and longevity. That would be the trifecta.
Scott, you suggest that the biggest threats to our financial self-worth are not the stock market, politics, or recessions. Can you explain that?
The things that threaten our prosperity or our preservation of prosperity are medical bills and housing costs. The stock market goes up and down, but we know that every time it goes down, it goes through a recovery cycle. When we retire, it has a long-term impact on us, but it may be small compared to what we end up spending on our housing and healthcare costs. It’s easy to spend a hundred thousand dollars on someone who will need moderate additional care in later years.
Read more: This is what you should do with your pension savings when the markets are uncertain
And that impact of health care and housing on our economic security begins after 55, you write. Extensive?
They often follow each other. An example is a traditional couple — an older man and a younger woman as a partner, and he’s going to have his health issues before she does. They’re faced with the fact that he needs care in the form of assisted living — separate housing that goes beyond what can be provided at home. That couple is paying for two houses because his wife says, “I’m not ready to move into an assisted living community and I don’t want to give up my lifestyle.” That happens all the time. That’s when people start falling off the cliff financially.
Health is the ultimate wealth. (Photo by Scott Fulton) (Scott Fulton)
What and where are the so-called “gold zones” in the US?
These are places where people have a life expectancy of 90 years or more. There are over 60 such communities in the US. These represent millions of people who live happy, healthy, active lives. These gold zones are places where average Americans do something different in some way that results in a different outcome in their life expectancy. There is a more balanced approach to life that includes the mind, environment, nutrition, activity, and community elements. That results in better health and life expectancy. These people naturally find themselves in a more supportive community. They are likely to eat healthy foods. They are active in the course of their daily lives. It is not just one thing.
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Where are these zones located?
They’re spread across 22 states, from small towns to communities in big cities like New York and Los Angeles. They have access to the same food, water, and health care, yet they outlive our average life expectancy by more than 15 percent. An extra decade or two of healthy living may not sound like much at age 20, but for a 65-year-old, the chance to double our remaining years and fill them with remarkable moments is an unparalleled investment opportunity that deserves our attention.
Should living to be 100 years old be our goal?
I don’t think it’s a deliberate goal. Chronic chronological age is relatively abstract. You don’t get a medal for reaching 100. You might get recognition and a special birthday cake. It’s more what you do with the years that you have that ultimately matters. It’s creating special life experiences and great moments. It’s really those moments in life that we should measure.
Moments that grip and envelop us: The face of a child, excited by our return from a trip, or a room full of people we love and who love us. Athletes, exhilarated by new levels of achievement. These are feelings of connection, feelings that know no age.
How do we build a foundation of prosperity, health and longevity?
We can think of wealth as more than just dollars. Financial wealth gives us flexibility and more options. And everything about aging is about keeping options. The natural reality of aging is that options fall off the table. It happens. So the longer we can keep options on the table, the better.
Health is the ultimate wealth. Everyone knows the story of the billionaire who would trade all his money for one more year of health. Lifespan is really the vehicle. You need time. It’s about creating opportunities for more time, allowing the special moments in life to happen. Health allows you to create opportunities for more of those moments, whether it’s spending time with our grandchildren or walking into our 90s. We need to set ourselves up to make that happen.
What are “super seniors”?
In general, we’re talking about the growing number of people in their 80s and older. And not just that they’re in their 80s and older, but that they’re living normal, active, daily lives, doing all the normal things that they did in their 50s and 60s.
There are a lot of people in their 80s who aren’t necessarily trying to work 40 hours a week, but they’re absolutely still working multiple days or part days as part of their purpose. They enjoy it. That’s why they keep doing it. They may need or benefit from having the income, but they’re resisting the traditional view of, okay, it’s 65, it’s time to get out and retire and spend your time on the golf course and play bridge.
Super seniors tend to be more active. It doesn’t mean they can sprint 100 meters or something. It just means they live a normal life. There are a lot of people like them, so I use super seniors as great role models.
Finally, what are some characteristics of longevity?
Humility. Curiosity. Positivity. As long as I have that humble belief that I don’t know everything, I’m curious. Those two are the superpowers of aging.
If you don’t keep up with the times, you’re kind of skipped over and you stop looking. We need to keep our curiosity at a level where we can actually get the kind of return on new information and stay informed and have conversations with people around events, instead of complaining about whatever ailments or aches we’re feeling.
Early in my career, I was amazed to see world-class scientists ask seemingly innocent questions. Their curiosity seemed as intact as that of a young child, constantly curious about the world that is expanding before them. After working with hundreds of scientists, it is clear that lifelong curiosity is a superpower.
Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist and the author of 14 books, including “Staying in Control at 50+: How to Succeed in the New World of Work and “Never too old to get rich.” Follow her on X @kerryhannon.
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