Professional Documents
Culture Documents
Health and
Wealth
Barbara O’Neill, Ph.D., CFP
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How is
Your
Wellness
& Quality
of Life?
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Class Content
1. Discuss relationships between health & wealth
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Overall Class Goal:
Empowerment
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Health & Human Services (HHS)
Press Release, March 2004
“Consumers don’t need to go to extremes-- such as joining a gym
or taking part in the latest diet plan-- to make improvements in
their health. But they do need to get active and eat healthier.”
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Health and Finance “Issues”
Similarities
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More Similarities
Health and Finance “Issues”
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Still More Similarities
Health and Finance “Issues”
9. Lack of limits causes problems
10. Restrictions help avoid problems
11. Drastic solutions have major drawbacks
12. Good health and wealth are related to:
Higher productivity, fewer work absences
Lower medical expenses to erode wealth
Live long enough to collect Social Security benefit
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Still More Similarities...
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…And More Similarities
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Overeating: An “Issue” for Many
1. Many Americans overeat for their activity level
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Overspending:
Another Common “Issue”
• Increasing household debt balances
• “Perma-debt”
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Save the Money Spent on
Unhealthy Behaviors
• Give up smoking
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Just One Example
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1. Convert Calories & Spending
Into Labor
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Case Example: French Fries
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Today's 6.9-Ounce Portion of French
Fries Has 610 Calories
• This is 400 more calories than a 2.4 oz portion
20 years ago.
• Now guess how long you will have to walk
leisurely in order to burn those extra calories?*
• 1 hour 10 minutes
2 hours 20 minutes
3 hours
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To Burn the French Fries,
Walk 1 Hour & 10 Minutes
• If you walk leisurely for 1 hour and 10
minutes you will burn approximately 400
calories.*
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2. Meet Yourself Halfway…
Or You Will Feel Deprived
• Health: Decrease portion sizes of favorite foods by
1/3 to 1/2 and/or increase exercise
Eat half as much as you do now…gradually
Take leftovers from restaurant meals home
• Finances: Reduce discretionary spending by 1/3 to
1/2 and/or increase income
Spend less than you do now
Look for less expensive options
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“The Latte Factor” (David Bach)
• It’s not just about giving up pricey coffee
• It’s about “finding” money to save by reducing
everyday expenses
• What are your “lattes”?
_______________
_______________
_______________
_______________
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3. Downsize and Substitute
• Health: “Just eat less” (than you do now)
Buy less food
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Change in Soft Drink Consumption
• In 1994 a 6.5 oz Coca Cola was
79 calories
Source: U.S News & World Report, August 19, 2002, Vol.133, No. 7.
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5. Track Your Current Habits
(Exercise, Eating, & Spending)
• Use a pedometer:
To determine current number of steps- then build up gradually
• Finances:
Consumer debt-to-income ratio < 20%
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7. Learn the Standards For Health and
Financial Advice
• Health: Compare portion sizes to objects
3 oz of meat or fish = size of deck of cards
1 cup of rice or pasta = size of a tennis ball
Weekly fitness guidelines:
30 minutes of daily exercise for adults;
60 minutes daily for youth
• Finances: Follow guidelines for saving
Emergency fund of 3 to 6 months expenses
Retirement income of at least 70% to 80% of
pre-retirement amount
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8. Put Good Habits On “Automatic Pilot”
• Health: Routine health screenings, nutritional
shakes and “points” programs for weight loss, short
programmed workouts (e.g., Curves)
Do both
Do both
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10. Small Remedies Make a Difference
• Many people believe they must make major
lifestyle changes to be healthy and wealthy
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Examples of Small Remedies
• Health: Finances:
• Save $1/day + pocket change,
Use less butter or
• Add $1/day to the minimum
salad dressing,
payment due on a credit card,
drink less soda, • Save an extra 1% of pay in a 401(k)
plan,
cut portion sizes, • Buy an EE bond monthly for $25
share an entrée,
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Key Health and Wealth Factors
• Attitude
• Automation
• Awareness/knowledge
• Control
• Environment
• Goals
• Time
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Comments? Questions?
Experiences?
Be healthy,
wealthy, and
happy…always.
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For More Information
• www.smallstep.gov • www.rce.rutgers.edu/money2000
• www.YourDiseaseRisk. • www.investing.rutgers.edu
Harvard.edu • www.nefe.org/latesavers/
• www.Medlineplus.gov index.html
• www.asec.org
• www.eatright.org
• www.pueblo.gsa.gov
• www.healthypeople.gov
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