Journal of Financial Planning: June 2019
Monetary Benefits of Good Health
I was positively surprised to see the article “Financial Implications of Our Client’s Health Habits,” in the March 2019 issue. I applaud Randy Gardner and Leslie Daff for recognizing the monetary benefits of good health. Just as there is a lot of information for public consumption on managing your finances and investments, the same is true for lifestyle, wellness, and good health.
To be successful, clients have to want to make a change, which is not a simple assumption. It is easier for clients to acquiesce to financial planning, since assets can be neatly controlled through brokerage, mutual, and separate accounts.
A proactive change in lifestyle will permeate everyday living and may impact clients’ social relationships by altering what a person eats and drinks, how they engage in an exercise regiment, and how they build an appropriate support network. It is clear that the financial planner should search for knowledgeable and experienced wellness professionals as qualified referrals for their clients.
—Ron Latz, CPA, DMM
Latz Wealth Care Corp.
New Rochelle, New York