Posts Tagged ‘exercise’
Invest In Your Brain Health
Posted on: December 29, 2023
If you are like me, (I’m in my mid-50s), please take my message to heart: start investing in your brain health because doing so will pay huge dividends.
It’s in our 50’s when our cognitive ability usually begins to decline. If we don’t intervene, this decline will only accelerate as we age. One consequence of cognitive decline is that we become prone to making stupid financial mistakes that can cost us a lot of money! I have seen this happen with my clients, my clients’ parents, and even my own parents. The total amount lost is in the millions. The parents of one of my clients lost their entire life savings to scams. They lost half ten years ago to an email scam. One would have thought they had learned their lesson. No, just this year, they lost the remainder to a telephone scam.
Luckily, this decline is not inevitable. Our brain is like our other muscles, the more we exercise it, the more we maintain, even build up, its strength and power. Here are a few things I have done in the last few years to exercise my brain:
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Healthy Lifestyle
Longer life spans, rising medical costs, declining retiree medical coverage, and Medicare and Medicaid insolvency all add up to making health care costs a serious challenge for folks preparing for retirement.
According to Fidelity research, a couple retiring today at age 65 will need current savings of $200k to supplement Medicare and pay for out-of-pocket health care costs in retirement. In another five years time, the number could balloon to $275k. And that’s before we talk about long-term care.
The Investment Scientist 