Step Into a Stronger, Healthier Retirement

Welcome to Money Monday with Suze, a weekly newsletter designed to inspire your financial life and give you actionable insights from the World’s Personal Finance Expert. Like what you’re reading? Subscribe and share with your friends. Let’s dive in…

When the Transamerica Center for Retirement Studies recently surveyed middle-class Americans, health-related issues ranked high among the most cited retirement fears. Declining health that requires long-term care tied for the most front-of-mind fear, along with running out of savings in retirement. Both were mentioned by 4 out of 10 survey participants. The prospect of long-term care costs was also a Top 5 fear.

That makes perfect sense. Especially if you are already at an age where you have supported an older loved one who needed assistance. You know what can happen.

Now I could use that as an opening to discuss the importance of saving more for retirement (by potentially spending less today) so you can pay for any care needed in your later life. Indeed, that’s obviously my biggest piece of financial advice. But I want to talk to you about something entirely different, and something that doesn’t need to cost you a penny more in savings right now.

If you fear the cost of needing care in your older age, what are you doing today to arrive at that stage in the best possible health?

In the same TCRS survey, less than 60% of participants said they consistently eat healthy and exercise. Fewer than 50% said they avoid harmful substances such as cigarettes.

Now let me be clear: our health as we age is in part a lottery out of our control. There are many diseases—and accidents—that can come out of nowhere and change our lives.

But here’s what we all also know deep down: committing to healthy behaviors, or just reducing our unhealthy behaviors, is something we can do today that has two potential payoffs—we’re bound to feel better today, and it may help us maintain our health longer.

So here’s some non-financial retirement advice: start addressing this retirement fear by taking a walk in the park, or whatever is nearby, as often as possible. That’s doable, right?

Just 38% of respondents to the survey said they spend time in nature on a consistent basis. Hmm.. any chance you could make that part of your routine? Once a week is better than never. Twice a week or more is even better. The simple act of moving our bodies—just walking—helps our physical health, but can also be a major help in managing stress (this is something 6 in 10 participants say they aren’t currently doing). And the peace of nature—or even an urban park—is good for our nerves.

And yes, I am a big believer that this can help your retirement.

Fear is often fueled by stress. When you can better manage stress, you may find yourself in a more powerful mindset where you are better able to think about solutions and ways to reach your goals. Stress reduction is always a win, period. To the extent it also gives us the head space to take charge of ways to work past fears—that is a priceless win as well. That walk in the park may just be the start of being able to plot ways you can achieve a secure retirement.

Suze School Podcast: Serious Things to Think About

On Sunday's Suze School podcast, I ask you to think about the power of your words, specifically “can” and “can’t.” Then, I'll share what you need to think about with regards to Social Security and how to best secure your financial future. Listen and subscribe to Suze Orman's Women & Money (and everyone smart enough to listen) Podcast on your favorite streaming app.