In this week’s Tuesday Tip video, discover why your financial plan should support your physical and emotional health. Please watch the video below, or read the transcript that follows, to learn more.
Hi, I’m Phil Weiss, founder of Apprise Wealth Management.
If you’ve been part of this community for a while, you’ve probably heard me say that money isn’t just about numbers. It’s about life. It’s about aligning how you use your TEAM of Resources (that’s Time, Energy, Attention, and Money) with your values. Today, I want to discuss something we don’t always connect to financial planning—but we should: your health.
Your physical, emotional, and mental health are directly tied to your financial well-being. Let’s look at how these two parts of your life intersect—and why that matters for your future.
First, let’s look at the hidden financial costs associated with caregiving.
Most caregiving in this country is done by women. The role of women as caregivers represents one of the many challenges women face, which I discuss in a blog that can be found linked in the description of this video. It’s also one of the reasons that women face a motherhood penalty. If you’re unfamiliar with that term, you can read another blog I’ve linked to in the video description. Perhaps you’ve cared for a parent, spouse, or child with special needs. You’re not alone.
What many people don’t realize is the impact caregiving has on their finances. It can lead to:
- Lost income from cutting back or leaving a job
- Out-of-pocket expenses for medical needs
- Missed retirement contributions
When planning for your financial future, we must account for these realities—not just in dollars, but in the emotional weight they carry.
Second, consider Long-Term Care: Planning Before It’s a Crisis.
Here’s a tough truth: 70% of people turning 65 will need some form of long-term care. On average, women need such care for 3.7 years. In comparison, men need it for 2.2 years. But very few plan for it.
I hear some clients say, “I’ll deal with that later.” But later often comes too late.
Options like long-term care insurance, hybrid life insurance, or setting aside funds intentionally can make a huge difference for you and your loved ones.
Third, let’s discuss Health Savings Accounts, or HSAs, which represent a Hidden Gem for Health & Retirement
If you’re eligible for a Health Savings Account (HSA), it’s one of the most tax-advantaged tools out there:
- Contributions are tax-deductible
- Growth is tax-free
- Withdrawals for qualified medical expenses? Also tax-free
- Withdrawals also don’t need to be matched to the year the expense was incurred. They can be for qualified unreimbursed medical expenses incurred at any time after opening the HSA.
You can learn a lot more about HSAs by reading my blog: A Comprehensive Review of Health Savings Accounts (HSA) – 2024-2025 Update.
If you don’t need to use the funds right away, you can invest them and save for future medical costs—even in retirement.
Fourth, let’s consider how Stress and Financial Decision-Making can impact your mental health.
Stress—especially from big life changes like divorce, widowhood, or an empty nest—can cloud your judgment. It can make you freeze… or make impulsive decisions.
That’s why I always say: Life-centered planning comes first.
We don’t just build spreadsheets—we create space for what you’re feeling, what you’re facing, and what kind of life you want to live moving forward.
Fifth, remember that your Wellness IS a Financial Priority
At Apprise, we believe your plan should support not just a long life, but a good one. That means factoring in:
✔️ Preventative care
✔️ Flexibility for life’s health curveballs
✔️ Support systems that protect your emotional energy
👋If you’re facing a new beginning—or simply want your financial plan to reflect your whole life, including your health—I’d love to talk. You deserve a plan that supports your well-being, every step of the way.
📅 Click the link below to schedule a free introductory call. Let’s talk about what living well means to you.
👉 https://bit.ly/AWM_Free_Call
Until next time, be well, and take care of yourself, both financially and emotionally.
https://apprisewealth.com/news/overcoming-financial-challenges-women-face/
https://apprisewealth.com/news/the-motherhood-penalty/
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