Retirement Savings and Your Physical Health: Is Your IRA Helping You Live Your Best Life?

Published on March 21, 2019

Did you know that your financial health may affect your physical well-being?

The BlackRock Global Investor Pulse survey is the world’s largest global study on the relationship between wealth and well-being. The latest one interviewed 27,000 respondents in 13 nations: the US and Canada; Germany, Italy, Switzerland and the UK; Brazil, and Mexico; and China, Hong Kong, Japan, Singapore and Taiwan.

Across genders, ages and income levels, one thing was clear: 69 percent of respondents reported that their financial health had a significant influence on their well-being. Of the 4,000 U.S. survey participants, 78 percent with a retirement savings plan reported an overall sense of well-being compared to 52 percent without one.

Of the respondents, only 56 percent had started to save for retirement and just 45 percent felt confident they would achieve their ideal lifestyle.

Despite the youngest age group, Millennials reported a higher level of worry about their finances than the others. However, 84 percent believed their financial futures would improve if they started investing.

Given that so many people associated saving for retirement with greater contentment, why is there still such a high level of non-participation in retirement savings plans? Many in the survey claimed they were too worried about their current financial situation, citing the high cost of living and health care costs.

Want to improve your financial health and personal outlook? A self-directed IRA can help.

The cost of living is not going to drop and health care costs will continue to rise—as will most consumer goods over our lifetimes. However, if the BlackRock study tells us anything, it’s that investing today for our futures will help improve our well-being both physically and financially.

For those who want to improve their financial health, investing in alternative assets through a self-directed IRA can help. A self-directed IRA—whether Traditional, Roth, or other—is a great way for individuals to take control of their futures with non-traditional investments they already know and understand. As you build retirement wealth, you’ll not only be improving your financial future, but quite possibly, your general outlook on life.

For savvy investors who are comfortable doing their own due diligence and making their own investment decisions, self-direction is a great way to build a more diverse retirement portfolio—one that you’ll feel good about.

Perhaps you are already making investments in real estate outside of your existing retirement plan. Or maybe you have enough cash saved to invest in a friend’s startup. These are just two examples of how you can use the funds in a self-directed IRA to invest in alternative assets. You can learn more by signing up for our monthly newsletter.

When you open an account with Next Generation, we execute the transactions for you, hold the assets, and provide client education and guidance regarding self-directed investing. We’re confident you’ll find our high level of service is something else that makes you feel good about saving for retirement through self-direction.

Have a question about self-directed retirement plans? Email Next Generation at NewAccounts@NextGenerationTrust.com or call us at 1.888.857.8058 for more information about how self-direction can improve your retirement plan’s outlook. Alternatively, you can register for a complimentary educational session with one of our representatives.