SG Budget Babe
Asked on 05 Dec 2019
Is it a blanket rule that health should always be prioritised over wealth? or are there scenarios when the opposite is the right way to go?
No amount of money can buy a healthy life.
The point of getting wealthy is to allow you and your loved ones live a comfortable and healthy life, but never compromise your personal health to achieve it. Or else you will not be able to enjoy/see the fruit of your hard work!
I would say that you would want to ensure you have health first.
With health, wealth can be made.
With wealth, you don't necessarily have the ability to buy health.
As Steve Jobs once said
“Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Almost everything--all external expectations, all pride, all fear of embarrassment or failure--these things just fall away in the face of death, leaving only what is truly important."
All the wealth in the world could not prolong his life.
I'd very much prefer to have my health and time here on this world to spend with my loved ones. I can always earn my wealth in time.
Health is always above wealth in any case. There are times where even myself, I lose sight and wealth is placed over health. But I thought about it - it makes no sense for me to build up my wealth, only to spend it all on health, which was caused by my chase for wealth.
I will prioritise health. Without good health, you cannot enjoy the various little experiences in life. If you have poor health, your wealth, which you earned with your hard work, will go to support your medical expense. Why be sick and spend money on health, when you can stay healthy and spend the money on more wonderful things in life?
I will value my health first. With health, I am free to do what I want, without it, I can't achieve my goals, especially if they require physical exertions.
Having interacted with billionaires and several wealthy people in my career, I have found that the most genuinely joyful people I have met tend not to be wealthy.
Of course, you don't want to be in a situation where the lack of wealth has a serious impact on your health.
To address the question on prioritising health over wealth, the key should be how to increase your earning power instead of increasing the number of hours you allocate to work.
For example, when you invest, you're hoping to earn passive income(through dividend income for example) even when you're asleep. When you have multiple income sources with the help of part-time or side jobs, you do earn more but keep in mind also the number of hours you put in and what is your overall earnings per hour when combined with your main job. One should always strive towards maximising $ earned per hour, not total number of hours worked. You should always look at how to increase your productivity and your employability, perhaps by upgrading yourselves through courses or attending seminars relevant to your field.
By doing so, you will naturally prioritise health(maintaining number of hours worked for health reasons) and wealth(increasing your earning power) at the same time.
Can't really enjoy wealth without health...
but if the set back in healthy is temporary and only minor, i guess I will choose wealth. For example, if I need to do overtime today, and i know its back for my health as I have not slept for 24 hours, I will probably still do the overtime if
its not often that i don't have enough sleep
its only temporary, i can catch up tomorrow
work is really important.
Guess what I am trying to say is, if its a temporary setback to health that I can recover fairly fast later, I will then proritise wealth in that sense.
Protect your health, accumulate your wealth! They work so differently like a paradox but comes full circle when you talk about life in essence.
Studies have shown that a person in better health experiences greater feelings of well-being, including feeling more fiancially secure. Now, I think that's something probably money can't always buy.
Health. You should always prioritise health when possible. I have a friend who's working almost overtime daily and on weekends to save for his marriage and BTO. He developed a lump, which thankfully was benign. The doctor attributed it to the stress. I do not want to think what would have happened if it was cancerous, but I am pretty sure everyone of us can imagine what would have happened...
The only scenario where wealth is more important than health is when you know your health is completely wrecked and there's no way you can get healthy / live a long life. Then sure, go ahead and rack up as much money as you can to pamper yourself for what's remaining of your life. Otherwise, 99.9% of the scenarios would prioritise health over wealth. Wealth is something you can generate or accumulate with time and/or hard work, or even buy (e.g. investment). But in order to afford the time, the energy to work hard and the ability to buy wealth (which is a function on energy x time), health is the foundation. A good health gives you the required energy to work hard and build your war chest, a good health ensures you live long enough for you to realise your savings and investments.
Health has higher priority over money. One of the main reason is because a porr health may result in a wealth drain trying to get treatment etc.
Surpisingly one important factor towards good health is happiness and laughter, which is one of the cheapest item to get in the world. This can be found in many people around us
It has to be health first. Especially when one hit past 30, health problems might start to trickle up.
The fundamentals is, with good health but no wealth, one can still be blessed and happy. On flipside, there's no way one will be happy about.