Doctors have told us for years that regular exercise is an important part of a healthy lifestyle. Now researchers are putting a monetary value on exercise. And it turns out getting into shape could save you big bucks. Money is a great motivator, and that’s why researchers recently decided to look into the finances of exercise to see how much not exercising can cost us. The high cost of being a couch potato is next on MoneyWise Live.
Q. How much does being a lazy bones cost? A. Researchers analyzed more than 26,000 men and women participated in the something called the Medical Expenditure Panel Survey and they determined that not exercising can cost you $2,500 a year.
Rob discusses these questions about finances and fitness:
- How exactly does not exercising cost money?
- It puts you at much greater risk for developing cardiovascular disease.
- So where does that $2,500 go? Costlier insurance coverage, prescriptions, doctor visits, hospitalizations, medical devices and other out-of-pocket spending.
- We know people who don’t exercise but they certainly aren’t paying an extra $200 a month because of it? You wouldn’t pay anything extra for a long time so you don’t think there are any additional costs associated with not exercising. Maybe that goes on for years and years. Then, wham.
- How do we stack up to other nations?
- OK, so how much exercise? Are we talking Tour de France, hiking the Appalachian Trail, what?
- How exactly does exercise lower our risk for developing heart disease?
- Are there any other reasons to keep fit?
Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:
- If you're 66 years old and have about $50,000 left from severance, what should you do to invest this money?
- If you're just recently discovered you have a pension with with a balance of $50,000 that has pay out options of single life annuity, 5 year certain, 10 year certain and 15 year certain or lump sum, what option should you take?
- If you're 46 and got nervous in the market downturn of 2008 and pulled your money out of investment funds and never reinvested it, are things too late to move the money back into the market?
- If you're 48 years old and wondering about life insurance, how do you know how to size the policy for special needs beneficiaries and what's the age to start?
- If you're behind in retirement planning and will probably work for a larger portion of your life, how should you manage your money for the most retirement savings as possible?
- If your daughter just received a $160,000 settlement from a auto accident and needs to invest it, what type of planning should she do?
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