How Your Finances Affect Your Well-Being

How Your Finances Affect Your Well-Being

People around the world are living longer through innovations and new technology in medicine, nutrition, design, and facilities to boost health but financial security is also vital for well-being.


Stable Finances for Sustainable Health

People are living longer in Canada. Add to that the fact that nearly 90 percent of Ontarians aged 55-plus want to stay in their own home as they age, according to a September 2021 Campaign Research poll.

To do so successfully, it is important to have enough financial stability to access resources that are essential to life. Financial literacy is an important tool and skill set that can make a difference. It encompasses everything from routine banking to making sound investments and paying household bills on time.

“Health and well-being are not only about the absence of disease. As a broader determinant of health, financial health is closely associated with physical and mental health,” said Bianca Stern, Executive Director of Health Innovations and Operations at the Baycrest-powered Centre for Aging + Brain Health Innovation (CABHI).  “Having the means for safe housing, nutritious food, social connection with others and access to health and social services can all impact quality of life.”

Key factors for your greater health security include financial knowledge and skills. These skills matter at all ages, whether to manage expenses, balance incomings and outgoings, save for the long term, invest to increase assets. Financial knowledge can help you plan your expenses in retirement so that life at 50+ is a time of physical and mental well-being, where you can enjoy life to the full.

Financial literacy is important because it equips older adults with the knowledge and skills they need to manage money effectively. It’s never too late to be financially literate. Unfortunately, older adults can become victims of scams or family members who take advantage of them. In some cases, a person who handled family finances dies, leaving a spouse who is unfamiliar with how to navigate investments and accounts in an ever-changing landscape of online banking tools.


Financial Security Is Part of Your Lifetime Care at The Aspen Tree at The Forestias Operated by Baycrest

Financial security is part of living the life you dreamed of as an older adult. That’s why The Aspen Tree’s “Lifetime Care” concept extends from activities for health and well-being to ideal nutrition at 50+ and health insurance of up to 40 million baht a year until the age of 99*, enhancing each day to give you a future free from worry.

This concept inspires The Aspen Tree at The Forestias, designed and developed with research leaders and Canada’s world-leading Baycrest Crest to meet every need of older adults. You can live in a multigeneration community in The Forestias with comprehensive health and care (Holistic Lifetime Care). Full facilities and the Health & Wellness program enhance your lifestyle with activities such as yoga, swimming, singing, playing music, meditation, outdoor activities, hydrotherapy, and much more to keep your body, mind, and brain in great shape.

The Aspen Tree at The Forestias also has a Health & Brain Center to safeguard your health and wellness. The center’s experts can delay the onset of dementia and provide care to overcome brain and memory problems. A team of healthcare specialists is on hand 24 hours a day to keep you safe and well in every aspect.

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*Insurance according to the company’s criteria.

PUBLISHED : 8 months ago

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