Health & Wealth

I’m not sure how much training is now given to students in Med school on how to give patients dietary advice.  But I know historically they have been taught how to diagnose illnesses and how to prescribe and utilise drugs to treat those illnesses.  There was little mention about dietary choices or the importance of diet in not only treating an illness, but in promoting health.  We see the consequence of that in society today.

I am sure how much training is given to students in commerce on how to manage money and how to advise professionally on the fundamentals of financial security.  Nil.  Again – the consequences are there for all to see.

Health and finance are fundamental to longevity and lifestyle.  Eating the wrong food will lead to advanced signs of aging as well as the onset and exacerbation of chronic illness.

Managing money poorly will lead to stress, anxiety, failed relationships as well as adding to the exacerbation of chronic illness.

Information, experience and evidence from holistic physicians has clearly shown that better food choices lead to an enhanced immune system and an overall improvement in one’s health.  Refined food contains little or no healthful nutrients and the food industry has aggressively promoted the use of refined foods since they are inexpensive to manufacture and have a long shelf life.  Obesity is over 25% in NZ today.  Chronic levels of anti-depressant medication prevail.

Experience and evidence from 40 years in the financial services industry has clearly shown that relationships and ongoing advice are superior to transactions and product for financial well being.  Banks, insurance companies, fund managers and finance companies provide little or no advice and they continue to aggressively promote their particular ‘refined’ product since they are inexpensive to market as a commodity and they experience a long and profitable shelf life.  The average New Zealander spends 110% of income.  High suicide rate.  A high percentage of ill health sufferers point to financial issues as their major stressor (61%).

Bear in mind I’m not of the opinion that government is the sole cause and can therefore provide the silver antidote or magic solution.  People understand that nutrition affects health and spending affects net worth.  But Western governments cannot help themselves when it comes to capturing votes.  Fiscal expenditure is vital to re-election and the pragmatism of politicians whom seek or re-seek power and prestige will continue to expand both health and welfare expenditure.  The departments really should be referred to as the ministries of sickness and the disaffected.

Medical professionals will continue to prosper from the subsidies government provides and the reimbursements and incentives drug companies proffer.  Banks, fund managers and insurers will continue to prosper from both the restrictions government legislate and the opportunity that free market capitalism provides – with access to credit, bank lending capacities and bail outs for failed governance.

So, do we blame capitalism itself.  A system of economic and social freedom, incentive for profit and the division of labour.  If we look at the likely ideologies of the major parties they may espouse differing principles but fundamentally they are centrist in New Zealand.  National being more conservative than liberal when it comes to how we should live our lives and Labour being more constrained than free market when it comes to how we should spend in our lives.

So there lies the conundrum.  Do we accept the necessity for a well meaning and controlling environment of centrist planners, telling us what to do and how we must live our life.  (It’s called big government).  Or do we take personal responsibility but understand that better short term benefits might not lead to better long term outcomes for us personally or our society as a whole.

Whilst I think capitalism and a democratically elected government is far superior to the alternative – (ask all the immigrants) we’ve got some growing up to do when it comes to questioning and accepting the health and finance industries as providing us with best practice.  We don’t need the government to tell us what to eat or spend – capitalism allows us to succeed or to fail with either or both.

For that we should be eternally grateful – but aware and mindful.

The information provided in this blog is not intended to be a substitute for professional advice. You may seek appropriate personalised financial advice from a qualified professional to suit your individual circumstances.