Our lives are full of “shoulds.”

“I should really eat healthier.”

“I should start waking up earlier.”

“I should watch less tv.”

Unfortunately, we never get around to a lot of these goals. Not because we don’t want to or because they’re not important, but because the list of healthy habits we could implement is much longer than the number of hours we have in the day to actually do them. We simply don’t have the time or energy to complete every “should” on our list.

As health concerns increase with age, these “shoulds” might revolve around exercise and eating habits. It seems like there’s always a healthier diet to start or a more consistent exercise routine to adopt.

Social isolation is another concern. A quarter of Americans over 65 live with a growing sense of disconnectedness, which can have significant health implications. So maybe your “should” is related to getting out of the house, trying a new activity, or meeting new people.

If you’re looking for an extra bit of motivation to go after the “shoulds” that have been floating around in your mind, know that it’s not just your physical and mental well-being that you’re taking back: it can be your financial health as well.

Research from Texas Tech University and the University of Missouri reports that people over age 60 tend to lose about 1% of their financial literacy per year, often without noticing. On top of that, seniors must learn to live on a fixed income, are often targeted for scams, and face higher medical costs that often accompany older age.

Managing finances becomes a difficult task as you age. But the overlap between improving physical, mental, and financial health means you can kill two—or even three—birds with one stone through sensible fitness and meaningful community.

Fitness

Getting regular exercise doesn’t just prevent injury; it also helps you avoid the financial burdens of worsening health.

Staying active and healthy will help you remain in the workforce longer if you are employed. Being fit also enables you to continue completing tasks around the house instead of hiring someone to mow the lawn or fix the gutters.

There are cognitive perks as well. Harvard Health reports that “the parts of the brain that control thinking and memory are larger in people who exercise than in people who don’t.”

Research on this subject isn’t based on powerlifters or marathon runners; the studies primarily looked at walking. You don’t have to be a professional athlete to reap the cognitive benefits of exercise.

Keeping your mind sharp through exercise means you can slow the decline in your financial literacy, helping you continue making educated and wise financial decisions for years to come.

There are plenty of cost-effective ways to exercise as a senior. This article by Well Fit Insider provides a list of the best exercises for seniors, many of which you can do at home with little to no equipment. YouTube is also full of free online workout classes you can do at home.

If you have a Medicare Advantage Plan, you may be able to enroll in the SilverSneakers program, which offers a free basic gym membership at participating locations. This article from U.S. News explains how it works.

Senior Centers and local parks often offer free or low-cost exercise classes. Looking for walking clubs in your area can be a way to stay active and find community, another important component of maintaining health and financial stability in old age.

Community

It’s important to have community that you can discuss your finances with as you age. Running purchases by a friendcan prevent unwise decisions and bring a helping hand if you are struggling financially.

As mentioned above, 25% of seniors struggle with isolation. This leaves many seniors handling their finances (and their life as a whole) all on their own.

Many older adults have difficulty asking for help. It comes from a very human desire to be independent. We don’t want to feel like a burden to our loved ones. But Galatians 6:2 says to “Carry each other’s burdens, and in this way you will fulfill the law of Christ.”

In the same way you have carried the burdens of your friends and family over the years, allowing others to serve you helps them do the work God has given them to do.

But using your community to improve your finances doesn’t necessarily mean asking for monetary support; it can be as simple as consulting a friend before you make a big purchase or discussing with someone else before engaging with a call or email that might be a scam.

These friendships can also help you make really good financial decisions instead of just preventing bad ones. If you have some extra funds, you could look at investing them in a reliable, safe stock to supplement a fixed income. You can ask for others’ advice on saving, investing, and spending. We’re at our best when we’re learning from others, and learning has no age limit.

In recent years, the idea of a “third place” has been strongly encouraged. A third place is a location you visit regularly outside of work and home. That doesn’t mean going to the grocery store or the doctor's office: think of coffee shops, libraries, parks, or the gym. Somewhere, people go to be social instead of just bouncing between work and home every day.

For many seniors, there isn’t even a “second place” anymore (that would be the workplace), which makes finding somewhere to socialize even more worthwhile. The good news is there’s no shortage of options.

My Healthy Grandparents has a list of social activities for seniors that ranges from dance classes to bird-watching groups. Your local senior center likely has its own lineup of clubs worth a look, too. Finding activities that require a lot of thinking, such as book or board game clubs, is another way to maintain cognitive function and support your financial decision-making.

Faith and Finance Perspective

As much as we desire to be independent, God created us to be in community with others. We are designed to rely on each other and on God. We are his children, even in old age. He will provide for us more than he provides for the birds of the air or the lilies of the field (Matthew 6). As you age, continue to step out in boldness by trying new things with the knowledge that you are cared for by the Creator of the universe.

“Let us hold fast the confession of our hope without wavering, for he who is promised is faithful. And let us consider how to stir up one another to love and good works, not neglecting to meet together, as is the habit of some, but encouraging one another, and all the more as you see the Day drawing near.”
– Hebrews 10:23-25