Social wellness refers to the relationships you have and how you interact with others. It involves building and maintaining positive, supportive relationships and fostering meaningful connections.

If you prioritize becoming socially well, you will enjoy less stress, a more robust immune system, and a healthy heart and endocrine system. How social wellness relates to financial planning, and what can you do to improve it?

Social Wellness and Financial Planning

Time after time, studies prove that people with supportive, healthy relationships live longer than those who lack them. This possibility means you may need to save more for retirement to help ensure you do not run out of savings. 

If you are behind on saving for retirement or have not saved as much as planned, change your budget and lifestyle to increase your 401(k), Roth IRA, or other retirement account contributions.

There are many ways you can improve your social wellness, including:

Connect with Others– Look for ways to become involved with others. Joining a fitness center, start/join a book club or participating in community events is one way to make connections. Developing solid relationships with family, friends, neighbors and others provides ongoing social connectivity and wellness.

Practice Self Care

While you care for others in your life, don’t forget to care for yourself. Engage in regular physical activity, eat healthy, keep stress levels to a minimum, and participate in hobbies you enjoy. You will find it is easier to support others when you are in a good place both physically and emotionally. 

Show Appreciation

Let the important people in your life know just how much they mean to you by texting messages, sending cards with meaningful messages, small gifts, and other friendly gestures to help strengthen your relationships. You do not need to spend money to show appreciation and gratitude, you can simply tell them how much they mean to you.

End Toxic Relationships

If you are in a relationship that causes stress or reduces your mental or physical energy, it may be unhealthy for you. Permit yourself to end the relationship so you can focus on relationships with those who bring you happiness and comfort instead.

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.

The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.

All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.

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