The great Warren Buffet is known to say that one of the magic secrets to his investing success is living a long time; a tangential way of crediting the wonder of compounding. So, one way that we can become wealthier is to simply live longer.
Living longer is harder to achieve today than it was even just a year ago.
At the time of writing the Health Canada website is reporting a total of 702,183 cases of COVID in Canada, with 608,084 individuals having recovered, 76,234 still active and sadly 17,865 dead. That suggests that if you and 99 of your friends get sick with it, three of you are likely to die too soon.
Another significant risk to one’s wealth is being unable to work for an extended time. And again here, Covid poses a risk. According to the CDC website, while “most persons with COVID-19 recover and return to normal health, some patients can have symptoms that can last for weeks or even months after recovery from acute illness.
The most commonly reported long-term symptoms include fatigue, shortness of breath, cough, joint pain, and chest pain.
Other reported long-term symptoms include difficulty with thinking and concentration (sometimes referred to as “brain fog”), depression, muscle pain, headache, intermittent fever, and fast-beating or pounding heart (also known as heart palpitations).
More serious long-term complications appear to be less common but have been reported. These have been noted to affect different organ systems in the body. These include cardiovascular (inflammation of the heart muscle), respiratory (lung function abnormalities), renal (acute kidney injury), dermatologic (rash, hair loss), neurological (smell and taste problems, sleep issues, difficulty with concentration, memory problems), and psychiatric (depression, anxiety, changes in mood).”
Covid poses a clear and present danger to the health and wealth of you and your family.
Take it seriously, if not for yourself, then do so for others. The central message of Jesus is love. It is indisputable. It is so evident that I would go so far as to say you cannot call yourself a Christian without adhering to that belief. None of us live up to the standard we should (I certainly know that I don’t), but this is the standard to which we have been called: to love others as Christ loved us.
Obeying the health authorities is one way that we can show love to those around us.
I try to go for a long (6 kilometre-ish) walk every other day or so and it is interesting to see how people’s behaviour changes from one geographic region to the next. This past week, I walked one route (a long one – closer to 9 kilometres) where almost everyone was respectful (single filing to maintain a 6-foot distance and wearing masks). Yet in another area of the city, it was exactly the opposite with only a handful wearing masks and many failing to maintain a distance, despite clear signage mandating both. Take a guess as to which one made me feel more loved and respected.
I am begging you. Please, please, please, out of love for yourself and others:
- wear a mask,
- physically distance, and
- wash your hands.
Obey not only the edicts, but the preferences of your local health minister. Even if you believe COVID is a hoax, even if you feel your rights are being trampled by the government, even if you believe you have a right not to, show that love by complying with local health authorities and by respecting the concerns of those in your communities.
Do it for your health. It will increase the odds that you will live longer and that your family will live longer. It will increase the odds that you will not have months of no earnings or a reduced income due to disability.
Do it for your wealth. The less time wasted recovering, the more money you can make. The longer you live the more, like Warren Buffet, you will get wealthier from the simple benefit of more years for your assets to compound.
But most importantly, do it for love. Because you love God, and you love those around you. Because Jesus has asked you to carry the soldier’s gear for a mile further than you are legally obliged to. Because you are a Christ follower.
“For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”
– The Apostle Paul (Gal 5:14 – NIV)
Arnold Machel, CFP® lives, works and worships in the White Rock/South Surrey area where he attends Gracepoint Community Church. He is a Certified Financial Planner with IPC Investment Corporation and Visionvest Financial Planning & Services. Questions and comments can be directed to him at firstname.lastname@example.org or through his website at www.visionvest.ca. Please note that all comments are of a general nature and should not be relied upon as individual advice. The views and opinions expressed in this commentary are those of Arnold Machel and may not necessarily reflect those of IPC Investment Corporation. While every attempt is made to ensure accuracy, facts and figures are not guaranteed.
Arnold is now accepting a limited number of invitations to speak for the 2021 calendar year. If you are interested in having him speak to your congregation or other group (when services are allowed to resume) regarding Giving or any other money matters, please contact us at email@example.com or (604) 542-2818 with your preferred date and time.