Something that’s fascinated me for years is the connection between relationships, wellness and longevity. We set out to learn more about these connections this year. And here’s the good news: Strong relationships may increase your longevity.
In our 2023 Planning & Progress Study, we surveyed two groups of people: high-net-worth Americans with at least $1 million in investable assets and the general population. Our study revealed that while, on average, individuals feel strongly about their friendships, physical health, and mental health, the wealthy are more focused on friendships than average Americans, and they report feeling better about their overall physical and mental health.
And while it’s not difficult to imagine that those with better physical and mental health may lead longer lives, what do friendships have to do with it? Interestingly, the idea that a focus on friendships and other “warm relationships” can lead to improved physical and mental health is not new. Researchers in the Harvard Study of Adult Development, the longest longitudinal study on human life ever done, have found that people with strong connections to others lead happier, healthier, longer lives than those who don’t have them.
To find out more about the connection between relationships and well-being, we interviewed Dr. Robert Waldinger, MD, clinical professor of psychiatry at Harvard Medical School and Director of the Harvard Study. It turns out the connection may be all about stress. Waldinger explained, “Stress is an inevitable part of all our lives. We experience it every day, and what we’ve found is that good relationships turn out to be stress regulators.”
Research conducted by the Harvard team has even discovered that the diseases of aging can happen later—and sometimes don’t happen at all—in people who have strong relationships. And while Waldinger says there’s no guarantee that you are going to be happier or healthier or live longer if you have good relationships, “… just as eating right and exercising regularly are key ingredients to maintaining your health, so are warm relationships.”
In our interview Waldinger even went a step further, saying that loneliness “… can be just as detrimental to your health as smoking or obesity.”
So, what does all this mean for you? Well, for starters, you probably want to live well for as long as possible so you can seize every opportunity a long life presents. For me, that’s getting to spend more time doing what I love with the people I love. And by intentionally strengthening your own connections, you’ll be well on your way to achieving that goal. In our interview with Waldinger, we even discuss strategies you can use to help improve your relationships.
The other piece of the puzzle is your longevity. Our 2023 High-Net-Worth Study on Retirement suggests you may live substantially longer than you think. Study participants estimate they’ll live until age 81, but retirement and longevity experts say your financial plan should be designed to last until age 100. This means your retirement could be as much as two decades longer than you were planning.
Longer lives present many opportunities to pursue new passions or spend time with family and friends—maybe even explore an encore career. However, it’s important not to underestimate the challenges that long lives present. Much has been written on this topic, but I really like this brief from the Boston College Center for Retirement Research, which identifies longevity risk as the biggest threat to your life goals. It highlights research that shows retirees are likely to underestimate the impact of longevity on their financial plans.
And, thankfully, through good financial planning, we can help you plan for those longevity risks. With an experienced financial advisor on your side, you don’t have to rely on hunches and intuition. Instead, you have access to an informed perspective and data-driven strategies that help you anticipate the challenges to come, so you can pursue your life goals confidently. At Northwestern Mutual, our financial advisors leverage this kind of deep industry knowledge and sophisticated modeling software to build financial plans that include the right mix of investment and insurance products to do just that.
