Can money buy a longer life?

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Money can't buy you happiness but research indicates that it may very well increase your life expectancy.

Enjoying a long and healthy life is no longer the privilege of future generations. Long lives are the probable destiny of most people living in the developed world.

Research by longevity experts Club Vita suggests there are clear parallels between areas of high income and increased life expectancy.

According to Club Vita, people in the most affluent group in the UK could expect to live 86 years and people in the poorest group could expect to live 74 years. This is based on average weekly income of the wealthiest earning £1,114 and the poorest at £338.

Wealthy people have seen the greatest gains in life expectancy. As the rising cost of private health care continues to concern many, those who can afford it often reap the most rewards.

Contrary to what many believe, your health is not just made up of your habits and the quality of your private medical insurance.

In today's world of complex financial products, you need strategic guidance in order to take advantage of opportunities to preserve, grow and transfer wealth.

Financial stress

For some, extra money significantly reduces financial stress which in turn increases life expectancy.

There is the argument to be made that the health gap between the rich and poor exists because low social status increases stress and anxiety. Health issues are made worse by psychological stress which can be caused by being less wealthy than others.

The financial gap may not have as much to do with material comfort as one may think. Instead, it may be the mental stress of being less wealthy than your neighbours that can lead to increased dissatisfaction in one's life.

At a time of widespread economic uncertainty, when the poor are getting poorer and the middle class is being squeezed, it is not easy to get on the property ladder or get yourself out of debt.

Research also indicates that with current state of economic crisis and recession, eroding pensions will have implications for all of us.

Family life

The recession is having a long-term impact on UK family life. New research suggests more than one million families are arguing more due to ongoing financial worries.

A study by Clydesdale and Yorkshire Banks has revealed that the ongoing financial effects of the recession are having a disruptive impact on family relationships.

The banks' research found that as well as over one million families arguing more, almost two million families say that they feel under severe strain on a daily basis due to money worries and financial pressures.

Health wise

Most of you would agree that there are clear health benefits to being wealthy. Having the ability to provide a home, healthy food and basic necessities enable a more balanced lifestyle. Taking care of those basic needs causes a steep rise in life expectancy.

Recent studies suggest that wealthier individuals with a better education are less likely to suffer from depression and have overall better health in old age, compared to those who are poorer and not-so-well-educated. The latter are more likely to develop a serious illness and may die earlier than their wealthy counterparts.

**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**

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