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Current health habits are one of the most overlooked ways to boost your retirement savings.
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According to KFF, an estimated 14 million Americans have more than $1,000 in medical debt that could eat into retirement savings. Medical costs tend to rise as we get older.
“From medical procedures attempting to reverse past damage to frequent doctor’s visits because lifestyle choices have caught up with our bodies, medical costs are eating away at savings and time,” said Jesse Chad, chief wealth officer at Aspire Wealth Partners.
“You might not be able to do the things you were looking forward to in retirement,” Chad says. “Just like you think about your 401(k), you should think about your health. Ask yourself, ‘What can I contribute today to help me do well in retirement?'”
Here are five ways your current health habits could impact your future retirement costs.
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Watch your mouth
According to the American Dental Association, 13% of the U.S. population reports cost barriers for dental care, compared with 4-5% for other health care services.
According to Humana, without insurance, the cost of dental care services, from routine to restorative care, can range from $90 to $100 per visit or as much as $1,800 for a root canal, depending on where you live and the services you need.
“The reality is that teeth just wear down over time, and dental insurance plans rarely cover the cost beyond cleanings,” Chadd says.
According to NewMouth, standard dental insurance will cover about 80% of minor restorative dental procedures, such as cavity fillings, emergency x-rays, and tooth extractions.
You can prioritize preventive dental care now to avoid more expensive treatments in the future. Many dental offices offer installment plans or cash payment discounts. Finally, dental savings plans, an alternative to traditional insurance, may offer discounts on certain treatments.
Stay Agile
Maintaining flexibility, strength and mobility is important for everyday tasks like carrying groceries or lifting a suitcase into the overhead bin on an airplane.
“My husband is a personal trainer, and many of his clients are retirees who want to maintain their musculoskeletal system so they can stay in bed,” Chad says. “Starting these habits early and paying attention to muscle and bone health in the years before retirement will pay big dividends once you retire.”
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Prioritize movement
According to a recent report from the American Heart Association, nearly half (48%) of Americans over the age of 20 have some form of cardiovascular disease, including coronary heart disease, heart failure, stroke or high blood pressure.
Additionally, less than a quarter (24.2%) of U.S. adults follow national recommendations for physical activity outlined by the Centers for Disease Control and Prevention (CDC), which include about 2.5 hours of moderate-intensity activity each week.
“Heart health and similar issues are often genetic, but our behavioral choices can slow the effects of our genetics,” Chadd says. “I see people who didn’t prioritize exercise and healthy eating in their 40s and 50s really struggling in retirement.”
Chronic disease management
According to the CDC, chronic health problems such as diabetes and obesity account for 90% of the nation’s $4.5 trillion in annual health care costs.
Quitting smoking and reducing alcohol intake can reduce your health and financial risks. Chad recommends that people with chronic or high-risk health conditions discuss their health needs with a financial advisor.
“Some of my clients have access to health savings accounts while they’re still working, so they plan to maximize their contributions to those accounts each year,” Chad says. “They’re creating a retirement health savings structure so they can stop spending that money today and put it toward retirement savings.”
Long-term medical planning
Long-term care insurance can help protect your assets and give you more options for how and where you or your partner will receive care when you need it.
Additionally, plans like Flexible Savings Accounts (FSAs) and Health Savings Accounts (HSAs) offer significant tax benefits and must be used only for medical purposes. Jordan Thiel, CEO of life insurance company Everly, said HSA plans are only available if you have a high-deductible health plan.
“You may also want to consider purchasing an annuity that has the ability to accelerate payments in the event of a serious medical event,” Thiel said.
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This article originally appeared on GOBankingRates.com: 5 Ways Your Health Habits Today Can Affect Your Retirement Costs Tomorrow
