From healthspan to wealthspan: Health, wealth and legacy defined
With modern roots in what longevity doctors refer to as healthspan, there is an emerging and growing focus on individual health over the long term. According to Merriam-Webster, healthspan — "the length of time that a person is healthy, not just alive" — is more a measure of quality of life than merely the number of years lived.
Health and wealth are closely connected — intimate and vital aspects of life that people hold in the highest regard. They are complicated and must be closely managed throughout one's life, often linked. High-net-worth individuals (HNWIs) have specific needs related to managing the complexity of both their health and their wealth.
“HNWIs are often targets of health care scams, struggle with failure to launch and experience higher rates of isolation, mood disorders and substance abuse,” Samuels said. "Just as HNWIs rely on experts to manage their wealth, they should also engage experts to manage their health. After all, without good health, wealth cannot be fully enjoyed."
For institutions across sophisticated family offices, pensions and endowments, and retirement advisers of defined-contribution (DC)benefit plans and other solutions, this applies both to the investments made around impact in this area and also the employees and benefits granted, fostering not just a job but a career culture. Further, it speaks to the growing need for comprehensive, customized solutions that are not just unidimensional. Not only is there a need for aligned wealth management, but advisers also need to align with expert health advisers. Consider the impact of the spending from the individual who has a full-time nurse at home costing about $1.4 million per year for six years — that equates to a staggering $8.4 million.
On top of that, this excludes the added costs of prescription medicines, medical tests, doctor visits, other caregivers, therapists, logistical adjustments to the home (ramps, chairs for stairs) and insurance. How can families and institutional advisers reshape individual investments and conventional corporate culture into a more adaptive and multidimensional approach, one that effectively addresses complex needs that can easily overwhelm an individual, family, or board of advisers?
Here is the trick: Incorporation has not always necessarily succeeded through hip-sounding acronyms (i.e., ESG or DEI), which sometimes quickly feel forced-upon; but, rather, organically through the investment interests and needs of clients and employees alike. Investment advisers to family offices and pension plans need to factor considerations like longer lifespan and much higher health care costs as well as active, meaningful engagement.
“Top Fortune 500 companies and investors (or HNW families) are seeking unique approaches to develop trusted relationships and top performers amongst their leadership teams and ideal clients/prospects," said Marisa Messana, professional golfer and founder of Marigold Elite Partners. "As a professional golfer, I curate opportunities for 'intentional recreation' — a concept that replaces redundant interactions with meaningful and engaging experiences empowering skill development in their roles, both professionally and personally.”
Furthermore, the face of wealth is changing. We are living longer, thanks to a focus on healthspan. The average life of a U.S. resident has increased 60% in the past 100 years. This shift will translate into longer durations for DC plans, IRAs, pensions and all-weather solutions from public, private and alternative markets to withstand market cycles and volatility as people are living longer — including a potentially significant recalibration and rethinking of what a holistic, long-term investment policy statement looks like.
By 2048, an estimated $124 trillion in generational wealth will change hands, marking the largest wealth transfer in history. Of that, about $30 trillion is expected to go to women, including surviving spouses and those experiencing "gray divorces." Statistically, women tend to outlive men, resulting in a growing need for tailored financial strategies. Additionally, millennial and younger investors often have goals and risk-return profiles that differ significantly from previous generations, emphasizing the importance of personalized wealth management approaches for these emerging demographics.
With shifting markets comes the need to revisit and adjust investment policy statements for foundations, endowments, insurance company general accounts and other large institutional investors, including established and emerging family offices. This is further compounded by the influx of emerging wealth entering the market.
A key, often understated theme in these changes is the focus on longevity. Advisers, outsourced and in-house CIOs and their investment teams must emphasize the holistic nature of portfolios. This includes designing strategies that not only adapt to current market dynamics but also ensure that a portion of the portfolio is positioned to build and preserve wealth over the long term.
Countless hours and inordinate dollars are spent planning and discussing wealth legacy. And the line between health and wealth is blurring. Within the family office space, whether first generation or sixth, there are ongoing conversations about passing down money, governance, which advisers to use, attorneys, doctors, accountants and others to set structures to protect these assets for a seamless transition. For institutions, the conversation may be more focused on setting the correct investment policies and governance structures and how to take often inflexible guidelines and make them more flexible as markets and lifestyles evolve.
While many health care and investment companies include the word “legacy” in their names, too little is being done to truly embody or strengthen the connection between health care and legacy. Thorough health planning and a strong personal health care foundation are essential. It is estimated that 30% of Americans don’t have primary care doctors, and access to care remains a challenge in most parts of the country.
To mitigate risk and ensure proper planning, wealth is often coordinated between trust and estate attorneys, business managers and wealth advisers. Risks remain in health care delivery, yet health care is often poorly coordinated.
Within the realms of health, wealth and legacy, wealthspan goes beyond merely creating or investing wealth. It redefines these concepts to encompass health and lifestyle, emphasizing a more holistic approach that extends beyond a single investment or appointment — it becomes the legacy itself.
A new tool for growth and retention
What transforms the focus on health, wealth and legacy from an ephemeral trend into a lasting and meaningful shift? That depends on one’s engagement, and we are finding that the institutions, family offices and their advisers like to take big concepts and chunk them out into smaller, more digestible nuggets.
Here, the question is not just about which level of the organization — institutional, investment or individual — is involved. This is not a multiple-choice question, as many entities embrace all of these levels in an integrated approach. That’s the difference — holistic integration and communication within and with other organizations, noncompetitively letting the best suggestions and ideas prevail. Democratization of ideas for not just the entity but the industry to rise to these massive, unstoppable statistics shared at the outset.
Institutional engagement
Samuels’ Wellworth was founded on the belief that health and wealth are deeply interconnected and that true legacy lies in harmonizing these critical aspects of life. By combining expertise in patient advocacy, financial strategy and behavioral health, Wellworth emerged as a pioneering force in the health-wealth-legacy movement.
Wellworth specializes in creating personalized strategies that prioritize well-being alongside financial growth, offering services ranging from health insurance optimization to long-term legacy planning. Many people underestimate the financial impact of long-term care. An expert adviser can help clarify the real costs of assisted living, in-home care, medication and treatments, guiding families to make financially sustainable decisions.
For example, one client felt they could easily afford three years in a high-end assisted-living facility. But as the family member's needs grew to include additional support, the costs increased by 15% — a substantial change that affected their overall financial plan. A health adviser’s ability to forecast potential costs can help families avoid such surprises, allowing for smoother adjustments as needs evolve.
The health-wealth-legacy movement emphasizes integrating physical health and financial health as part of an individual’s overall legacy. For Wellworth, this has reshaped the way the business approaches client needs, prioritizing long-term sustainability over short-term solutions. By addressing the emotional and financial dimensions of health, Wellworth has created a model that is not only transformative for clients but also sets a new standard for advisory services in an increasingly interconnected world.
Investment: The Chopra Foundation
“In a world where we constantly check our social media and professional profiles, how often do we pause to reflect on our Soul Profile? True legacy lies in the wealth we accumulate and the holistic well-being we nurture — aligning health, wealth and inner purpose to create lasting impact for generations. By turning the search inward and embracing technology like AI, we can redefine thriving as a balance of mindfulness, longevity and meaningful prosperity."
— Poonacha Machaiah, CEO of the Chopra Foundation and co-founder of Cyberhuman.ai
When we think about building legacy from a multipronged, multidimensional perspective, one cannot have that conversation without contemplating investments that align with longevity and AI. Cyberhuman.ai was founded to bridge the gap between technology and humanity, offering AI-driven solutions that enhance well-being, resilience and longevity. By integrating cutting-edge AI with timeless wellness principles, these platforms empower individuals and institutions to prioritize holistic health alongside wealth and purpose. Through personalized tools like AI-guided meditations, resilience training and mindfulness exercises, these innovations make wellness accessible and scalable, addressing the growing need for balance in an increasingly complex world.
Aligned with the movement, these platforms redefine legacy by merging financial sustainability with healthspan and mindfulness. For example, DeepakChopra.ai is now being positioned in corporations to reduce workplace stress and enhance productivity while assisting individuals in aligning health goals with wealth strategies. By addressing the challenges of extended lifespans, rising health care costs and evolving priorities, these platforms provide a proactive, personalized approach to longevity and financial stability.
AI is transforming how legacy is defined, shifting the focus from financial wealth to holistic well-being. These platforms shape a future where health, wealth and mindfulness converge by fostering healthier workplace cultures and empowering generations to live purposefully. This innovative alignment ensures that individuals and institutions thrive — not just for today but for future generations.