Treat your health as an asset. Or face liability.
July 2022
The other week I had lunch with my friend and family doctor, who made a powerful comment we all need to hear.
He explained that no matter how much money you have, or how privileged a life you may lead, if you become sick and lose your health, you are no better off than anyone else. Our health is the great equalizer.
“Being healthy and able to pursue the most wonderful parts of life is the most important thing we all have,” he told me. “And most people take it for granted and don’t actively manage their health.”
Which brings me to you. Auto dealers are, by and large, financial wizards. But a life of business success or a great sales month today means nothing if tomorrow you are diagnosed with a life-altering or, God forbid, life-threatening medical condition. Over my 35 years in this business, I have answered one too many phone calls with news of someone close falling victim to underlying health concerns that went untreated or, worse, ignored.
Over the last five years I have taken my own health far more seriously, cutting out certain foods, limiting many drinks, and getting serious about staying active. I’ve lost a lot of weight and reversed some poorly trending health markers. My Peloton bike and strength training has become a daily — some would say obsessive — routine. And for the past 15 years, I have worked with a cutting-edge, executive health program here in Richmond to keep my health on track.
The practice is led by the physician I mentioned, Dr. Rand Baggesen. At his private Executive Health Group, Dr. Baggesen preaches preventative health care as opposed to treating a medical condition after symptoms emerge.
His Richmond practice — simply, EHG — is not inexpensive for in-depth physicals that include a dizzying array of cutting-edge diagnostic tests, including a full-body MRI scan and blood tests that go far deeper than your standard cholesterol check.
Before you scoff at such an investment, consider this analogy from Dr. Baggesen: Many of his clients are wealthy and typically own more than one home. They therefore pay for landscaping — a bill that can run up thousands of dollars each year. Consider also your annual expenditures on vacations, meals, entertainment…or automobiles.
If you are willing to pay for lawn care and extravagances or nonessentials, why not invest in your own health? You can stop major medical problems before they occur, and reverse disease that may already be present. If you drop dead tomorrow, the houses, vacations, meals, entertainment, and great sales months matter not.
Treat your health like your investments — an asset class, and one that must be treated like your other holdings. You must monitor it, put money into it it, and fine-tune it when things change.
For those who have the means, I would encourage you to consider an executive health program like Dr. Bagessen’s. Having 24/7 access to my family doctor has allowed me to bypass urgent-care clinics or ERs for medications, and given me quick peace of mind when questions popped up. With an executive health program, help is a video chat or text message away.
Manage your body like an asset class, and find yourself a good asset manager. If you would like to meet Dr. Baggesen or hear more about my experience, reach out to me.