I’ve always said that retirement is a little like owning a classic car. You’ve got the mileage, you’ve earned the right to take the scenic route, and if you want it to last, you’d better keep up with the maintenance. When it comes to our bodies, that “maintenance” isn’t just about living longer. It’s also about saving money. Yes, good health is a savings plan all its own. And unlike the stock market, it doesn’t take a nose-dive every time some CEO tweets something ridiculous.

Let’s face it, healthcare in retirement is expensive. Medicare helps, but it doesn’t cover everything, and those co-pays, prescriptions, and deductibles can stack up like a tower of Jenga blocks, ready to topple the minute you need a new specialist. Every time we prevent a medical problem through healthy living, we’re not just saving ourselves discomfort, we’re also keeping our wallets pleasantly plump. In fact, the link between health and financial security is so strong that I sometimes wonder why Fidelity doesn’t offer a “gym membership fund” right alongside its 401(k) options.

Now, I’m not going to pretend we can stop all health issues. Bodies age, things squeak, creak, and sometimes outright fail. But there’s a world of difference between the kind of age-related changes that come naturally and the ones that come from years of bad habits. The better we treat ourselves, the more likely we are to steer clear of preventable medical expenses. And in retirement, that’s money that stays in your pocket instead of disappearing into a pharmacy cash register.

Keeping the doctor away

One of the easiest ways good health saves money is through prescription costs, or, more accurately, the lack of them. High blood pressure, high cholesterol, and type 2 diabetes are the “big three” common conditions that often require lifelong medication. But here’s the thing: in many cases, they’re also heavily influenced by diet, exercise, and weight. I’ve seen friends who, after dropping a few pounds and walking daily, went from a monthly pharmacy bill that could fund a nice dinner out to just a multivitamin and the occasional aspirin. That’s real money saved every month, and it adds up quickly over the years. It’s like earning compound interest, only the investment is in yourself.

Then there’s the cost of medical procedures. Heart surgeries, stents, joint replacements, these aren’t just tough on the body, they’re brutal on the bank account. Even with insurance, the bills can be staggering. Staying active, eating well, and keeping your weight in check won’t make you invincible, but they can dramatically lower your odds of needing these interventions. I like to think of it this way: a thirty-minute walk most days may keep me from spending thirty days recovering from surgery. I’ll take the walk, thank you very much.

Workout and save more? Why not

Another sneaky way poor health drains finances is through reduced independence. If you’re in good shape physically and mentally, you’re more likely to live at home longer and avoid costly assisted living or in-home care. Don’t get me wrong, there may come a time when help is necessary, and there’s no shame in that. But if staying strong and mobile means putting off those expenses for five or ten years, that’s potentially hundreds of thousands of dollars saved. I’m not saying you should start lifting weights like Arnold Schwarzenegger (although if you can, more power to you), but I am saying that a little strength training and balance work can be worth its weight in gold. Even lighter weights give enough resistance to make a huge difference.

Speaking of independence, good health also means you can keep doing the everyday things that would otherwise cost you money, like mowing the lawn, cleaning the house, cooking your own meals, or even driving yourself to appointments. Once those tasks become too difficult, we often have to pay others to do them. Staying healthy enough to manage your own daily life is like having a personal budget buffer that no spreadsheet can truly capture.

Mental health is another piece of the puzzle. Studies show that staying active, social, and engaged in hobbies can help ward off depression and cognitive decline. Why does that matter for your wallet? Because mental health issues can lead to expensive therapy, medications, and even long-term care needs. I’ve seen firsthand how an active social life, whether it’s joining a walking group, volunteering, or even playing in a local pickleball league, can keep spirits up and medical bills down. Plus, pickleball is a great way to make new friends and accidentally work out without realizing it.

Let’s not forget lifestyle costs. It’s a little ironic, but when you’re in good health, you naturally spend less on certain things. Healthy people tend to eat out less (because they cook more at home), spend less on convenience foods (because they’ve got the energy to prepare something), and even travel more affordably (because they can take that walking tour instead of booking the luxury “sit-on-a-bus” option). I once took a trip where we walked five miles a day exploring, and it cost next to nothing compared to a cruise, and I didn’t gain five pounds from a midnight buffet. Win-win.

Of course, there’s also the emergency factor. If you’re in poor health, you’re more likely to have unexpected ER visits, and those are budget busters. Even with insurance, the ambulance ride alone can cost more than your first car. Staying healthy can’t prevent every accident, but it can reduce the odds that a minor issue becomes a major crisis. Think of your health as an emergency savings account that you build not with money, but with habits.

So, how do we keep that account growing? For me, it’s a combination of regular movement, mindful eating, and a commitment to routine checkups. I’m not talking about turning into a health zealot who weighs their lettuce leaves and runs marathons. I’m talking about reasonable, sustainable habits that keep me feeling good and functioning well. For example, I’ve made a habit of walking right after breakfast, it’s not just good for digestion, it sets the tone for my whole day. And yes, sometimes I bribe myself with the promise of a good cup of coffee at the halfway point.

Eating well doesn’t mean never having dessert, either. Life’s too short to skip pie entirely, or birthday cake if that’s your choice. But I’ve learned to make most of my meals balanced and nutrient-rich, which makes those occasional indulgences all the sweeter. I also keep an eye on portion sizes, partly for my waistline, partly for my grocery bill. It’s amazing how much less you spend on food when you’re not eating like a teenage linebacker.

As for checkups, I see them as an investment. Catching a problem early is almost always cheaper, and less painful, than waiting until it becomes a crisis. I’ve had friends who skipped routine screenings to “save money” only to end up with far higher bills later. It’s like ignoring a small leak in your roof to avoid a repair bill, until one day, your ceiling collapses and you’re living under a tarp.

The bottom line is this: in retirement, good health is more than just a quality-of-life issue. It’s a financial strategy. Every healthy choice you make is like a deposit into a savings account that pays out in fewer medical bills, lower prescription costs, and a longer stretch of independent living. And the earlier you start making those choices, the bigger the payoff.

So, while I still believe in having a solid financial plan for retirement, I also believe in what I call the “Health 401(k).” You contribute to it daily with smart habits, you let it grow over time, and one day, you reap the rewards, not just in years added to your life, but in dollars kept in your bank account. The best part? Unlike the stock market, this investment is entirely under your control.

And here’s a little secret: when you treat your body well, you don’t just save money, you enjoy retirement more. After all, what’s the point of having a healthy bank balance if you don’t have the energy to enjoy it? For me, that’s motivation enough to lace up my sneakers and take that walk. Besides, you never know when you might need to outrun the Grim Reaper. And if he ever catches me, I want him to be good and winded!