Americans who have strong financial habits are significantly more likely to report better physical and mental health, according to the MassMutual Health & Wealth Habits Report.
MassMutual’s earlier research revealed that in order to achieve happiness in retirement, it is crucial to work on financial and physical health before retiring. This report builds on this research and examines the relationship between health and financial wellness.
“This research reinforces what we see across our platforms: When individuals build consistent habits and have access to the right tools, they’re more confident, more resilient, and more optimistic about living longer, healthier lives,” said Sears Merritt, head of enterprise technology & experience with MassMutual. Merritt oversees the company’s wellness program. “At MassMutual,” he added, “we recognize the interconnectedness of financial, physical, and mental health and how prioritizing health and wellness can influence one’s longevity.”
Major findings of the report
Key findings include:
THE WELLNESS PARADOX: Most Americans believe that prioritizing health improves their financial decision-making, but many struggle to maintain wellness because of financial pressures.
For example:
- 80% of Americans said that they make better financial decisions when actively investing in their health and wellness; yet, 36% reported sacrificing aspects of their health because of financial constraints.
- 39% of Americans have skipped at least one health appointment or purchase in the past 12 months due to cost concerns, most commonly dental cleanings/check-ups (21%) and vision exams (20%).
- When it comes to wellness in the past 12 months, 45% have gone without wellness , such as healthy groceries or meal planning (24%), medication/vitamins (21, and gym or fitness membership (20%).
THE HEALTH-WEALTH CONNECTION: Americans with strong financial habits are significantly more likely to report better physical and mental health. This suggests a powerful link between finances and well-being, the survey said.
For example:
- Those who rate their financial health above average are nearly four times more likely to rate their physical health above average (68% vs. 18%) and over three times more likely to rate their mental health above average (72% vs. 22%). This is compared to those who rate their financial health below average.
- They are also more likely to maintain healthy routines, such as regular exercise (70% vs. 34%), getting 7+ hours of sleep (67% vs. 49%), and eating a balanced diet (66% vs. 33%).
Financial wellness and consumer health
So why does financial wellness play such a key role in consumers’ physical and mental health? “Our recent research shows that 80% of Americans say they make better financial decisions when actively investing in their health and wellness and those who rate their financial health above average are nearly four times more likely to rate their physical health above average and over three times more likely to rate their mental health above average,” said Vaughn Bowman, head of wealth management at MassMutual.
Enhancing clients’ financial discipline
As they work with their clients, what steps can financial advisors take to enhance their financial discipline so that they can move closer towards better physical and mental health? According to Bowman, “it starts with introducing a simple and powerful concept that most people simply do not think about every day, and that’s the fact that health and wealth habits and outcomes in life are tightly linked together, as our recent research shows. It is also by reframing the conversation with clients, shifting towards a focus on independence and freedom.”
“Ask if they would like the gift of some level of certainty, and options, in their financial picture – in their income stream – to give themselves the best possible chance of living their life the way they envision it,” Bowman said. “Ask them to picture what they want to be doing, and with whom, and help them build towards that by taking steps to optimize their health and wealth,” he added. “When people invest in their health and finances, they’re not just planning for the future. They’re shaping it.”
In closing, Bowman pointed out that people who are successful in various areas of their lives typically take an active role in building that success. “They are not passive. They take steps, develop habits, and carry through,” he said.
An online poll examining the relationship between health and financial wellness was commissioned by MassMutual and conducted by PSB Insights from August 7 to August 12, 2025, among 1,000 American 18 or older.
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