Capital Gains from Health: How Investing in Well-being Boosts a Family’s Human Capital
Consider this: your family's health might be the most valuable asset you're overlooking. Human capital embodies more than just our skills and abilities in our rapidly evolving world. It encompasses our physical and emotional well-being, capacity to seek fulfilling work, and pursuit of personal happiness and a positive sense of identity. Health is a crucial part of human capital, and experts agree that prioritizing our well-being enhances productivity and promotes growth and stability for ourselves and our loved ones. Let's strive to cultivate our human capital and unlock our full potential!
Health as a Core Element of Human Capital
One of the most crucial factors contributing to human capital is health. Being healthy enables individuals to learn and grow more efficiently, work productively, and participate actively in their families and communities. J. Hughes, an expert in his field, has highlighted the pivotal role of health in human capital development. According to him, investing in health is paramount for fostering human capital and achieving sustainable growth in various spheres of life.
The Economic Implications of Health Investments
According to Hughes, investing in health is a wise decision that not only increases life expectancy but also has the potential to boost cognitive function and productivity among family members. This is particularly significant in today's knowledge-based families, where the ability to think critically and solve complex problems is more crucial than ever. By prioritizing health, individuals and families can reap the benefits of a healthier and more fulfilling lifestyle, a sharper mind, and increased productivity.
Stronger Together: Exploring the Social Benefits of a Healthy Family Life
In his analysis, Hughes highlights the individual advantages of good health and emphasizes the social benefits of considering health as human capital. When a family is healthy, they tend to lead a happier and more fulfilling life, reducing social disparities and promoting a more just and equitable society. This underscores the importance of investing in health as a critical component of human capital development.
Transformative Power of Health: Inspiring Case Studies in Human Capital:
The Hoge Family
Success in Action: Positive Examples that Drive Results
In our family, we have always supported pursuing a healthy lifestyle. When our children were young, we ensured they were active in various organized and leisure sports. We also encouraged time outside for free playtime to get dirty. They always had a buddy, their brothers, to get into something new, which was usually active: riding their bikes, rollerblading, skateboarding, and more.
However, they didn’t always eat the healthiest. They may have had too many chicken nuggets and occasional fast food to get something in their tummies. We didn’t keep soda in the house, so it was a treat when they visited their grandmothers and grandfathers. They ate their Halloween candy and enjoyed jello jigglers, macaroni, and cheese. When the pediatrician asked about their diet, he said he was surprised they weren’t obese.
But we, as parents, model healthy behaviors. I ran marathons and half marathons while my husband occasionally competed with me. He was more into weightlifting and riding a bike. But we didn’t drink sodas, eat nuggets or fast food. We shared our healthy food at dinners, which they enjoyed as they got older. When they were teenagers, I would sneak protein into the pancakes and smoothies to get some weight on their scrawny growing bodies.
Now, as adults, they continue to be active and eat healthy. We are also active as a family when we are together. Hiking or doing manual farm labor to maintain the property is our relaxation. Individually, they have their sports: paddle tennis, golf, jiu-jitsu, running, dance, and more.
Over the years, they have learned to cook and be conscious of what they eat. They prepare a variety of meals and seldom eat fast food. Since we raised Wagyu beef, they took their eating to the next level by introducing healthy meat fresh from the farm, with no hormones or antibiotics, grass-fed, and grain-finished. Although they have yet to have children, we hope they pass along this healthy lifestyle to them to grow our family’s human capital.
Ratajacks, the family business
Learning from Failure: Cautionary Tales and Challenges That Missed the Mark
My great-grandfather Adam worked as a laborer-mechanic for the electric railroad in Highwood, IL. His wife, Maryanna, worked in the family business. The family worked long hours for little pay and returned most of their profits to the family business to ensure financial stability. They all lived in a large frame house connected to the store and worked hard to prosper in the 1920s. They eventually bought other properties, including my grandmother's home on the northeast corner of 15th and Lincoln Streets in North Chicago (1445), vacant property on Park Avenue, and a second-story addition to the store building for the daughters who married and continued to work in the store.
A unique and close-knit community was formed in which Albert, the oldest son and family businessman, played a key role. The married daughters of the family worked in the family store, lived in one of the second-floor apartments above the store, and shared meals with my great-grandparents. In return for their work, the daughters paid only a modest rent. This mutually beneficial arrangement was fostered by Albert and had the blessing of my great-grandmother.
My great-grandfather's second son, Michael, fell on hard times during the growth period. As a young man before World War I, he would travel between Chicago, Buffalo, and other places by "riding freight." On one occasion, he fell under the wheels and lost a leg. Unable to enter the service, he stayed home and became the family handyman, plumber, carpenter, painter, and electrician.
Michael was there to apply his skills as the family acquired more property. The family properties were always in good condition and efficiently functional. If something didn't work, Michael would repair or replace it. Although he was skilled, Michael must have been depressed about his accident. He often left home for short or long periods, drinking and gambling. Sometimes, he returned after just one night, but other times, it took him weeks. For a while, it seemed that he only came home to sober up. His brother Al paid for his services to the family properties, but they often argued over the pay. Michael must have found his position as a hired son or brother demeaning; his personal identity was low. He never married and perhaps never loved, but he was kind when sober, although bitter when drinking.
The positive support from Michael's family had an adverse effect when he chose to cope with his situation by drinking. As a result, his human capital was compromised, and his mental health deteriorated. Without the support of a significant other or a job with purpose, he felt unworthy, leading to his eventual demise.
Charlotte, Madaline, and Kathyrn Ratajczak (my grandmother and aunts)
The Hidden Cost: How Genetic Health Conditions Impact Human Capital
Do you know your genetic health? Part of our human health capital is what we inherit. Many families have a cancer gene that puts them at risk of cancer. Others may have chromosomal disorders such as Down or Turner Syndrome. However, our family has heart issues such as Atrial Fibrillation (Afib), which involves rapid and irregular beating of the atrial chambers of the heart.
Some of the risks associated with Afib are strokes, blood clots, and weakening of the heart, leading to a heart attack. My biggest fear growing up was to have a blood clot. My grandmother, Charlotte, had one when I was in elementary school, and it caused her to lose her leg. She also had several strokes, causing her to lose mobility in her arm. My mother, too, had a couple of blood clots in her lifetime, and an “Acute Cardiovascular Event” caused her sudden death.
Upon reviewing our family's health records, it appears that Maryanna, my great-grandmother, passed away due to a heart attack. Both of her daughters, Madaline and Charlotte, also experienced heart issues in the end. And as I mentioned, my mom, Generose, passed suddenly for similar problems.
It shouldn’t be surprising when I was diagnosed with heart issues, specifically Afib, as it runs in my family. My great-grandmother and grandmother didn't take care of their health and had a diet heavy in salt and fat, which led them to be overweight. However, my mother learned from their mistakes and took care of herself by not smoking or drinking, eating well, working out daily, watching her weight, and limiting salt intake. She knew the consequences of not taking care of herself and its impact on her mother. Learning from her, I, too, take care of myself by eating healthy and exercising regularly.
Although genetics can strongly influence your health, lifestyle choices are the key to managing it. I use the E + R = O calculation as an example. If you take an Event (E), such as a health condition, and add your Reaction (R), it equals the outcome. Sometimes, the event is out of your control, but the reaction puts you in the driver's seat instead of the passenger seat (or the victim's).
Take, for instance, last week I was admitted to the hospital for Afib. They monitored my heart for a couple of days. I didn’t have any of the risk factors such as diabetes, obesity, sleep apnea, smoking, or high blood pressure. Lifestyle factors like diet and physical activity also didn’t come into play since I care for my health. However, I do have a genetic history.
Do I roll over and say, “What will be will be.” No, I sought out my health professionals and took an active approach to what I needed to do. I am continuing my exercise and diet and monitoring my heart. When I get an appointment, I will have an ablation. I am now armed with information for a successful outcome. How would you react to a health event?
Strategies for Enhancing Health as Human Capital
There are several ways in which families can enhance their overall health and well-being, thereby promoting better physical, mental, and emotional health for all members. By adopting effective strategies, families can create a healthy and positive atmosphere at home, which can have a significant impact on their quality of life. Some of these strategies include:
1. Healthy Eating
Plan Balanced Meals: Focus on meals rich in fruits, vegetables, whole grains, and lean proteins. Reduce intake of sugars, salts, and unhealthy fats.
Cook Together: Cooking meals at home can encourage healthier choices and portion control. It's also an excellent way for family members to bond and learn about nutrition.
2. Regular Physical Activity
Family Exercise: Engage in activities the whole family can enjoy together, such as biking, hiking, or playing sports.
Encourage Individual Physical Activities: Support each family member in finding a physical activity they enjoy, whether dancing, martial arts, or swimming.
3. Routine Health Check-ups
Regular Doctor Visits: Ensure every family member follows regular health screenings and vaccination schedules.
Dental Care: Regular dental check-ups are essential for maintaining overall health.
4. Mental Health Support
Open Communication: Foster an environment where family members feel safe discussing their feelings and challenges.
Stress Management: Practice and promote stress management techniques such as mindfulness, meditation, or yoga within the family.
5. Healthy Sleep Habits
Establish Routines: Consistent bedtimes and wake-up times help regulate everyone’s internal clocks and improve sleep quality.
Optimize Sleep Environment: Ensure bedrooms are conducive to sleeping, which means they should be dark, calm, and quiet.
6. Limit Screen Time
Set Boundaries: Establish rules for appropriate screen time, ensuring it doesn't interfere with physical activity and sleep.
Promote Active Leisure: Encourage activities like reading, drawing, and playing outside as alternatives to screen time.
7. Substance Use Education
Educate on Effects: Teach children about the effects of tobacco, alcohol, and drugs on health.
Model Responsible Behavior: Adults should model responsible behavior regarding alcohol and medications.
8. Environmental Health
Safe Home Environment: Keep your home free from hazards like lead, mold, and excessive noise. Use non-toxic cleaning products when possible.
Outdoor Activities: Spend time in nature to improve mental and physical well-being.
9. Know your Family Health History
Knowing your family's health history can help identify potential health risks. Detailed documentation of medical conditions across generations and identifying patterns can aid in understanding your family's health history.
Implementing these strategies requires commitment and consistency from all family members but can significantly improve health and quality of life.
Conclusion
As we comprehend health as a crucial component of human capital, it becomes evident that our approach to health must be proactive and integrated into all aspects of our lives. Investing in our health, which is our most significant asset, is not only imperative but also a practical one that is vital for the sustainable development of our family.