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For better wealth, boost your health: HSBC study

A wealthy life needs more than just money. As COVID-19 recently reminded us, true prosperity also requires a healthy body and mind.

Our recent HSBC Life +Factor Study1, which surveyed over 10,000 respondents, shows that physical health, mental wellness and financial fitness are deeply connected. And to reach your wealth ambitions, it's probably wise to take a holistic approach.

Physical, mental and financial wellbeing are interconnected

There is a strong correlation between physical fitness, mental health and financial wellness. Boosting one factor may lead to far-reaching improvements across the others2. At the same time, ignoring one of those factors could affect the others negatively.

Health is wealth

When it comes to wellbeing, health and wealth go hand in hand. Most survey respondents believe that you can't truly enjoy your wealth if you're not physically and mentally healthy.

Financial planning drives wellbeing

Long-term financial planning – including having adequate insurance coverage, making investments and having a comprehensive retirement plan ­– positively impacts physical and mental health.


The survey's results show that it's not enough to measure wealth in isolation. Rather, to secure a better quality of life – both at work and at home – you need to nurture all three forms of wellbeing.

At HSBC, we offer the financial tools and wealth expertise to help you attain total prosperity. Having a flexible, long-term wealth strategy in place will give you more opportunity to fulfil all your ambitions.

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HSBC Holdings plc has prepared this article based on publicly available information at the time of preparation from sources it believes to be reliable but it has not independently verified such information. HSBC Holdings plc and the HSBC Group (together, "HSBC") are not responsible for any loss, damage, liabilities or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use of or reliance on this article. The contents of this article are subject to change without notice. HSBC gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of this article. 


This article is not investment advice or a recommendation nor is it intended to sell investments or services or solicit purchases or subscriptions. This article should not be used as the basis for any decision on taxation, estate, trusts or legacy planning. You should not use or rely on this article in making any investment decision. HSBC is not responsible for such use or reliance by you. Any market information shown refers to the past and should not be seen as an indication of future market performance. You should always consider seeking professional advice when thinking about undertaking any form of prime residential or commercial property purchase, sale or rental. You should consult your professional advisor in your jurisdiction if you have any questions regarding the contents of this article.

1 In March and April 2021, a 20-minute online survey was conducted amongst a total of 10,659 people aged 18 to 80 across four global markets: Hong Kong (n=2,016), mainland China (n=3,560), Singapore (n=2,059) and the UK (n=3,024). The study sought to assess how physical health, mental wellbeing and financial fitness are interconnected to achieve holistic wellbeing in the context of the COVID-19 pandemic and to assess the drivers of employee wellbeing.


Pearson's correlation coefficient was used to study the interconnected relationship between the various aspects of overall wellbeing – physical, mental and financial. A series of scales were employed to study responses to each individual variable. The Likert scale of 1-10 where 1 is 'Not Fit' and 10 is 'Extremely Fit' allowed respondents to self-report their physical fitness as Unfit (1 to 5), Moderate (6 to 7) and Fit (8 to 10).


Mental wellbeing was tracked using the Warwick-Edinburgh Mental Wellbeing Scale© ("WEMWBS"), respondents were given a mental health score ('very low', 'below average', 'average', 'above average'). WEMWBS was developed by the Universities of Warwick, Edinburgh and Leeds in conjunction with NHS Health Scotland. ©University of Warwick, 2006, all rights reserved.


Financial fitness was measured using the FinFit methodology previously developed by The Hongkong & Shanghai Banking Corporation Limited through which respondents are evaluated on 15 questions across 4 areas including financial habits, financial knowledge, financial planning, financial security.

The research was conducted by Engine Group. Figures have been rounded to the nearest whole number.


2 The strong correlation between physical fitness, mental health and financial fitness was proven through a Pearson's correlation test at 95% confidence level.