We all have spent time trying to understand our risk tolerance to design the best asset allocation in up and down markets for our investment portfolio. I would like to encourage you to also spend time thinking about your personal risk, and to develop strategies to reduce the risk in your life. A proactive approach can help limit problems as you age. Here are some questions to answer to help reduce your personal risk.

Risks at home

1. Should I be climbing ladders and performing tasks that include heights? (Cleaning gutters, changing lightbulbs, getting in the attic, decorating the Christmas tree)
2. Should I drive at night? (Consider an Uber ride)
3. Should I drive after a glass of wine or cocktail? (Consider an Uber ride)
4. Should I drive in bad weather?
5. If I am older, should I be driving at all? (Consider using Uber or a paid driver)
6. Should I be exercising in the heat (or cold)?
7. Should I be doing yardwork in the heat (or cold)?
8. Should I be doing any heavy lifting? 
9. If I am on a blood thinner or aspirin, should I further limit my activities to reduce falls and injuries?
10. How is my vision? Do I have regular eye appointments to make sure things are not changing?
11. Have I made my home safe from falling? (Clear walking paths, no rugs that I can trip on, adequate light when I get up at night.)

Risks while traveling

When traveling it is important to develop situational awareness to minimize your risk. The main thing you can do is to put your cellphone away when exploring and walking. You need to be looking around and observing your environment. If you are focusing on your phone, you are less aware of people and things around you. Here are a few questions to ask yourself when traveling:

1. How much cash should I bring with me? 
2. Do I want to stay in a hotel where the lobby is off the ground floor? 
3. Do I want to walk to the restaurant at night? (Or walk home after dinner?)
4. Do I want a rental car to drive in an unknown city?

Health risks

Falls that cause fractures and head injuries are a major cause of morbidity and mortality as we age. The mortality rate in people over eighty approaches 50 percent after hip fracture in many studies. These falls occur due to poor balance, lack of mobility, poor vision, and muscle weakness. One of the best ways to reduce your risk of falls is to implement a daily exercise program focusing on

1. Balance
2. Flexibility
3. Strength
4. Building and maintaining muscle mass
5. Attention to your nutrition

Most current recommendations are to have daily protein intake of 1 gram per pound of body weight. This can be difficult to accomplish without a plan for all meals and snacks.

Limiting alcohol will also help improve overall health and reduce risk.

Developing an intentional strategy to reduce your personal risk can improve your life and limit problems as you age. I hope that you will spend some time reflecting on these questions.

Ralph Broadwater, M.D., CFP®

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