People who don’t plan financially for their future have an increased risk of dying prematurely, according to new University of Colorado Boulder research.

The research found that procrastinating financial planning for the future isn’t only bad for the wallet, it can affect life expectancy.

The study analyzed data from thousands of older adults living in the U.S. and England, according to a release. The two groups were asked about their planning horizons on spending and saving. The researchers later checked government mortality records to see how long the participants lived.

The results showed people with a shorter financial planning horizon had a higher risk of dying prematurely, even after controlling for factors including age, gender, income, education, health and life expectancy.

There were 11,298 English people evaluated over 10 years, and the study found that the participants who planned less for the financial future had a 9% greater risk of dying. The 11,478 Americans were evaluated over 22 years and had a 7% greater mortality risk.

Additionally, the strongest health and longevity benefits of financial planning were among people with the fewest financial resources. This suggests that financial planning may be especially beneficial for low-income individuals, the release said.

“The effect we’re describing is even stronger among lower-income, lower-wealth people,” Joe Gladstone, assistant professor of marketing in the Leeds School of Business, said in a release. “The benefits of thinking long term into the future seem greatest for people who actually have the least.”

Read more @dailycamera