Financial Impact of Depression and Grief
My name is Ella Moss, and I am writing because I recently finished a resource you might be interested in.
It is a financial guide looking at the costs of depression and grief.
There is a lot out there about the emotional costs of both, but though it would be interesting to look at another angel.
According to the London School of Economics, depression costs the economy £77 billion a year.
In the United States, the New York Times puts that cost at half a trillion dollars, but it is about individuals and their own finances too. Those with emotional disorders earn $16,000 less a year on average and can face severe financial difficulties.
When we consider issues that relate to mental health, we often (and rightly too) focus on the immediate emotional and physical aspects of the illness – for instance, how people can find their day to day health affected and how they cope with whatever mental condition they have.
Whilst it’s right to do so, sometimes the more practical considerations of such difficulties are forgotten.
Suffering from depression, anxiety or any form of condition that has an impact on your mental well-being can often mean that full time work is difficult.
Not only that, but you yourself may be in a position in which you’re caring for someone who suffers and need help and advice on where to turn.
If you’d like some helpful and sound ideas to help you, you can read this informative mental health guide:
Elderly people are often hiding their depression
Just as teenage depression has received more recognition and validation over the last decade, depression in senior citizens has also gained more attention. Teenagers are facing loads of issues — and seniors are as well, even though the effects are quite different.
Senior citizens have many worries. They are facing getting older and less capable of caring for themselves. They may be worried about outliving the funds they have set aside for their retirement. They may be facing significant changes, such as moving from their home to a retirement community or nursing home. They are also finding themselves surviving their friends.
One of the major concerns about depression in seniors is that the symptoms are not nearly as easy to identify as they would be in a child or a middle-aged adult. Senior citizens rarely tell people that they are depressed, and may not even recognize it as such. Even when the signs are noticed, they are often mistaken for other medical problems associated with age.
If a senior citizen stops taking part in active activities, this is a red flag. For instance, if an elderly lady has been going to get her hair done every week, for the last 30 years or so, and suddenly stops, you cannot assume that she just got old and stopped worrying about what her hair looked like. The culprit is probably depression. Think about the things that the elderly person had done before, and what they have recently stopped doing.
What you must remember is that today’s seniors may still consider depression to be a bad thing that one must hide from others. When they were children and then later, raising their families, if someone suffered from a mental condition — including depression — that person was thought to be either “crazy” or “incompetent.”
Naturally, since they were raised and lived in this mindset, they will try to hide their depressed feelings if and when they occur.
Senior seldom tells about their depression.