Anxiety

Seniors are getting anxious and worried over the current financial state of the economy, according to George Grossberg, M.D., and a psychiatrist at St. Louis University. He says, “The anxiety and worry are immense. It is affecting millions and millions of people, especially those who were looking forward to a comfortable retirement.”

Seniors who were counting on investments are worried they may not have a comfortable retirement. Some people are even deciding to work longer than they had originally planned in order to ensure their retirement is secure and comfortable.

Many seniors lived through the Great Depression where extreme poverty and food lines were common, and the prospect of another economic catastrophe makes them anxious.

Other seniors who are financially secure are worried about other issues or have general uneasiness. Dr. Grossberg asserted, “I’ve had patients who are themselves financially secure talk about their anxiety for society as a whole or their worry that there may be unprecedented problems, like civil unrest.”

He offers his advice for seniors who are anxious about the economy and their finances:
*Don’t make any rash decisions. Talk to someone objective before you make any major decisions, such as selling your investments.
*Look at the facts: the media tends to exaggerate the state of how bad things are. The predictions of the future may not be as bad as the media predict. Dr. Grossman says most over-the-top predictions won’t come true.
*Remember to get plenty of sleep, eat well, and exercise regularly. Remember that exercise can help reduce anxiety and stress as well as keep you healthy.
*If you feel very anxious or worried, seek out help. Talk to your doctor or a therapist about your concerns. Talking to someone is often helpful for relieving stress and getting a reality check.

Even though our economy is going through a tough time right now, it is best to try and stay calm and not let your imagination run wild with what may or may not happen with our economy in the future.

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Source:

Psych Central: Older Adults Battle Anxiety