QQQ   298.44 (-1.16%)
AAPL   145.54 (-1.07%)
MSFT   261.50 (+0.15%)
FB   200.04 (+0.71%)
GOOGL   2,288.90 (-1.38%)
AMZN   2,216.21 (-1.99%)
TSLA   724.37 (-5.88%)
NVDA   172.64 (-2.50%)
BABA   86.48 (-1.72%)
NIO   14.55 (+1.68%)
AMD   94.24 (-0.93%)
CGC   5.73 (-3.21%)
MU   70.47 (-2.02%)
T   20.28 (+2.22%)
GE   74.63 (-0.56%)
F   13.05 (-3.33%)
DIS   105.18 (-2.00%)
AMC   11.71 (-0.85%)
PFE   50.67 (+1.50%)
PYPL   77.65 (-1.50%)
NFLX   186.51 (-0.60%)
QQQ   298.44 (-1.16%)
AAPL   145.54 (-1.07%)
MSFT   261.50 (+0.15%)
FB   200.04 (+0.71%)
GOOGL   2,288.90 (-1.38%)
AMZN   2,216.21 (-1.99%)
TSLA   724.37 (-5.88%)
NVDA   172.64 (-2.50%)
BABA   86.48 (-1.72%)
NIO   14.55 (+1.68%)
AMD   94.24 (-0.93%)
CGC   5.73 (-3.21%)
MU   70.47 (-2.02%)
T   20.28 (+2.22%)
GE   74.63 (-0.56%)
F   13.05 (-3.33%)
DIS   105.18 (-2.00%)
AMC   11.71 (-0.85%)
PFE   50.67 (+1.50%)
PYPL   77.65 (-1.50%)
NFLX   186.51 (-0.60%)
QQQ   298.44 (-1.16%)
AAPL   145.54 (-1.07%)
MSFT   261.50 (+0.15%)
FB   200.04 (+0.71%)
GOOGL   2,288.90 (-1.38%)
AMZN   2,216.21 (-1.99%)
TSLA   724.37 (-5.88%)
NVDA   172.64 (-2.50%)
BABA   86.48 (-1.72%)
NIO   14.55 (+1.68%)
AMD   94.24 (-0.93%)
CGC   5.73 (-3.21%)
MU   70.47 (-2.02%)
T   20.28 (+2.22%)
GE   74.63 (-0.56%)
F   13.05 (-3.33%)
DIS   105.18 (-2.00%)
AMC   11.71 (-0.85%)
PFE   50.67 (+1.50%)
PYPL   77.65 (-1.50%)
NFLX   186.51 (-0.60%)
QQQ   298.44 (-1.16%)
AAPL   145.54 (-1.07%)
MSFT   261.50 (+0.15%)
FB   200.04 (+0.71%)
GOOGL   2,288.90 (-1.38%)
AMZN   2,216.21 (-1.99%)
TSLA   724.37 (-5.88%)
NVDA   172.64 (-2.50%)
BABA   86.48 (-1.72%)
NIO   14.55 (+1.68%)
AMD   94.24 (-0.93%)
CGC   5.73 (-3.21%)
MU   70.47 (-2.02%)
T   20.28 (+2.22%)
GE   74.63 (-0.56%)
F   13.05 (-3.33%)
DIS   105.18 (-2.00%)
AMC   11.71 (-0.85%)
PFE   50.67 (+1.50%)
PYPL   77.65 (-1.50%)
NFLX   186.51 (-0.60%)

Liz Weston: The mental health risks of retiring

Monday, January 24, 2022 | Liz Weston Of Nerdwallet


This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. Although most people are happy in retirement, some retirees report feeling symptoms of depression. Understanding some of the causes and symptoms of depression, which can be different in older people, may help you avoid catastrophe. (NerdWallet via AP, File)

The late Pamela Hixon of Leipsic, Ohio, was eager to retire from her job running a hospice agency. Soon after she quit, however, Hixon spiraled into depression and anxiety. She sought help from counselors and her pastor, but it wasn’t enough. Six months after retiring, she took her own life.

“She lost purpose, she lost significance, she lost a sense of meaning in her life,” says her son Tony Hixon , a Findlay, Ohio-based wealth manager who wrote about the experience and how it transformed his financial planning practice in a book, “Retirement Stepping Stones: Find Meaning, Live with Purpose, and Leave a Legacy.”

Overall, retirees are a contented bunch and many report being happier in retirement than they were at the end of their careers. Older adults are less likely than younger people to experience major depression, says Brent Forester, president of the American Association for Geriatric Psychiatry.

Nonetheless, retirement often involves significant losses — of identity, purpose, structure and social contacts — that can trigger depression and other psychiatric illnesses, says Forester, who also heads the geriatric psychiatry division at McLean Hospital in Belmont, Massachusetts.

“Getting depressed is not a normal part of aging,” Forester says. “But one of the risk factors (for depression) is loss, and the loss of one’s professional identity, the loss of one’s job, is a big one.”

RETIRING CAN POSE CHALLENGES

Often, people are too busy working and raising families to develop interests that might offer structure and purpose in retirement, Forester says. Their social networks can disappear if they primarily made friends through work, or they move to a new community after retirement. (Social isolation is another big risk factor for depression and many other health problems.)

Substance abuse can cause problems for retirees, as well, Forester says. Some people may use their unstructured time to drink more or use drugs more often, and aging brains are much more sensitive to the adverse effects of these substances, he adds.


People also have time to think about bigger questions of purpose and meaning, Hixon says.

“The age-old question of ‘why am I here?’ can get crowded out by being busy,” Hixon says. “Upon retirement, you do have time, and that question can sometimes plague a person.”

HOW TO EASE THE TRANSITION

People may be so desperate to get away from workplace stressors — a bad boss, a too-heavy workload, a rigid schedule — that they don’t fully consider the benefits they get from working. Or they may be accustomed to viewing retirement as the finish line and don’t think deeply about what their day-to-day lives might look like without work.

“Retirement is a transition, not a destination,” says psychologist and retirement coach Dorian Mintzer of Boston. “It’s very helpful to think about ‘what are you retiring to?’”

Consider how you’ll spend your days and what might offer “a sense of connection, engagement, purpose and meaning,” says Mintzer, co-author of “The Couple’s Retirement Puzzle: 10 Must-Have Conversations for Creating an Amazing New Life Together.” That might include hobbies, volunteering or time with family, for example. Figure out what gives you joy as well as what new things you’d like to do or learn next.

“What are some of the things you had to put on the back burner when you were younger?” Mintzer asks.

Part-time work is another option, she says. Reducing the hours you work can help alleviate burnout while allowing you more free time. Talking with a therapist, coach or sympathetic friend may ease the transition as well.

“Get support from people. Don’t be afraid to ask for help,” Mintzer says.

WHEN AND WHERE TO FIND HELP

Of course, many people are pushed into retirement earlier than they planned because of job loss, poor health or unexpected events such as the current pandemic. People who retire involuntarily are often less satisfied with their lives and suffer from worse mental health than those who retire voluntarily. People experiencing financial strains — a common result of unexpected retirement — may be more vulnerable to depression and other mental health problems.

Complicating matters further, the symptoms of depression and other mental health issues may be different in older adults, Forester says. Rather than feeling sadness, for example, depressed older people may feel numb or anxious, have difficulty with memory or decisions, or suffer from otherwise unexplained physical complaints.

If you’re concerned about your mental health, consider talking to your doctor. Depression and other mental health problems are medical conditions that typically can be treated with medication and therapy. If you’re concerned about a loved one, encourage them to seek medical treatment and to follow their treatment plan. You may need to help them make the initial appointments or accompany them to treatment , since lack of motivation and energy are common symptoms of depression.

For help and more information, please call the National Suicide Prevention Lifeline at 1-800-273-8255.

And if you’re considering retirement, make sure you have a life plan as well as a financial plan.

“Just the act of planning can help you feel more in control and less anxious,” Mintzer says.

___________________

This column was provided to The Associated Press by the personal finance website NerdWallet. Liz Weston is a columnist at NerdWallet, a certified financial planner and author of “Your Credit Score.” Email: [email protected] Twitter: @lizweston.

RELATED LINK:

NerdWallet: Reluctant to retire? 3 signs you’re ready https://bit.ly/nerdwallet-ready-to-retire-signs


7 Great Biotech Stocks to Buy in Expectations of Better Days Ahead

The biotechnology (biotech) sector was one of the best performing sectors in 2020. Many companies saw their stock prices rise as the race was on for a Covid-19 vaccine.

However, many of these companies were pre-revenue companies. Or they were companies that only had one or two in-market products or therapies. And as the calendar turned to 2021, investors took notice. And what went up quickly went down. And in the case of the biotech sector, it came down hard.

One way to tell is to look at biotech ETFs. One of the most popular ETFs, the VanEck Vectors Biotech ETF (NYSEARCA:BBH) is down more than 15%. So you can imagine what it’s been like for many individual biotech stocks. If you’re a buy-and-hold investor, you’re licking some wounds right about now.

But investors who knew what companies to buy have done well. And many of those names will continue to lead the biotech sector in 2022. In this special presentation, we give investors seven biotech stocks that represent different aspects of this diverse sector. We’re confident there’s something for investors of all risk tolerances.

View the "7 Great Biotech Stocks to Buy in Expectations of Better Days Ahead".


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