Jenny Holt 11/14/2016
Financial stress might peak in our 40s, but that does not mean it just disappears altogether. In
fact, while a % of all adults at all ages have some kind of financial stress, the unique position of
senior citizens is complicated by smaller work opportunities and growing health issues. The U.S.
Federal Reserve calculates that 51% of all stress for over 40s comes from job losses and reduced
wages, while this is 24.6% for the over 70s.
Whatever the cause of financial stress, the threat of bankruptcy and foreclosure can pay a heavy
toll on our minds and bodies. This can manifest itself in headaches, insomnia, chest pain, and
loss of desire, as well as a wide range of mental health issues including depression and stress.
It is important for seniors to find coping strategies for difficult financial times and you can find
out more about how to cope with these problems in this full financial stress for seniors guide.
Social(k) does not take a position on reverse mortgages. The information in the guide, taken as a whole, is worth reading through.