As COVID-19 outbreaks continue throughout
the country, quarantining, working from home and at-home schooling have caused
many people to suffer from what used to be called “cabin fever.” Cabin
fever has seemed to spark mental health challenges such as anxiety, depression
or just plain loneliness. And it seems to be a growing problem.
According to data from the Johns Hopkins
COVID-19 Civic Life and Public Health Survey last April, over 30% more adults
said they were suffering from mental distress than they did two years prior. In
August, 41% of adults and 75% of young adults were experiencing mental health
challenges. And between May and August, there was a 15% nationwide increase in
drug overdose deaths compared to 2019 — which had set the previous record at
approximately 72,000 deaths.1
There is no doubt that isolation can
cause mental distress, but in some cases, so does worrying about our finances.
Not only do we have to worry about contracting symptoms of the coronavirus, but
many people also have been affected by the economic decline. If you’re worried
that your financial picture is off track from where you want it to be, we may
be able to help. Call to discuss income strategies to potentially help you
weather financial challenges.
One reason we know the pandemic is
worsening mental health issues is that more people are seeking help. Mental
Health America (MHA) reports that between January and September of last year,
more than 315,000 people took the standard mental health anxiety screen — a 93%
increase over the total number the previous year. More than 534,000 people took
the depression screen, a 62% increase over the 2019 number. Among those who
experienced moderate to severe symptoms of anxiety or depression, 70% say a
primary contributing factor was loneliness or isolation.2
The lock-down era has been particularly
tough on children and teenagers, for whom communal play and socialization
opportunities are key to their development. Studies have shown a correlation
between forced isolation and loneliness among children with an increased risk
of depression. The number of children who visited emergency rooms with mental
health issues increased by 24% from mid-March to mid-October in 2020, compared
with the same period in 2019; it rose 31% among preteens and teenagers.3
One of the most vulnerable demographics
during the pandemic has been health care workers. Not only have they been
overworked and worried about contracting COVID or passing it on to family
members, but many have also experienced stigmatization because other people are
afraid of being infected by them.4
Unfortunately, similar to the physical
health impacts of the coronavirus, the effects of mental health issues may
linger for many years. It’s important for people to seek help and share their
feelings with others so they understand they are not alone in how they feel.
Taking time away from “screens” (smartphones, computers and televisions) for
personal time, outdoor time and general self-care could be helpful.5
1 David E. Wennberg and Patrick J.
Kennedy. HealthAffairs. Dec. 14, 2020. “Too Big To Ignore: 7 Recommendations To
Address Our Growing Mental Health Crisis.” https://www.healthaffairs.org/do/10.1377/hblog20201210.312139/full/.
Accessed Jan. 6, 2021.
2 Mental Health America. 2021. “The
State of Mental Health in America.” https://www.mhanational.org/issues/state-mental-health-america.
Accessed Jan. 6, 2021.
3 Carmen Heredia Rodriguez. US News
and World Report. Jan. 6, 2021. “Children’s Hospitals Grapple With Wave of
Mental Illness.” https://www.usnews.com/news/health-news/articles/2021-01-06/childrens-hospitals-grapple-with-wave-of-mental-illness.
Accessed Jan. 6, 2021.
4 Cara Murez Healthday. US News and
World Report. Dec. 23, 2020. “Pandemic Taking Big Mental Health Toll on Health
Care Workers.” https://www.usnews.com/news/health-news/articles/2020-12-23/pandemic-taking-big-mental-health-toll-on-health-care-workers.
Accessed Jan. 6, 2021.
5 Ashley Sharp. WJHL. Dec. 14, 2020.
“Mental health focus more important than ever at start of 2021.” https://www.wjhl.com/news/mental-health-focus-more-important-than-ever-at-start-of-2021/.
Accessed Jan. 6, 2021.
We are an independent firm helping individuals
create retirement strategies using a variety of insurance products to custom
suit their needs and objectives. This material is intended to provide general
information to help you understand basic retirement income strategies and
should not be construed as financial advice.
The information contained in this material is
believed to be reliable, but accuracy and completeness cannot be guaranteed; it
is not intended to be used as the sole basis for financial decisions. If you
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