Older Americans have been most impacted by the current economic slump and its implications need to be dealt with, experts have said.
The researchers revealed, during a symposium at The Gerontological Society of America's (GSA) 61st Annual Scientific Meeting, that the financial crisis had set worrying trends for the aged Americans that showed its affect on their retirement accounts.
Depression
Depression is one of the most common mental disorders affecting approximately 340 million people in the world. No one is immune from depression - it occurs in people of all social classes, all countries and all cultural settings.
Advertisement
Richard W. Johnson, PhD, principal research associate at the Urban Institute, said: "The slumping stock market, falling housing prices, and weakening economy have serious repercussions for the 94 million Americans age 50 and older who are approaching retirement or already retired.
"Older Americans have little time to recoup the values of their homes, 401(k) plans, and individual retirement accounts - all important parts of their retirement nest eggs. More and more older Americans are working to bolster their retirement incomes, but the rising unemployment rate, now 6.5 percent, limits their prospects."
![Economic Crisis Has Serious Implications on an Average American's Health]( "Economic Crisis Has Serious Implications on an Average American's Health")
Today, medical care is so expensive in America that the drop in medical spending is already well underway.
Peter G. Peterson Foundation Vice President C. Eugene Steuerle, PhD, another speaker at the symposium, which was an outreach of GSA's public policy initiative session, confirmed the extent to which the situation had spread.
He said: "The current financial crisis has involved a loss in the U.S. of perhaps 15 trillion dollars and a world-wide loss several-fold larger; these are numbers that vary widely from week to week. Among those most affected are those who were planning on spending down their assets in retirement or as they move toward retirement".
Source: ANI
SRM
Economic Crisis Has Serious Implications on an Average American's Health
Today, medical care is so expensive in America that the drop in medical spending is already well underway.
Advertisement
Peter G. Peterson Foundation Vice President C. Eugene Steuerle, PhD, another speaker at the symposium, which was an outreach of GSA's public policy initiative session, confirmed the extent to which the situation had spread.
He said: "The current financial crisis has involved a loss in the U.S. of perhaps 15 trillion dollars and a world-wide loss several-fold larger; these are numbers that vary widely from week to week. Among those most affected are those who were planning on spending down their assets in retirement or as they move toward retirement".
Source: ANI
SRM
Socio-economic Factors Influence Life Expectancy
A new report by the Alameda County Public Health department titled "Life and Death from Unnatural Causes in Alameda County," has indicated the relationship between environment
Advertisement
 US Economic Crisis Takes Toll on Mental HealthThe murder suicide of a Los Angeles financial manager who shot dead five members of his family before shooting himself has highlighted the psychological toll of the economic meltdown. | Advertisement
|
Advertisement
Latest Senior Health News
In aged mice, decitabine, the anti-cancer drug demonstrated enhancements in vascular repair, inflammation resolution, and overall survival.
Approximately one in three people may contract the chickenpox virus by age 80. Despite Japan's approval of the live VZV vaccine in 2016, its uptake remains limited.
Walking 7000 steps was found to have a positive impact on lowering blood pressure, a key factor in reducing the risk of heart-related issues among elderly.
Digestive illnesses among older adults result in increased levels of loneliness and depression, which in turn have a detrimental effect on overall health.
Using eye-tracking technology in dementia care facilities improves online assessments, allowing older individuals to self-report on care and quality of life.
