Finance Rules: EBW Financial News Radio
“To hear the financial services industry tell it, retirement looks like a distinguished gray-haired man and an attractive silver-haired woman walking hand in hand down a magnificent beach, enjoying the sunset while gazing lovingly and contentedly into each other’s eyes,” says Certified Financial Planner Pressman. “They don’t have a care in the world, and why should they? They are retired.”
But there is a dark side of retirement that no one talks about, he insists.
In this podcast interview:
- Pressman points to statistics from the Substance Abuse and Mental Health Services Administration that show the proportion of older people treated for a combination of cocaine and alcohol abuse tripled between 1992 and 2008. Cocaine abuse among the elderly was the leading cause of hospital admissions involving drugs, even outpacing admissions for prescription drug abuse.
- And according to the Centers for Disease Control and Prevention: Among Americans of all ages, 12.4 per 100,000 will take their own life each year. Among people over age 65, that number jumps to 14.9—and some experts believe the instances are under-reported. As startling as those numbers are, white men over age 65 take their own lives at a rate of 29 per 100,000—almost triple the overall rate.
- What can you do about it? Pressman suggests asking yourself, or your loved one who has retired, some important questions.
Download the podcast now to learn more!
Discover more insights into planning ahead for retirement from Pressman and his team at Egan, Berger & Weiner, LLC at EBWFinancialNews.com.