The survey, Paying with Our Health finds, money continues to be the leading cause of stress for Americans. When we think of health, we think about diet and exercise. Both very important, but stress can undo a lot of the good you accomplish from diet and exercise.
Financial worries served as a significant source of stress for 64 percent of adults, ranking higher than three other major sources of stress: work (60 percent), family responsibilities (47 percent), and health concerns (46 percent).
Money is a very important component of establishing a healthy, secure life. When we are financially challenged, it makes sense that our stress level would go up. This is true at any age. Financial stress affects everyone, and to an increasing degree, retirees. You must be prepared for retirement with sufficient income. Yes, I said… income. Income to pay bills and live the life you want to live. Rolling the dice in the stock market, for income you will 100% need, is the wrong way to go about it too! Wall Street does not want you to know this! Risk only adds more stress.
Stress will shorten your life and make it less worth living. Be prepared for the ‘income’ you will need when your paycheck stops. Women are more likely than men to report money as a significant source of stress too. Women need to find out what their guaranteed income options are as early as possible, to avoid stress in retirement. Inflation for retirees can be a silent killer and exacerbate their money worries. We don’t want to feel squeezed, in terms of taking care of our daily needs.
Talk about money stress and health, 20 percent of adults said they have skipped or considered skipping going to the doctor for treatment because of money concerns. Almost one-third of adults with partners report that money is a major source of conflict resulting in intimacy distance.
Some things to think about; live below your means, realize the payments from unnecessary purchases far outlast the pleasure, establish a saving habit, and do not spend money you do not have. Be prepared and if necessary, do not be afraid to seek emotional support from family, friends and even health and wealth coaches. People without any support tend to suffer worse.
To combat money stress, the best thing… is to be prepared; manage your money to reduce stress. Decrease risk, it does not pay like ‘they’ say it does. Realize most of what you think you know about money, investing, and retiring is taught by people selling something. The money world, the financial world is somewhat of a matrix that you need to break out of, to wake up from. Wake up!