Financial Insecurity and Mental Illness

[I was misinformed]

Here is the story of an outwardly successful guy ending his life at 36 y.o. His wife attributes his mental illness to an overblown sense of financial insecurity. Of course I am sure the real story must have been more complicated, but this is certainly a striking and very sad case:

Why money worries can be a fatal obsession | Money | The Times & The Sunday Times

(should be accessible as The Times allows a limited number of free articles. Possibly may require a free registration)

I have been a bit of a worrier throughout my life, but fortunately never remotely approaching such extremes...

 

[travelover]

Appears to be behind a paywall, which, depressingly, I can't afford.

 

[MichaelB]

Not accessible for me. This was the caption beneath the lead photo

Mark Hanson and Clare Francis at their wedding in 2007. Despite career success and a happy marriage, he was fighting a battle against depression and anxiety focused on his finances

and this was the first paragraph.

The statistic is stark: one in four of us will have a mental health problem each year. Even if you are not affected personally, the chances are that you will know someone who is, or has been.

That one in four number sounds like a real stretch to me (although it may happen tomorrow depending on who wins the Superbowl tonight).

 

[athena53]

That one in four number sounds like a real stretch to me (although it may happen tomorrow depending on who wins the Superbowl tonight).

They could be using that definition very loosely. Both DS and I have had counseling several times in our lives- DS to help manage his ADHD and me at various times when I needed mid-course corrections, although I haven't been in one-on-one counseling (and haven't felt the need for it) since I divorced my first husband. Last week I started with a Grief Support Group even though I'm functioning very well after losing DH and my mother last year within a month of each other.

So, all of those could be classified as "mental health issues" although, thank God, they're not of the severity described in the article.

 

[easysurfer]

Sometimes I wonder how would I react if I lost all my finances.

 

[Car-Guy]

Amazing to me that anyone could/would commit suicide over the loss of a bunch of paper. (well cotton and linen) Or I guess it's bits and bytes in todays world.

 

[W2R]

Like many of us, when I was first starting out and struggling to pay for university I was extremely, wretchedly poor. I learned that I am tough and can survive and retain my self respect no matter how dismal my financial situation may be.

This fellow apparently never had the opportunity to learn these life lessons, I would guess, although I can't access the full article. Had he done so, he would have realized that the possibility of being poor isn't the end of the world. When he had mental health issues I guess he fixated on his fear of poverty. It's sad, really.

I wonder - - my greatest fear is death (not imminent, but some day, since sadly, I am not immortal ). Maybe if I was one of those who died and then was revived by doctors, I wouldn't fear death either. The fear of the unknown would go away once the unknown was known.

 

[I was misinformed]

Appears to be behind a paywall, which, depressingly, I can't afford.

I am very sorry that this seems to be hidden for many folks. I registered for free some time ago and get daily email headlines and access to several full articles each week.

 

[MRG]

Amazing to me that anyone could/would commit suicide over the loss of a bunch of paper. (well cotton and linen) Or I guess it's bits and bytes in todays world.

Sadly people take their lives for much less significant issues.

The number of people who have mental illness is large IMHO. Think about anxiety, minor depression.... I am of the opinion 1 in 4 could be correct.

I still recall my first ever panic attack sending me to the ER thinking I was having a heart attack, my Megacorp insurance had no mental coverage.

 

[easysurfer]

I couldn't read the entire article either. I unblocked my ad blocker but didn't want to subscribe just to to read the article.

I'd like to think if I lost all my money, I wouldn't get desperate and do what I'd never thought I'd be doing, but you never know. Seems a lot easier to say, I'm strong and things would never reach that point. But, when circumstances change, you never know.

I guess a comparison is if somehow I got stranded on a deserted island. While I'm safe now, I can say "I'll never eat bugs". But after a day or two of starving at the island, the thought of roasted grasshoppers might seem pretty good.

I read stories about during stock market crash of 1929, how folks took their own lives feeling all is lost.

I suppose a moral of the unread story is to not let a financial number define who you are, your existence.

 

[ER Eddie]

The number of people who have mental illness is large IMHO. Think about anxiety, minor depression.... I am of the opinion 1 in 4 could be correct.

It's correct. People hear "mental illness," and they think severe depression, bipolar, schizophrenia -- stuff like that. But look at the DSM sometime (that's the manual listing diagnosable mental conditions). It includes all kinds of ailments -- childhood issues of one kind or another (huge area), substance abuse/dependence (very common), adjustment problems (easy to qualify for one of these), personality issues (very common), all sorts of mood issues (very common), anxiety issues (extremely common), cognitive issues (common), and much, much more.

It goes on and on, and it gets bigger each revision. I joke sometimes that the next DSM will include "Bad Hair Day Disorder" as a diagnosable condition.

 

[redduck]

... I am not immortal ).

That has yet to be determined.

 

[Nemo2]

That has yet to be determined.

"So far, so good."

 

[Bestwifeever]

Since I couldn't read the whole article I searched for the couple's names and apparently the young man suffered from and had been treated for severe depression for more than ten years. I think he would have killed himself eventually no matter what. Poor guy, poor wife.

 

[Bamaman]

It's correct. People hear "mental illness," and they think severe depression, bipolar, schizophrenia -- stuff like that. But look at the DSM sometime (that's the manual listing diagnosable mental conditions). It includes all kinds of ailments -- childhood issues of one kind or another (huge area), substance abuse/dependence (very common), adjustment problems (easy to qualify for one of these), personality issues (very common), all sorts of mood issues (very common), anxiety issues (extremely common), cognitive issues (common), and much, much more.

It goes on and on, and it gets bigger each revision. I joke sometimes that the next DSM will include "Bad Hair Day Disorder" as a diagnosable condition.

It's just a shame that so many people have more than one of the above problems. They seldom have one, and numerous Meds are required. And it's a shame that the Meds make them feel bad. Those with mental issues just won't stay on their medicine regiment. Look up, and they won't even go to the doctor or try to help themselves.

Family and good friends are quickly alienated until they just disappear. Bipolars and many with personality issues have takers, unemployed, thieves and other severely depressed people around them--just what's not needed. Throw in illegal drugs when they self medicate and their situation is very legally volatile--especially if children are involved.

That's where we are with our bipolar daughter. I understand someone having the problem, but throw in bad manners and narcissism and it's like there's no way out. We've been putting up with her 10 years.

Note: Such individuals cannot be trusted with money, and they'll suck parents dry. About all we can do is set up a Special Needs Trust that pays utility bills, insurance and the most basic needs. They cannot get their hands on any assets.

 

[W2R]

... I am not immortal ).

That has yet to be determined.

"So far, so good."

Hey, if I turn out to be immortal, that would be even BETTER than living in my Dream House! I think it would be really super to throw a huge bash to celebrate, oh, say my 5427th birthday. Might even get really wild and toast it with a glass of wine.

 

[I was misinformed]

Hey, if I turn out to be immortal, that would be even BETTER than living in my Dream House! I think it would be really super to throw a huge bash to celebrate, oh, say my 5427th birthday. Might even get really wild and toast it with a glass of wine.

If we have too many immortals here at E-R.org, presumably a redisign of FIRECalc will be called for? Indeed the whole idea of "early retirement" might need to be reconsidered.

 

[Nemo2]

I thought I'd already reached that status......until I noticed the 't' in the spelling.

 

[MRG]

If we have too many immortals here at E-R.org, presumably a redisign of FIRECalc will be called for? Indeed the whole idea of "early retirement" might need to be reconsidered.

Indeed much would change if we became immortal. Including our desire to be immortal.

 

[NW-Bound]

Indeed much would change if we became immortal. Including our desire to be immortal.

Immortality may be tolerable if our physical condition stays the same. With the constant deterioration like we all face, longevity certainly becomes a curse at some point. Usually, it's around 90 to 100 for people I know.

PS. I say "tolerable" because I do not know how I would feel if I survive everybody I know. I will never find out, so it's a no problem really.

 

[W2R]

If we have too many immortals here at E-R.org, presumably a redisign of FIRECalc will be called for? Indeed the whole idea of "early retirement" might need to be reconsidered.

I'd be happy to report on the success (or lack of same) of a 1.5% WR over the next billion centuries, if ever given the chance.

 

[Nemo2]

I'd be happy to report on the success (or lack of same) of a 1.5% WR over the next billion centuries, if ever given the chance.

Imagine the look on the face of the guy that sold you an annuity.

 

[MichaelB]

I'd be happy to report on the success (or lack of same) of a 1.5% WR over the next billion centuries, if ever given the chance.

I bet everyone will still be arguing about whether or not to pay off the mortgage.

 

[W2R]

Imagine the look on the face of the guy that sold you an annuity.

Wouldn't that be priceless? And as for those that are pooh-pooh-ing the idea because of physical decline that they imagine might be associated with immortality, all I can say is "SOUR GRAPES! You know you want it."

 

[W2R]

I bet everyone will still be arguing about whether or not to pay off the mortgage.

In the distant future, when the median home price is 900 billion dollars, everyone will marvel at my brilliance at paying off my home for peanuts in 2006. The youngest generation will still be bitterly complaining at how much easier it was for me than for them.