Depression and the Holidays: Some Friendly Advice from a Financial Adviser
Now is the time to be on the lookout for the signs that someone may need a boost. Or maybe you could use a little help yourself?
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
Did you know there is a condition called Seasonal Affective Disorder? “SAD” (no pun intended) is when people get depressed during certain seasons of the year. For most, the fall and winter are the most difficult times of the year. The shorter exposure to sunlight is often believed to be the trigger.
As a CERTIFIED FINANCIAL PLANNER™ professional who specializing in working with widows and divorcees, I find that they tend to be the saddest around the holidays, for obvious reasons. Most might have a heightened feeling of the loss they have suffered in their lives, starting around Thanksgiving.
To help, as a person who has lost her spouse and started the long journey to heal, I wanted to shed some light on the subject.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Be aware of the signs
Those who are depressed typically lose interest in things they love and can withdraw socially. They commonly have very low energy levels. They might also have trouble sleeping or more likely have a desire to sleep too much. Changes in weight might results from depression. An inability to make decisions might also occur.
Substance abuse can be something serious to watch out for. Damaged relationships with friends, family and co-workers might arise. Some individuals may even have suicidal thoughts.
I point these signs out because, if collectively we are on the lookout for those struggling with severe depression, we can better help those who are in true need of assistance.
Get help
Doctors have many different specialties in this area and can be of great assistance. Do not hesitate to get help if a loved one, or yourself, is showing signs of depression. Therapy and/or medications might be the solution.
Religious leaders not only help with funerals and other things, but they can be wonderful listeners. Plus, being reminded that God is with us every step of the way can be incredibly uplifting. Knowing this and praying can truly can be the best medicine.
Grief or support groups can be therapeutic. Although no situation is exactly the same, others who are suffering from or have struggled with depression can be great shoulders to cry on. Sometimes friends or family members are helpful, but unless they have had their own issues, they might not truly understand what someone is dealing with. A specific group with similar struggles might be what is needed.
Even a financial planner can help talk about money and other things that often can add stress to one’s life, especially if the deceased spouse or ex-husband/ex-wife managed the finances. For many, they do not have the knowledge, desire or even time to manage their investments for or in retirement. Involving an expert who is patient to work with a person who is distraught about things, including money, can be such a relief.
Remember, you are never alone. Depression is very common, and all of us will suffer from it to some degree in our lives. Although the holidays are a joyful season for most, they can be extremely sad times for others. Please make an extra effort to reach out to those who might be struggling, starting this November.
Securities and Advisory Services offered through Cadaret, Grant & Co., Inc., a Registered Investment Adviser and Member FINRA/SIPC. HMS Financial Group and Cadaret, Grant & Co., Inc. are separate entities.
-
5 Vince Lombardi Quotes Retirees Should Live ByThe iconic football coach's philosophy can help retirees win at the game of life.
-
The $200,000 Olympic 'Pension' is a Retirement Game-Changer for Team USAThe donation by financier Ross Stevens is meant to be a "retirement program" for Team USA Olympic and Paralympic athletes.
-
10 Cheapest Places to Live in ColoradoProperty Tax Looking for a cozy cabin near the slopes? These Colorado counties combine reasonable house prices with the state's lowest property tax bills.
-
Don't Bury Your Kids in Taxes: How to Position Your Investments to Help Create More Wealth for ThemTo minimize your heirs' tax burden, focus on aligning your investment account types and assets with your estate plan, and pay attention to the impact of RMDs.
-
Are You 'Too Old' to Benefit From an Annuity?Probably not, even if you're in your 70s or 80s, but it depends on your circumstances and the kind of annuity you're considering.
-
In Your 50s and Seeing Retirement in the Distance? What You Do Now Can Make a Significant ImpactThis is the perfect time to assess whether your retirement planning is on track and determine what steps you need to take if it's not.
-
Your Retirement Isn't Set in Stone, But It Can Be a Work of ArtSetting and forgetting your retirement plan will make it hard to cope with life's challenges. Instead, consider redrawing and refining your plan as you go.
-
The Bear Market Protocol: 3 Strategies to Consider in a Down MarketThe Bear Market Protocol: 3 Strategies for a Down Market From buying the dip to strategic Roth conversions, there are several ways to use a bear market to your advantage — once you get over the fear factor.
-
For the 2% Club, the Guardrails Approach and the 4% Rule Do Not Work: Here's What Works InsteadFor retirees with a pension, traditional withdrawal rules could be too restrictive. You need a tailored income plan that is much more flexible and realistic.
-
Retiring Next Year? Now Is the Time to Start Designing What Your Retirement Will Look LikeThis is when you should be shifting your focus from growing your portfolio to designing an income and tax strategy that aligns your resources with your purpose.
-
I'm a Financial Planner: This Layered Approach for Your Retirement Money Can Help Lower Your StressTo be confident about retirement, consider building a safety net by dividing assets into distinct layers and establishing a regular review process. Here's how.
