Imploding mortgages.
Escalating tuitions.
Rising living expenses.
Impending job losses.
Surprising elder care costs.
Shocking medical bills.
Dwindling retirement savings.
Given this litany of life pressures, is it any wonder that Baby Boomers are seeking solace in the bottle? Not a good coping mechanism, just not a surprising one. A study just published in the American Journal of Psychiatry reported that 23% of men and 9% of women age 50-64 consumed at least five alcoholic beverages in a day during the previous month. More men admitted to binge drinking, while women proved better at hiding it.
Perhaps the time has come to dial back on personal commitments, and to ask dependents to ease the pressure by taking on some age-appropriate responsibilities. One great cost control technique—learning to differentiate between needs and wants. It’s an effective discipline that can be practiced with every purchase.
A note to President Obama et al: if you ever needed empirical evidence that stress management should be an essential element of any wellness or health program…this is it!