Bill preventing states from creating portable retirement savings account could aggravate anxiety in elderly

Bill preventing states from creating portable retirement savings account could aggravate anxiety in elderly

Randy has worked hard all his life, ensured that his children got an education at private schools, and had a college fund. He has diligently paid the mortgage on his impressive house, lives in an upscale neighborhood and has always paid his taxes on time. But now, Randy is worried.

The U.S. House of Representatives passed a bill that prevents states from creating portable retirement savings accounts, and a new survey found that 75 percent of Americans supported their decision.

A few weeks after this decision came, the National Institute on Retirement Survey (NIRS), revealed that 85 percent of the elderly polled in a survey felt that the politicians just didn’t seem to understand how hard it is for people to plan for their retirement. In hindsight, if such bills were passed then the senior citizens might be looking at a poverty rate similar to that observed during the Great Depression.

The report further stated that of the 18 million workers in the U.S., aged between 55 and 64 years in 2012, more than four million would either be poor or near poor when they were about to retire. This figure included 2.6 million people who were considered to be middle-class Americans before they retired.

Threat looms large, no solution in sight

The threat is real and is here to stay. An astounding 83 percent democrats were in favor of those working without state-sponsored plans, while amongst the Republicans that number declined to 72 percent. Social security was a keen area of interest when this was discussed, and talk of benefit cuts did not particularly sit well with the people.

The survey also sought answers to questions such as whether the government should cut costs in all areas, including social security benefits for people who were retired, and the response was a lukewarm 24 percent.

In addition to these, there were more findings from the survey, which indicated a rather gloomy picture. 55 percent people from the surveyed group strongly believed that the country faced a retirement crisis. In perhaps the most relevant and poignant statistic to have emerged from the survey, 80 percent of the people polled believed that the average worker “could not save enough on their own to secure a decent retirement”. An important point being made, as America looks toward the future of decisive policy-making. 82 percent people also believed that the government should take relevant steps in the direction of making it easier for retirees to access pension plans.

Anxiety can be cured

In Randy’s case, it is easy to develop anxiety and stress about the imminent future for him and his wife. Pushing at the retirement age, it is not an easy pill to swallow, where one doesn’t know where the funds for the most necessary of things, like medicines, is going to come from.

Factors such as these affect an individual and cause major stress and anxiety, which might even lead to depression if the circumstances go untreated. Sovereign Health, one of the leading mental health centers in California, and an excellent option for those who want to live a stress-free life, offers innovative treatment programs and expert medical staff to help an individual turn his life around and get rid of mental disorders such as anxiety and depression.

If you or your loved one is suffering from anxiety, call our 24/7 mental health helpline number 866-973-7164 for further assistance on anxiety disorder treatment centers in California. You can also chat online with our experts for more information on anxiety treatment centers in California.

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