Experts warn that if Social Security and Medicare benefits are reduced, then suicide rates among elders could increase. Such an additional financial stress could inadvertently tip the scales for some seniors after forcing them to rely on dwindling personal savings. Elders are also less likely to acknowledge suicidal thoughts than other age groups, making it difficult to seek help at the appropriate time. Compassion can be an efficient way to reduce financial stressors, but all financial advisors should be aware of suicidal signs.
See Ted Knutson, Senior Suicides Could Rise if Social Security and Medicare Cut, Experts Warn, Financial Advisor, January 5, 2017.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
