The mental health risks of retiring

The late Pamela Hixon of Leipsic, Ohio, was eager to retire from her job running a hospice agency. Soon after she quit, however, Hixon spiraled into depression and anxiety. She sought help from counselors and her pastor, but it wasn’t enough. Six months after retiring, she took her own life.

“She lost purpose, she lost significance, she lost a sense of meaning in her life,” says her son Tony Hixon , a Findlay, Ohio-based wealth manager who wrote about the experience and how it transformed his financial planning practice in a book, “Retirement Stepping Stones: Find Meaning, Live with Purpose, and Leave a Legacy.”

Overall, retirees are a contented bunch and many report being happier in retirement than they were at the end of their careers. Older adults are less likely than younger people to experience major depression, says Brent Forester, president of the American Association for Geriatric Psychiatry.

In my latest for the Associated Press, how to manage the challenges of retirement and how to get help.

Related Posts

  • Monday’s need-to-know money news Today's top story: After a fall, crypto winter sets in. Also in the news: A new episode of the Smart Money podcast for kids on where money […]
  • Q&A: Consider taxes before retirement Dear Liz: I began converting two 401(k)s from previous employers to Roth IRAs. To lessen the huge tax hit, I decided to do the conversions […]
  • Tuesday’s need-to-know money news Today's top story: How to avoid bad money advice. Also in the news: A new episode of the Smart Money podcast on being creative with money, […]
  • Q&A: Reducing taxes in retirement Dear Liz: It appears required minimum distributions will force me to take an additional $3,500 per month from my retirement funds starting […]