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Perhaps most startling was the finding that individuals who suffered significant wealth losses were 50% more likely to die within the following two decades. This correlation underscores the intense emotional and physical stress that financial disasters can inflict, leading to declines in health and well-being.
Understanding Wealth Shocks
While the study did not delve into the exact causes of financial decline, it noted common events that correlated with higher mortality rates, including foreclosures and significant drops in home equity, particularly around the time of the Great Recession. This foresight establishes a critical need for individuals to address their financial stability proactively.