America’s Mental Health Epidemic

“Be sure to give each other a lot of grace and be kind and forgiving to each other. We’re all experiencing heightened levels of uncertainty and anxiety right now. Giving an extra beat of patience to others is critical.” Dani Fallin, chair of the Department of Mental Health at the Johns Hopkins Bloomberg School of Public Health

The mental health impact of COVID-19 are real, widespread and growing exponentially. The immense stress and emotional trauma experienced by vulnerable individuals, families and households amid the pandemic has given rise to an unprecedented mental-health crisis. Additionally, there’s strong evidence showing that social isolation and distancing can increase symptoms of mental illnesses like depression and anxiety.

Data is staggering

The latest data reveals some of the most frightening and staggering spikes in anxiety, depression, substance use, drug overdose and suicide rates that behavioral-health experts have ever witnessed, according to Babette Hankey, president/CEO of Aspire Health Partners in Orlando.

A recent survey by the Centers for Disease Control and Prevention on adult mental health found that more than 40% of U.S. adults have reported at least one mental health issue during this pandemic, and more than 1 in 10 adults had seriously considered suicide. During this period, 7 out of 10 young adults (18-24 years old) reported experiencing symptoms of anxiety and depression and more than 25% have seriously considered suicide.

In the wake of the coronavirus COVID-19 outbreak, many people may feel anxiety or stress.

Everyone responses differently

Everyone reacts differently to stressful situations such as the seemingly enduring COVID-19 pandemic infectious disease outbreak. It is normal to experience a wide range of emotions. Yet, it’s important for people to take care of themselves physically, emotionally, and mentally.

According to the CDC study, the rate of substance abuse and/or suicidal thoughts among unpaid caregivers more than tripled between May and the end of June.

Older Americans appear to be more resilient to the strain of the pandemic compared to the young: The study found rates of anxiety, depression, substance abuse and suicidal thoughts were most prevalent among those aged 18 to 24, and the prevalence of these issues “decreased progressively with age.”

Black and Hispanic Americans tended to have higher rates of mental health issues tied to the pandemic than did whites, the study also found.

Of course, unemployment or the threat of it is a major source of anxiety for millions in 2020. So, efforts aimed at “strengthening economic supports to reduce financial strain” should be part of an effort to boost mental health, the researchers said.

According to the CDC, reactions during the outbreak can include:

  • Fear and worry about your health status and that of your loved ones who may have been exposed to COVID-19.
  • Increase levels of stress, anxiety, hopelessness and depression.
  • Changes in sleep or eating patterns.
  • Difficulty sleeping or concentrating.
  • Worsening of chronic health problems.
  • Increased use of alcohol, tobacco, or other drugs.

Learning to cope with anxiety and stress

Figuring out ways to cope with anxiety and stress can help you, your loved ones and your community. If stress begins to interfere with your daily life, reach out to your healthcare provider.

These numbers, although startling, are unsurprising to mental health experts given the emotionally taxing measures local and state governments have taken to reduce the spread of the virus: children and grandchildren have been separated from their parents and grandparents; students are prevented from attending school; and the sick and dying have been denied the embrace of loved ones.

During this unique moment in the nation’s history, American society and economy have slowed down, we’re experiencing unprecedented social unrest and political rancor, and, many have been left feeling powerless and uncertain about their physical health and financial wellbeing as well as that of their loved ones.

https://youtu.be/60kGONUJSRY

The importance of self-care during this challenging time.

“Seek out ways to have social and professional engagement while adhering to social distancing…can help people feel connected socially with their colleagues, family, and friends, and maintain a sense of belonging.” Dani Fallin, chair of the Department of Mental Health at the Johns Hopkins Bloomberg School of Public Health

  • Avoid excessive exposure to media coverage of COVID-19. Be aware and conscious of your news and media intake. The more time you spend consuming news about the pandemic, the more likely you are to feel anxious and concerned. That’s especially true at home, when you’re able to access news media 24/7.
  • Take care of your body. Take deep breaths, stretch or meditate. Eat healthy, well-balanced meals, exercise regularly, get plenty of sleep and avoid alcohol, smoking and drugs.
  • Make time to unwind and remind yourself that strong feelings will fade. Take breaks from watching, reading, or listening to news stories. It can be upsetting to hear about the crisis and see images repeatedly. Try to do some other activities you enjoy to return to your healthy life.
  • Learn a new hobby or skill like gardening, a foreign language or a musical instrument. Devote yourself to learning and growing everyday.
  • Connect with others. Share your concerns and how you are feeling with a friend or family member. Maintain healthy relationships.
  • Maintain a sense of hope that “this too shall pass” and maintain positive outlook and thinking. Have faith in your inherent resilience to persevere and overcome life’s extraordinary challenges brought on by the pandemic.

Take care of your mental health

Mental health is an important part of overall physical health and emotional wellbeing. It affects how we think, feel, and act. It may also affect how we handle stress, relate to others, and make choices during uncertain situations or an emergency.

Again, we stress to contact your healthcare provider if you think you have new or worsening mental health symptoms or stress (or anxiety) gets in the way of your daily activities for consecutive days.


References:

  1. https://www.cdc.gov/coronavirus/2019-ncov/daily-life-coping/managing-stress-anxiety.html
  2. https://www.orlandosentinel.com/opinion/guest-commentary/os-op-coronavirus-mental-trauma-aspire-health-20200914-xw7kcjahvbfrlgcd2s4bmvbmzi-story.html
  3. https://www.webmd.com/lung/news/20200813/levels-of-anxiety-addiction-suicidal-thoughts-are-soaring-in-the-pandemic#1
  4. https://hub.jhu.edu/2020/04/06/dani-fallin-mental-health-challenges-coronavirus/

Vanguard will offer Private Equity Investments

Vanguard turns to what many view as the ‘dark side’ of investing, the world of complex, exclusive, expensive private equity investments

Vanguard Group plans to offer a private equity investments which will be managed by an outside firm called HarbourVest Partners. Initially, the private equity investment will be available only to institutions such as endowments and nonprofit foundations. But, Vanguard intends to move quickly beyond institutional investors.

Over time and as regulations change, Vanguard hopes to offer these private equity strategies to its individual, non-qualified retail investors.

Typically, private equity firms charge fees that are 2% of assets a year in management fees, plus 15% to 20% or higher of total returns in annual performance fees. Generally, money is locked up for years with little liquidity. This is why the U.S. Securities and Exchange Commission has long kept smaller, non qualified investors out of them.

In a statement, Vanguard chief executive Tim Buckley said, “Private equity will complement our leading index and actively managed funds, as we seek to broaden access to this asset class and improve client outcomes. While this strategy will be initially available to institutional advised clients, we aim to expand access to investors in additional channels over time. For individual investors in particular, this partnership will present an incredible opportunity — access and terms they could not get on their own.”

Contrasting Viewpoint

Eric Walters, founder of Silvercrest Wealth Planning, believes Vanguard’s move is “fraught with risks.” He added, “I think it could work if they are able to access top-quartile private equity managers, most of which are closed to new subscriptions”. Additionally, he added, “Managers below the top quartile often don’t do any better than public equities and often do worse. When you add the high fees and long holding periods, accessing lower-tier managers would be a bad deal for Vanguard clients.”

About Vanguard

Vanguard is one of the world’s largest investment management companies. As of December 31, 2019, Vanguard managed $6.2 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers 424 funds to its more than 30 million investors worldwide. For more information, visit vanguard.com.

About HarbourVest

HarbourVest is an independent, global private markets investment specialist with over 35 years of experience and more than $68 billion in assets under management, as of December 31, 2019.


References:

  1. https://www.forbes.com/sites/antoinegara/2020/02/05/vanguard-pushes-into-private-equity-by-accessing-dealmakers-like-stephen-schwarzman-robert-smith-and-orlando-bravo/#3431f0bf2760
  2. https://www.harbourvest.com/news/vanguard-and-harbourvest-announce-private-equity-partnership
  3. https://www.inquirer.com/business/vanguard-harbourvest-mortimer-tim-buckley-private-equity-20200206.html
  4. https://www.investmentnews.com/vanguard-puts-private-equity-investments-on-the-menu-187888