When we think about post-traumatic stress disorder, we typically envision combat, tornadoes, and hurricanes. But PTSD is not limited to life-threatening events. Events threatening financial security (and even career-security) can be very traumatic.
A recent study reported in Health & Social Work examined the risk of PTSD associated with sudden and dramatic personal financial loss. The authors conducted a survey of 173 Madoff victims and found that 58% met the criteria for the PTSD diagnosis, 61% acknowledged high levels of anxiety, 58% were depressed and 34% had health-related issues. Moreover, 90% of these victims felt a substantial loss of confidence in any financial institutions.
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