NewsMakers
How millennials’ financial attitudes, habits differ by gender
Compared to their male counterparts, female millennials generally report being much more risk-averse, skeptical of alternative investments – including cryptocurrencies and peer-to-peer lending – and have, on average, only saved about two-thirds as much money for retirement as their male peers.
As the saying goes, “men are from Mars, women are from Venus.” But when it comes to how each sex approaches their finances, the two groups might as well be from different universes, according to findings from the PNC Investments Millennials & Investing Survey.
Compared to their male counterparts, female millennials generally report being much more risk-averse, skeptical of alternative investments – including cryptocurrencies and peer-to-peer lending – and have, on average, only saved about two-thirds as much money for retirement as their male peers.
When comparing how millennials invest, the study finds men have greater appetites for higher-risk investing avenues. Fourteen percent of millennial men report that they “embrace” risk – double the number of female millennials reporting similar sentiment.
“One of the foundational aspects of any financial plan is to determine your overall risk tolerance, and for members of the younger generation, risk can be healthy,” said Rich Ramassini, CFP, senior vice president and director of strategy and sales performance for PNC Investments. “People’s appetite for risk is often not on par with how much risk they can actually handle. Increasing your financial knowledge can help you determine whether you are taking on the right amount of risk.”
Though parents of female millennials started educating their daughters about saving earlier than parents of male millennials (age 11.6 for females vs. 12.7 for males), more female millennials than male millennials admit they are not as confident in their financial management skills.
According to PNC’s study, male millennials are more likely to rely on themselves and knowledge they attain through media and internet sources. In fact, male millennials are twice as likely as their female cohorts to consume content from recognized national media outlets.
Millennials’ retirement savings habits
Forty-six percent of female millennials contribute 6 or more percent of their income toward retirement, compared to 57% of male millennials, the survey found.
“Millennials now represent the largest portion of the workforce in the country, and most members of the generation have decades to go before they retire. Because millennials have time on their side, they should make investing for retirement a priority early on in their career,” Ramassini said. “One of the best ways to stay ahead of inflation and help set yourself up for a successful retirement is to invest your money in a diversified portfolio designed to achieve long-term goals.”
To that point, the survey also explores the amount each group has in investable assets. Among respondents, 29% of female millennials report having between $1,000 – $9,999 in investable assets, compared to 17% of men. At the same time, 46% of male millennials report having $50,000 or more in investable assets, whereas only 32% of female millennials report the same.
However, only 28% of millennials report having a solid understanding of how to successfully invest their money.
Millennials’ employment rates and confidence levels
Approximately eight out of 10 millennials say they have full-time jobs (83% of men and 78% of women). Though the demographic has a high rate of employment, a relatively small percentage of respondents from both sexes agree they feel in control of their financial well-being (32% of women compared with 43% of men), and even fewer are confident they’re saving enough for the future (26% of women compared with 40% of men).
“It’s critical that both female and male millennials take actionable steps – including making concerted efforts to save for retirement, participating in the markets and building a solid emergency fund – to ensure their future is not in jeopardy,” Ramassini said. “Given the findings of this survey, we encourage millennials to seek assistance from qualified financial advisors who can help make sure they are on the path to securing a strong financial future.”
NewsMakers
Common drug class may increase risk of heart disease
The risk of cardiovascular disease increased in line with how much anticholinergic medication the participants used each year. Those with the highest exposure had a 71 per cent higher risk of a cardiovascular event than people who did not use anticholinergic medication at all.
People who use drugs with anticholinergic effects, including certain antidepressants, drugs for urinary incontinence and common antihistamines, are at higher risk of developing cardiovascular disease.
This is shown in a study from Karolinska Institutet published in BMC Medicine.
Anticholinergic drugs reduce the effect of the neurotransmitter acetylcholine and are commonly prescribed to middle-aged and older people. This large group of drugs includes antihistamines used for allergic conditions, anxiety or insomnia, drugs for urinary incontinence, and certain antidepressants, where tricyclic antidepressants have a strong anticholinergic effect, whereas SSRIs have a weaker effect. A high cumulative use of these drugs, referred to as anticholinergic burden (see fact box), has previously been linked to impaired cognitive ability.
May affect heart regulation
The new study suggests that the drugs may also affect the parasympathetic nervous system and thereby the regulation of the cardiovascular system. The results show that it may be important to monitor the total drug burden in everyday clinical practice.
The study included more than 500,000 people in Stockholm, Sweden, who were 45 years of age or older and had no prior cardiovascular disease, except for hypertension, at the start of the study. The researchers followed the participants for up to 14 years and analysed how the use of anticholinergic drugs was associated with the development of cardiovascular disease.
“Many of these drugs are used by older people and by people with multiple medical conditions. We wanted to investigate whether the total exposure had any significance for the risk of developing cardiovascular disease over time,” says Nanbo Zhu, postdoctoral researcher at the Department of Neurobiology, Care Sciences and Society, Karolinska Institutet.
71 per cent higher cardiac risk
The study showed that the risk of cardiovascular disease increased in line with how much anticholinergic medication the participants used each year. Those with the highest exposure had a 71 per cent higher risk of a cardiovascular event than people who did not use anticholinergic medication at all. The association was seen for all types of cardiovascular disease but was particularly clear for heart failure and various forms of arrhythmia.
“Our results indicate that the cumulative drug burden can affect heart regulation, not only in the short term but also over the long term. This does not mean that the drugs should always be avoided, but that exposure should be monitored carefully,” says Hong Xu, assistant professor at the Department of Neurobiology, Care Sciences and Society.
The researchers point out that the study is observational, meaning it cannot establish a causal relationship. Other factors, such as underlying diseases, may also influence the associations.
The work was carried out within the Stockholm CREAtinine Measurements project in collaboration between several research groups at Karolinska Institutet and Region Stockholm. The study was funded by the Swedish Research Council, the Center for Innovative Medicine Foundation, and other foundations. Some researchers report assignments for the pharmaceutical industry, which are disclosed in the scientific publication.
NewsMakers
Mindfulness practices found to significantly reduce depression symptoms, especially for those with early-life adversity
Mindfulness interventions help by regulating our emotions better when different challenges come up. For someone who has experienced childhood neglect or abuse, mindfulness training can help us make sense of that and respond skillfully to this moment in time.
A new study reveals that mindfulness practices may significantly reduce depression symptoms, particularly in people who have experienced early-life adversity, such as childhood abuse and neglect.
Led by Eric Loucks, professor of medicine, epidemiology, and of behavioral and social sciences and director of the Mindfulness Center at Brown, the study enrolled 201 participants, 101 of whom were randomized into the Mindfulness-Based Blood Pressure Reduction Program, while 100 were randomized into an enhanced usual care control, which included home blood-pressure monitors, physician access and health-education materials. Researchers also had a measure of participants’ early-life adversity, particularly their exposure to abuse or neglect.
Loucks and his team followed participants for six months to assess changes in blood pressure, health behaviors and mental health, finding that those in the mindfulness program showed significant improvements in their depression symptoms. Additionally, participants who experienced childhood neglect showed greater improvements in depression symptoms than those who had not. A similar, though less pronounced, trend was observed among people with a history of childhood abuse.
“In this program, that was primarily designed to lower blood pressure while addressing whole-person health, we also saw that mental well-being, particularly around depression symptoms, improved in participants that went through the program,” Loucks said. “The findings suggest that cultivating mindful self-regulation skills–such such as self-awareness, attention control and emotion regulation–may help interrupt maladaptive patterns shaped by past experiences.”
Over the last 15 years, Loucks has been studying social determinants of health such as early-life adversity and its impacts on cardiovascular health, body mass index and blood pressure. “I came to a point where I wanted to not just document it, but do something about it, and I wondered if mindfulness training might help,” he said. “I’d gone through a lot of mindfulness training myself outside of work and started to get trained up in mindfulness programs that are specific to health contexts.”
Loucks began to study the Mindfulness-Based Stress Reduction program, running it through two clinical trials that were funded by the NIH and finding that it reduced blood pressure in both trials. He also wanted to look at the intervention from a whole-person perspective.
“If we look at everyday folks out in the world, those that had exposure to early life adversity, like abuse and neglect, tend to have worse mental health and also worse cardiovascular health,” Loucks said. “Mindfulness interventions help by regulating our emotions better when different challenges come up. For someone who has experienced childhood neglect or abuse, mindfulness training can help us make sense of that and respond skillfully to this moment in time.”
Loucks discussed this work during a keynote address at the U.S. DOHaD Society this year. “It felt like a coming-home moment to see that this intervention, originally developed to address psychosocial factors that influence health, had even stronger effects among people with early-life adversity, particularly on depression,” he said. “It’s been about a 15-year arc of research that culminated in these findings.”
NewsMakers
High-fiber diet linked to reduced risk of heart disease in night shift workers
A moderate intake of about 19 grams of fibre per day was linked to a lower risk for those who worked night shifts regularly. For those who worked night shifts sporadically, about 15 grams was enough. The current recommendation for adults is about 25 grams of dietary fibre per day.
People who work at night have a higher risk of coronary artery disease, a type of heart disease. A new study suggests that a higher fibre intake in the diet may help reduce this risk. The study included over 220,000 adults in the UK and is published in the European Journal of Epidemiology.
The human body is built to sleep at night. This means that working during the night goes against this natural pattern, and can place additional strain on the body, including the heart. Previous research has linked night work to an increased risk of coronary artery disease. Since night work is often unavoidable, the researchers wanted to investigate whether certain dietary habits might have a protective effect.
More fibre associated with lower risk
The researchers used data from 220,000 adults in the UK Biobank (2006–2010) and divided the participants into three groups:
- Day workers
- Shift workers who worked night shifts sporadically
- Regular night shift workers
The participants had completed a detailed questionnaire about their dietary habits. During a follow-up after about 12 years, it was found that night shift workers who consumed little fibre in their diet had a higher risk of coronary artery disease than those who consumed more fibre.
“A moderate intake of about 19 grams of fibre per day was linked to a lower risk for those who worked night shifts regularly. For those who worked night shifts sporadically, about 15 grams was enough. The current recommendation for adults is about 25 grams of dietary fibre per day,” says Diana Nôga, lead author and researcher at Uppsala University.
The researchers stress that the figures from the study are not official dietary recommendations. But they do show a pattern in this UK study: a higher dietary fibre intake was linked to a lower risk of heart disease among night shift workers.
“The link between fibre and a lower risk of heart disease is not just because those who eat more fibre generally have a healthier lifestyle. We know this because we adjusted for various lifestyle factors in the analysis. One possible explanation, supported by previous research, is that fibre in the diet can improve intestinal flora and also reduce lipids, which can be particularly good for the heart in people who work at night,” says Christian Benedict, senior author of the study and Professor of Pharmacology at Uppsala University.
Dietary fibre can support heart health
According to the researchers, an increased intake of fibre-rich foods such as whole grains, vegetables, fruit, legumes and lentils may be a simple way to improve heart health for night shift workers. However, this requires that you do not have any medical obstacles to doing this, such as chronic gastrointestinal diseases.
“Dietary changes should be seen as a complement to, not a substitute for, other heart health-promoting habits such as not smoking, remaining physically active, and getting enough sleep,” says Diana Nôga.
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