T.G.I.F. and maybe even payday for you….YAY!!!! Whether it’s a paycheck from your employer or benefits from the government, the influx of cash to your bank account is always a good thing, right? HOLD UP…not so fast….Not according to the latest research.
Researchers report that getting paid may be associated with a higher risk of death. Among Social Security beneficiaries, military personnel and people receiving tax refunds or state dividend payments, the risk of dying in a given month was highest on payday and for several days afterward.
Previous studies have linked spikes in monthly death rates to the first of the month, when many employees are paid. These spikes also occur soon after those on federal-assistance programs such as welfare or disability receive their benefits; researchers have speculated that much of the increase in mortality is attributable to substance abuse in this population (more money means more access to substances).
But in the current study, published in the Journal of Public Economics, lead author William Evans, an economist at the University of Notre Dame, says that the correlation “is much broader than substance abuse, and extends to accidents and heart attacks and also affects not just people on federal-transfer programs but people in higher-income groups as well.”
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