Mental illness can represent a massive pay cut, according to Australian research which has calculated its cost in forcing people to leave the workforce early.
The study found people who experienced depression or other mental health problems were up to $250,000 worse off, or they had around half the accumulated wealth, compared to their healthy peers around retirement age.
Professor Deborah Schofield said it showed how mental health problems had not only a major impact on a person's wellbeing and family life but also on their career earnings - and so their level of independence in old age.
"We expected to see a gap but not such a big gap," said Prof Schofield, from the University of Sydney and who led the joint research effort with the University of Canberra.
"What it shows us is that if you do have mental illnesses your chances of being in the labour force are much, much lower and so, as a result, you have much less capacity to save."
The research analysed a nationally representative sample of more than 8000 Australians aged between 45 and 64 years.
They accessed each participant's employment, income, and accumulated wealth in savings, property and other financial investments.
There were 99 participants who were found to have retired early due to debilitating mental health problems.
Those with depression were found to have a mean value of $236,000 in wealth while those with other conditions - such as schizophrenia or an anxiety disorder - had just $148,000.
This was compared to $398,000 accumulated by a worker who had no mental health or other chronic health problems.
People with mental health problems were also seen to have less complex and profitable financial arrangements - as they were more likely to be holding their wealth as cash and less likely to have it in superannuation, shares, an investment property or home ownership.
Prof Schofield said the figures showed how intervening to help people with mental health problems was "cost-effective" for governments, as it would help these people to remain in the workforce longer making them more able to pay their own way in retirement.
"There are treatments that can improve people's chances of being in the labour workforce," Prof Schofield said.
"It is also about ensuring the treatment is given as early as possible, so people don't become disengaged from the labour workforce due to their mental illness and so get stuck in a downward spiral."
The research is published in the February issue of the British Journal of Psychiatry.
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