Summary
38% of Gen Z adults, under 27, report experiencing a “midlife crisis” due to financial instability, mental health struggles, and career uncertainty.
Financial stress, cited by 30%, stems from rising living costs, stagnant wages, and unattainable milestones like homeownership.
Mental health challenges and career difficulties further compound the crisis. Many turn to “doom-spending” on non-essentials for escapism, worsening financial pressures.
Experts urge older generations to provide practical financial guidance to empower Gen Z and help them achieve long-term stability and growth.
This has been going on since mid GenX, believe it or not–the Boomers were the last group to be able to just get in and work a job. It wasn’t until the Millenials, however, that people started talking about it instead of just accepting it as normal.