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38% Gen Z adults suffering from 'midlife crisis', stuck in 'vicious cycle' of financial, job stress (www.moneycontrol.com)

submitted 5 days ago* (last edited 5 days ago) by MicroWave@lemm.ee to c/economics@lemmy.world

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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.

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[–] pelespirit@sh.itjust.works 21 points 4 days ago (1 children)

You're only 2% behind them. It's every generation by the way that's having issues. I bet boomers and gen x are having less but similar numbers. This is a class issue, not a generational one.

According to a survey conducted by Arta, a staggering 30% of Gen Z respondents identified financial issues as their primary source of stress. Millennials, aged 28 to 43, echoed similar concerns, with 28% citing money as their biggest challenge.

[–] CaptDust@sh.itjust.works 9 points 4 days ago

Yeah, basically right. I had a joke written that I'm calling dibs on publishing this survey for the next generation, but the thought depressed me out of posting it.