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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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[–] kandoh@reddthat.com 7 points 4 days ago

Your 20s are the most difficult time, you have the least amount of support and the only people interested in helping you progress in life are also out to exploit either your physical energy or passion for your craft.

I remember being 24 and feeling a deep shame that I didn't have my career job, or my own apartment. Meanwhile i was literally paying hundreds of dollars in transportation costs a month to work at places for free just for the experience.