The kids are not alright.
Zooming into adulthood — becoming autonomous, moving out of mom and dad’s, landing their first big girl or big boy jobs — all once sounded like a sweet fantasy to the youngsters of Gen Z.
But now that they’re in it, Zoomers are fast feeling like their dream life of independence is actually a living nightmare, per new data revealing that 38% of twenty-somethings are currently experiencing a “midlife crisis.”
“The concept of a midlife crisis has changed,” explained study authors via Arta Finance, a digital wealth management platform.
“For today’s young adults, the pressures of financial instability, mental health and career uncertainty have created an environment that feels inescapable,” continued the experts.
And the immense weight of the stressors is wreaking havoc on their personal and professional lives.
The Z’s, society’s newest wave of grown-ups under age 27, are missing the equivalent of one work day every week due to mental health issues, so says a recent report from insurance imprint, Vitality.
Researchers for the company also found that young workers are 224% more likely to be depressed than their older colleagues.
And while it might be easy to blame Gen Z’s inability to “cope with life” on their presumed “laziness” — a stereotype that NYC Zers have fiercely rejected — Arta specialists argue that the generation’s mental health struggles are rooted in the country’s questionable economy rather than a mere woe-is-me mindset.
“For many, the biggest factor contributing to this crisis is money,” said the insiders, who surveyed 2,000 US adults over age 18.
“For Gen Z, 30% report that financial issues are their primary source of stress,” they said, adding that 28% of millennials — folks ranging in age from 28 to 43 — agree.
“With rising costs of living, an unpredictable economy, and stagnant wages, Gen Z and Millennials are grappling with financial pressures that are fundamentally reshaping how they think about their futures,” said investigators, noting that money woes are limiting many from pursuing major life milestones like buying a home or starting a family.
Unfortunately, however, cash isn’t the only catalyst responsible for the chaos.
“Beyond financial stress, other factors play a significant role,” the authorities advised.
“Mental health challenges (25%) and career struggles (23%) contribute substantially to Gen Z’s sense of crisis, according to the survey.”
To cope with the internal calamity, probers found that members of the Z-team are “doom-spending” — a form of escapism through excessive shopping to evade real-life problems, such as the unstable state of the world.
“These short-term bursts of joy might help in the moment,” said Arta pros, listing clothes, electronics and entertainment as a few non-essentials Gen Z enjoys buying.
But the gurus warn that mindless splurging could, “ultimately worsen financial stress, creating a vicious cycle.”
Luckily, Samita Malik, a financial advocate at Arta, says there’s hope.
“The midlife crisis that so many young people are experiencing is about more than just money; it’s about the sense of control that money represents,” she insisted. “For Gen Z and Millennials, skyrocketing asset prices and the flood of often-misleading advice on social media have amplified their anxiety.”
Instead of standing by and watching the whippersnappers spiral, Malik suggests older generations offer Gen Z a listening ear.
“The key to addressing this crisis is to listen to their concerns and provide clear, actionable financial advice,” she said, “enabling them to establish a solid foundation for growth and long-term stability.”
