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TLDR: Get control of finances for less stress! 

Recent research says Gen Z is experiencing a "midlife crisis" much earlier than expected.

A recent study by behavioral researcher Vitality indicates that 38% of Gen Z adults, those aged 18 to 27, are undergoing what they term a "Midlife Crisis," primarily due to financial insecurity, mental health challenges, and career ambiguity.

The research shows Gen Z workers are nearly two and a half times more likely to suffer from depression than their older counterparts — a stark reality for those in their twenties.

Another study by Arta Finance highlights that 30% of Gen Z identify financial problems as their top stressor, followed closely by mental health concerns at 25%, and career stagnation at 23%.

Collectively, these factors contribute to an escalating sense of crisis among this generation.

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Sher Global

I don’t think that depression in your 20’s is a midlife crisis. As far as I understood it, a midlife crises has specifically to do with being half way through your life. It comes from the reflection that you’re half way through your life and that it may not be going how you wanted or expected. It’s also about just realizing that you’re going to die. That you have probably lived half your life and that it was quite probably the better half (the healthier half). 20 year olds can be in crisis because their lives are hard, but it’s not the same as a midlife crises. FOMO is also not a midlife crises.

Vasilis Stavrakis

My observation agree with this data. I may sound biased saying that but being born in 1994, i am something between a millenial and gen z person. My introspection before taking up financial arms has come up with similar results, so +1 to this.