Some people mistake “millennials” for the youth when the eldest in that generation is now 43. As a result, the public fails to recognize the growing millennial midlife crisis worldwide.
People usually recognize the conventional midlife crisis based on those born from 1955 to 1964, the boomer generation.
It stemmed from the fear of getting older or experiencing major life changes. However, Steven Floyd, owner of SF Psychotherapy Services says younger generations suffer a “crisis of purpose and engagement.”
What is the millennial midlife crisis?
Beresford Research says the millennial generation includes people born from 1981 to 1996. The Thriving Center of Psychology (TCP) interviewed a thousand, and 81 percent reported they can’t afford a midlife crisis.
As mentioned, most know the midlife crisis based on the boomer generation. These older individuals splurged on expensive cars, extravagant vacations, and even exorbitant cosmetic surgeries.
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Mason Farmani, a personal life coach at Farmani Coaching, told Fortune that millennials have too many financial struggles to do these.
They’re “burdened with student loan debt, a challenging job market, and rising housing costs.” Consequently, they’re delaying milestones like buying homes and having kids.
Instead, the Thriving Center of Psychology says those experiencing a millennial midlife crisis will have the following problems:
- Anxiety (89%)
- Depression (76%)
- Loss of purpose (58%)
- Sadness (57%)
- Burnout (54%)
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It’s a growing issue, as the TCP says one in two millennials expect to have a midlife crisis. Consequently, those experiencing it may perform the following activities:
- Switching careers
- Attending psychological therapy
- Changing their appearance
- Buying expensive items impulsively
- Consuming more alcohol
- Breaking up with their significant other
- Moving somewhere new
- Losing or gaining weight
- Traveling
- Taking a new hobby
“Millenials are experiencing these symptoms for a variety of reasons,” licensed clinical psychologist Dr. Tirrell De Gannes said.
These include “growing up with the expectations of moving out at a young age and being self-sufficient without the resources.”
“They’re also making far less money than is necessary to live independently, even if it is more than their parents.”
They’re also “dealing with the proliferation of social media and its effects on mental health through constant comparison.”
The Philippines is also struggling with a mental health crisis, not just the millennial midlife crisis. Learn how the country is dealing with it in this article.