When we talk about the midlife crisis we usually refer to the existential dilemmas faced by people between the ages of 40 and 50, a crisis that is identified with a need to seek new dreams or goals and live emotions.

For millennials, at least in the United States, the meaning of midlife crisis is likely to be very different.Forget about tattoos, because they already have them, or getting divorced, because many of them haven't married.

The midlife crisis among millennials, according to a study by the New America organization, has a csadly financial componentdespite the promising future their parents saw for them as children, the new generation reaches the age of 40 with less wealth than their parents did..

They earn 20% less than the previous generation of baby boomers at their age., despite being better educatedTheir incomes are more unstable and, as an age group, they have higher levels of poverty (one in five millennials is considered poor).

There are several reasons for this new reality, including the great recession of 2008-2009, the greater number of years that a significant percentage of them have spent in education, and the high cost of education. and the high cost of education: if the main debt of a baby boomer at age 40 was for a mortgage loan, today it is to pay for their college and graduate studies.

This picture is not just a demographic curiosity. New America underscores the important implications for the economy and society as a whole. After all, the millennial generationmillennials are the leading economic force today (22% of the populationToday (they make up 22% of the population but represent 38% of working-age people) and, in an environment that is not very conducive to family formation, they have fewer children, which brings great uncertainties for the future.

You can view the study at https://www.newamerica.org/millennials/reports/emerging-millennial-wealth-gap/the-emerging-millennial-wealth-gap-opening-note/#:~:text=The%20most%20recent%20wealth%20data,a%20net%20worth%20of%20%2414%2C690.