Two young women sitting by side of pool in villa.Athvisions/Getty Images

You know, even though wealthy families seem to have it all, there can actually be some pretty big downsides to growing up in that kind of privilege. According to the experts, things like loneliness, lack of resilience, and even mental health struggles can be common issues for kids born into affluent households.

Dr. Sanam Hafeez, a neuropsychologist, explained that wealthy kids can feel isolated because it’s hard for them to know if people genuinely like them or just want what their family can offer. And without having to work hard and overcome challenges, they often struggle to develop real resilience and a strong sense of identity.

Children of wealthy families tend to lack resiliency

A wealthy family on a yacht.CandyRetriever/Shutterstock

Dr. Hafeez said that when everything is handed to you, it becomes really hard to develop resilience. And without ever having to struggle through failure, it’s tough for these kids to figure out who they really are. Plus, they often lack practical money management skills since they’ve been shielded from the realities of living on a tighter budget.

Financial expert Earl Yaoskin agrees, explaining that wealthy kids get used to a higher standard of living and are often ill-prepared to handle any kind of setback or hardship as adults.

They face higher rates of depression and substance abuse

Prescription pill bottles laying on cash.Charles Wollertz/Getty Images

Dr. Hafeez also shared that there are higher rates of anxiety, depression, and substance abuse among wealthy young people. She explained that the pressure to live up to their family’s legacy or maintain a certain status can create a lot of invisible anxiety. And depression often stems from a sense of emptiness when material comfort doesn’t fill a deeper emotional need.

With easy access to drugs and alcohol, some wealthy kids end up turning to substance abuse as a way to cope with all that stress and pressure. It’s a really concerning trend, according to the experts.

Wealthy kids can face lifelong issues

Four $100 bills on fire.Rapideye/Getty Images

Dr. Hafeez also explained that wealthy kids can develop all kinds of lifelong issues, like identity disorders, fragile self-esteem, and even narcissistic traits. When you’re shielded from real-world feedback and accountability, it can be really hard to figure out your own values and capabilities as an adult.

But the experts say it doesn’t have to be all doom and gloom. Financial expert Earl Yaoskin recommends that young adults strive to be financially independent, even if it means living more frugally. He believes that learning to be self-sufficient can actually give you a great sense of accomplishment and freedom.

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