Financial Advisor Update

Your Early Midlife Crisis

 

A midlife crisis may also occur in marriage, as many men start to question their choice of mate and may also start to yearn for the days before kids and responsibilities around the house. Many men describe feeling angry more often and may start to regress toward a younger, more self-indulgent version of themselves to avoid these painful feelings. (Some may skip work to play golf, buy an exorbitant sports car or purchase a new expensive wardrobe, regardless of the consequences to their business or family.)

In other cases, men can withdraw from social activities and isolate themselves from those who realize that they are not happy with their stake in life. They may begin to harbor resentments against their families for having "distracted" them from reaching their financial goals or career status.

Why Now?

It is likely that many men who entered into the financial services industry in the late 1990s were enticed into believing that they could become millionaires overnight. At that time, 23-year-olds were pulling in six-figure incomes, and 40-year-olds were planning for early retirements. Early on in the new millennium, 30- and 35-year-olds were becoming all-star hedge-fund traders and were living the good life.

Things have changed drastically over the past seven years. It is much harder to become filthy rich at a young age. Thus, many men who once had the passion and motivation to fight for the easy money feel as if they were sold on nothing but a dream. Never before did they think that they would be faced with so much red tape and compliance as part of their job description.

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