This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

How to Save on Your Midlife Crisis

Stocks in this article: TM HOG TSLA

NEW YORK ( MainStreet) -- Ask people how much their mental health is worth and most will tell you that you can't put a price tag on sanity. Ask someone who's recently gone through a midlife crisis, though, and you might get a different answer entirely.

Regret is a hard pill to swallow at any age, but when an expensive decision is designed to make life better for the 40-something American who's lost his or her sense of youth and vigor, the bitter aftertaste can put a person's entire retirement in jeopardy.

Kimberly Foss, a wealth adviser for high net-worth individuals (people worth $1 million or more, generally) with 29 years of experience, has seen plenty of clients of a certain age come to her wanting to make big purchases and trying to convince themselves that they are entirely rational decisions.

It may seem like a simple procedure, but the cost of looking younger can easily last to old age.

"Most of these people's interest in such things is short-lived," Foss says, "so if a client of mine wants to make a purchase that is clearly over the top and will cause financial distress, I would show them the ramifications but I try to give them a piece of it."

While some people simply won't be satisfied by just a "piece" of a midlife crisis, Foss remembers clients like the guy who bought a Ferrari and drove it only about 2,500 miles in the 10 years it sat in his garage.

"They always say 'I'll never get rid of it', but it's always important to have an exit strategy," she says. With that in mind, here is how to get that midlife crisis satisfaction without completely breaking the bank:

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs