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: