There’s Money to Be Made From Your Midlife Crisis

livemint.com:

Americans want their midlife crisis to be more productive. This presents, for a growing number of companies, coaches and consultants, a multimillion-dollar opportunity. Some programs are online and charge a couple hundred dollars.

Others take place in exotic spots and feature luxury accommodations, yoga and surfing classes for thousands of dollars. Discounts are sometimes available. Fueling the businesses are longer lifespans, leading more people to search for meaningful pursuits in their 40s, 50s and 60s.

Some psychologists call this period a second adulthood when identity-shaping roles, from executive to full-time parent to caregiver, can fall away, causing some to re-evaluate. “Transition is a skill we need to master in an era of increased longevity and change," said Chip Conley, co-founder of Modern Elder Academy, or MEA, which offers online and in-person workshops. Some studies show life satisfaction reaches a low point around the mid-40s, perhaps because of stress linked to the demands of work and family.

That juggle, coupled with little time for self-reflection, leaves many people unsure how to approach their next chapter. Instructors in midlife programs explore topics including psychological development in midlife and ageism, which can cause people to believe they are “irrelevant, over the hill, and that their best years are behind them," said Conley. He created MEA after working at Airbnb, where the home-sharing company’s young founders dubbed him a modern elder at age 52.