The Millennial “Midlife Crisis”

Learn how Ellevest can help you save time and energy around your financial decisions and money management.

Gloria Steinem has said, "Women may be the one group that grows more radical as they age."

I have. My friends have.?

When we started our careers, we would never have called ourselves "feminists"; that was a term that belonged to our moms. And, unlike our moms, we were storming our way to the top of corporate America, with our skirt suits, sensible heels, and briefcases. (I still have my actual briefcase from that time, as if I’ll ever need it again.) Whatever held our moms back would not hold us back. After all, it was the ‘90s.

Then we hit our 30s and were sucked into a seemingly endless vortex of work, baby, pets, parents, more work, glass ceilings, another baby, a rocky patch in the marriage, more work, more pets. And some of our women work friends leaving the workforce.?

Then we hit our 40s: work, teenagers, parents, more glass ceilings, aging parents, maybe a divorce, corporate politics, more work. Even more of our women work friends left — or were pushed out of — the workforce.

By our 50s, many of us were now the only woman in the room. And when we looked at all of the talent lost along the way — not because these women "chose to leave," but because of the structural issues that force women out of the workforce — we did indeed "grow more radical as we aged." We did indeed now label ourselves as feminists.?

By that time, millennial women were on the march. Many looked at us Gen X’ers and — just like we had — believed that whatever held us back would not hold them back. After all, it was the 2010s. A girl-bossing, leaning in, time’s up, getting it done decade.?

And now … despite all of this, the pay gap hasn’t moved, the venture funding gap is going in the wrong direction, women remain underrepresented in the C-suite.* And it’s being reported that millennial women are now hitting a "midlife crisis."?

I’ve internalized that I’m supposed to feel not-good about this. For women this evokes: midlife, middle age, (peri)menopause, fine lines and wrinkles, dry skin, pants with elastic waists, a dour facial expression. You get the picture. Not great.?

On the other hand, men have midlife crises all the time. And they tend to typically involve motorcycles or sports cars. It’s a trope that sounds sort of fun.?

So why can’t millennial (and all) women choose how to play out their "midlife crises" like men can? Or to ask the bigger question: Are they even "crises" at all?

At Ellevest , we’re seeing more and more midlife women defying the term altogether by helping themselves. If they can’t put a crack in shatterproof glass, they can pivot, pause, or quit with a confidence that wasn’t accessible to generations before them. Millennial women are changing careers, working for themselves, working part-time, expanding their skill sets, and taking mini-retirements. What we see is that so many of them are in control, not in crisis.

This is exactly why we founded Ellevest: to help women build their financial power and take action with it. To highlight that the path laid out for them by corporate America and the traditional financial industry isn’t the only one they can go down. To normalize women making their own calls on their finances and their future … and heck, their midlife crises.

— Sallie Krawcheck ?

*I’m not quite ready to agree with the statement that "All corporate career advice for women is a form of gaslighting." But I’m also not not ready.

PS: If you want this kind of midlife freedom, you need a financial plan. Start by connecting with an Ellevest financial expert who won’t judge you for making your midlife crisis count. No prep, no judgment, and —?best of all —?totally complimentary. Book your consultation here.