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A new survey reveals that a third of men in their forties and fifties admit to recklessly spending their money on sports cars because they are suffering from a midlife crisis.

The British survey revealed that 30 percent of men admitted that their behavior changed noticeably when they were coming to terms with getting old, according to the Daily Mail. Many men said that they ended up making impulsive purchases, breaking up with their partners and taking up strange hobbies.

Most of the men surveyed believed they had been through that they saw as a "classic" midlife crisis in a bid to recapture their youth.

While many men in midlife crisis splurged on sports cars and motorcycles, others went even further and resorted to getting plastic surgery or "a new wife".

Many men blamed a death of a friend, relative or colleague, divorce and children growing up and leaving home for triggering their sudden change in behavior.

Other men said they splurged on impulse buys after paying off their mortgage or simply for a desire to have more fun and to "live a little".

However, the survey conducted by men's fashion and lifestyle website socked.co.uk revealed that beside all the fun and games, there was also a sad side to the midlife crisis for some men.

Researchers found that about 10 percent of the 1,500 men surveyed admitted to suffering bouts of depression as they came to terms with their aging.

"This survey's been a real eye-opener," Mark Hall of socked.co.uk told the Daily Mail. "What started out as a fun look at the strange things older men do to relive their youth has also shown us the other side of the coin - depression and genuine fear for the future."

"It's not something that's widely reported and reveals how some people have trouble coping with the fact that they're approaching old age," he said.

Investigators noted that two thirds of the men surveyed said they had never been through any kind of a crisis and were "perfectly happy" with their lives.