I hit 40 last july and had a massive panic, bought two new full sussers and a big house in the countryside, then reality checked and slowly came to realise that I have all I need for a happy life, and that despite having everything i ever wanted in material possessions, good career etc. it was the people and places you go that really mean most in life so I am refocusing on that, being with friends and family and making more time to travel, rather than n+1 bikes, watches, guitars cars etc.
life is damn short, dont waste a second of it! the material objects dont matter as much as you think they do!