First described by psychologists Suzanne Imes, PhD, and Pauline Rose Clance, PhD, in the 1970s, impostor phenomenon occurs among high achievers who are unable to internalize and accept their success. They often attribute their accomplishments to luck rather than to ability, and fear that others will eventually unmask them as a fraud.
Though the impostor phenomenon isn’t an official diagnosis listed in the DSM, psychologists and others acknowledge that it is a very real and specific form of intellectual self-doubt. Impostor feelings are generally accompanied by anxiety and, often, depression.
When young adults doubt their financial success—and knowledge—it can complicate decision making
As we discuss career trajectories and feelings of social belonging, many in my millennial generation are familiar with “impostor syndrome,” the phenomenon of doubting your own hard-won success and feeling like a fraud in certain spaces. This kind of self-destructive thought pattern can also infiltrate our feelings about our finances—and all too often does for millennials.
Wha..aa..ts happening to me?
“It can definitely feel weird” for those who have escaped unscathed and maybe even were able to save more money than ever before, pay off crushing debt loads or achieve their dream of owning a home.