I just purchased Adobe CC. After Effects is insanely laggy, and illustrator crashes constantly
I never had problems with these apps before. In after effects, I load in one small clip and press play. Immediately the clip lags, stutters, and the audio down-pitches severely. Audio no longer lines up with video and the program becomes unresponsive. I checked my task manager and its using almost 10GB of ram.

What is going on? I have used slightly older versions of this software (and predecessors) for over 10 years.
Tried restarting my PC... closing everything else. It can barely handle one 20sec clip.
SYSTEM:
Intel(R) Core(TM) i7-4790K CPU @ 4.00GHz (8 CPUs), ~4.0GHz
16384MB RAM
GeForce GTX 970
More than enough space free on a 500GB Samsung SSD.