“What reasons has he to envy a young person? For the possibilities that young person has, the future that is in store for him? ‘No thank you.’ He will think ‘instead of possibilities, I have realities in my past—not only the reality of work done and love loved but of suffering suffered. These are the things of which I am most proud—though these are things that cannot inspire envy.” —Viktor Frankl, The Doctor and the Soul
We are a culture that worships youth. An article in Financial Advisor magazine by Mitch Anthony says this:
One’s age, as Frankl so poignantly stated, is like a treasure chest of realities experienced, family and friends loved, work that has brought value and, yes, times of suffering that have shaped us. As we age, we know who we are, we know where we’ve been, and we know what we can do. Wisdom and experience are difficult to quantify, but this I know for sure––these values have worth in the marketplace. Age, rather than speaking of cultural insignificance, should speak of elevated significance. Rather than speaking of the exhaustion of personal resources, age should speak of the collection and multiplication of such. We don’t have to become less as we age; we can compound in our later years. Just like the magical effect of compounding on our wealth in the later years of saving, the wealth of knowledge and experience compounds in the third season of life.
One other advantage of age is that if you have saved money over your lifetime you now have the benefit of the assets you have accumulated. That, and the wisdom and experiences of a lifetime makes you possibly more interesting and with more freedom to do things.