Wisdom and life satisfaction in old age

According to previous research findings, objective life conditions such as physical health, socioeconomic status, financial situation, the physical environment, and social involvement cannot fully explain the well-being of older persons. Instead, personality characteristics and developmental influences appear to have a stronger impact. This study combines personality and individual development by introducing the ancient but neglected concept of wisdom as a predictor of life satisfaction. Using a sample of 120 elderly women and men from the 1968/69 Berkeley Guidance Study, structural equation models with latent variables show that wisdom (defined as a composite of cognitive, reflective, and affective qualities) has a profoundly positive influence on life satisfaction independent of objective circumstances. The inclusion of wisdom as an additional predictor of subjective well-being increases the explanatory power of the model considerably. Gender differences in predictors of life satisfaction are discussed.