Three hundred and eight elderly persons (X = 75.4 years) were selected from multipurpose centers, residential treatment facilities, and the general community in order to examine how “young” they feel and why. Feeling younger than one's age was associated with various dimensions of psychological health even when the effects of several confounding variables were statistically controlled. Multivariate analysis revealed purpose in life as the strongest correlate of identified age and indicated the importance of maintaining a meaningful existence in later years.