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The activity theory of aging, also known as the implicit theory of aging, normal theory of aging, and lay theory of aging, proposes that aging occurs with more positive outcomes when adults stay active and maintain social interactions as they get older. [1] Activity theory suggests that the aging process is slowed or delayed, and quality of ...
An individual retirement account [1] (IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.
Retirement is the withdrawal from one's position or occupation or from one's active working life. [ 1 ] A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public ...
Society portal. v. t. e. Gerontology (/ ˌdʒɛrənˈtɒlədʒi / JERR-ən-TOL-ə-jee) is the study of the social, cultural, psychological, cognitive, and biological aspects of aging. The word was coined by Ilya Ilyich Mechnikov in 1903, from the Greek γέρων (gérōn), meaning "old man", and -λογία (-logía), meaning "study of". [ 1 ...
The theory deals with the internal structure and the external structure of continuity to describe how people adapt to their situation and set their goals. The internal structure of an individual such as personality, ideas, and beliefs remain constant throughout the life course. This provides the individual a way to make future decisions based ...
Mental accounting (or psychological accounting) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. [2] Mental accounting incorporates the economic concepts of prospect theory and transactional utility theory to evaluate how people ...
The life course approach, also known as the life course perspective or life course theory, refers to an approach developed in the 1960s for analyzing people's lives within structural, social, and cultural contexts. It views one's life as a socially sequenced timeline and recognizes the importance of factors such as generational succession and ...
Midlife crisis. A midlife crisis is a transition of identity and self-confidence that can occur in middle-aged individuals, typically 45 to 64 years old. [1][2][3] The phenomenon is described as a psychological crisis brought about by events that highlight a person's growing age, inevitable mortality, and possible lack of accomplishments in life.