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I heard that many times and I really have that sensation. Does anyone have a good explanation why that is?

Psychologists assert that time seems to go faster with age, but the literature on this age-related perception of time remains controversial.
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    This guy studies exactly that phenomenon. – Sklivvz Jun 26 '11 at 23:11
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    I get more patient as I get older, which probably explains why I get more impatient with people who're less patient than me and want everything done now, now, now :) – jwenting Jun 27 '11 at 6:32
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    As you get older, any lapse of time consitutes a comparatively smaller fraction of your life than the same lapse of time would have done, earlier in life. By the time you turn 10, one year will be a 10th of your entire life. By the time you turn 100, one year will be 1% of your entire life. Posting as a comment, as this is not research, but might still qualify for "good explanation". – David Hedlund Jun 27 '11 at 6:52
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    @Kon: as for (2) I would say that at large, we always adapt our scales to the appropriate order of magnitude, for practical reasons. If a project exceeds a budget by $1m, that's a bigger deal for a $1m budget than it is for a $100m budget. It's worse to be 1h late for a meeting, than to be 1h late for a convention that spans two weeks. So I don't see a problem in (2), but all that is irrelevant, because at the end of the day, I entirely agree with (1). That it seems plausible doesn't make it true; hence the comment. – David Hedlund Jun 27 '11 at 9:19
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    I think it's because your sense of time is relative to what you remember. The older you get, the less often you learn something new -- not only because your ability to learn deteriorates, but also because you've become a lot more accustomed to your environment and thus learn new things less often. A newborn would be learning new things every minute, maybe even every second. At age 10 you're learning some new things every day at school. In college your ability to reason is refined to the point where a large portion of your learning is in fact validation of suspicions rather than pure knowledge. – Rei Miyasaka Jun 27 '11 at 9:22
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There have been studies that show that our sense of time changes with situations and with age. This is a study done where people were dropped from a height:

Stetson and co believe that people lay down richer, denser memories when they experience shocking events. These ‘flashbulb memories’ include emotional content, which involves the brain’s emotional centre – the amygdala. As these memories are played back, their unusual richness could fool the brain into thinking that the recorded events took up more time than was actually the case.

You can also check out more from one of the authors on time perception.

Also, from another article about Eagleman:

One of the seats of emotion and memory in the brain is the amygdala, he explained. When something threatens your life, this area seems to kick into overdrive, recording every last detail of the experience. The more detailed the memory, the longer the moment seems to last. “This explains why we think that time speeds up when we grow older,” Eagleman said—why childhood summers seem to go on forever, while old age slips by while we’re dozing. The more familiar the world becomes, the less information your brain writes down, and the more quickly time seems to pass.

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