A new study conducted by researchers at Center for Economic Performance at the London School of Economics reveals that 23 and 69 are the two ages when people are the happiest.
The researchers surveyed more than 23,100 people between 17 and 85 years of age and analyzed their happiness levels.
They found that satisfaction levels peaked when people were 23 but declined over the next three decades, with the satisfaction level at its lowest point in mid-fifties, before it starts to rise again and reaching its peak at 69 and then declining again.
"One theory is that the U-shape is driven by unmet aspirations which are painfully felt in midlife but beneficially abandoned later in life. People in their fifties could learn from the elderly, who generally feel less regret. They should try not to be frustrated by their unmet expectations because they are probably not feeling much worse than their peers", Princeton University's Dr Hannes Schwandt, who was associated with the study, said.