“True personal wisdom involves five elements, said Professor Staudinger, now a life span psychologist and professor at Columbia University. They are self-insight; the ability to demonstrate personal growth; self-awareness in terms of your historical era and your family history; understanding that priorities and values, including your own, are not absolute; and an awareness of life’s ambiguities.”

Article: http://www.nytimes.com/2014/03/13/business/retirementspecial/the-science-of-older-and-wiser.html?smid=fb-nytimes&WT.z_sma=BU_TSO_20140318&bicmp=AD&bicmlukp=WT.mc_id&bicmst=1388552400000&bicmet=1420088400000