Cecily O'Connor
RedwoodAge.com

While the recession has dried out many Americans' savings accounts, it hasn't dampened spirits.

Rather, most people are placing importance on family and friends as part of achieving "the good life," according to a new study of individuals aged 25 to 74.

"Even though many have suffered financial setbacks in the past couple of years, their priorities remain unchanged," said Sandra Timmermann, director of the MetLife Mature Market Institute, which conducted the study. "Purpose is age-proof and recession-proof."

So how do most people feel about that? Adults between 45 to 74 described the good life as having enough money, being healthy and engaging in meaningful activities. Those in the younger group focused on generating, managing and accumulating money. 

Given that perspective, almost half of those age 45 to 74 said they believed they were living the good life, compared to just 29 percent of the younger group. Many adults under age 44 said they were in a state of limbo, unsure about the future and lacking focus.

Pulling Triggers
At the core, it's an individuals' ability to weather significant changes and transitions that helps the achieve the good life. These changes can be caused by positive or negative “trigger events," including job loss, marriage, illness, the birth of a child or grandchild, divorce, moving, retirement or death of a love

"People must also be prepared for change, which has the propensity to derail those who are not able to roll with the punches," said Richard Leider, a life coach and author, whose work provided the basis for the study.

To that end, the study pointed out that longevity has been increasing over the past decades. That can lead to a second or even third career, or time to volunteer, learn new skills, travel and forge long-term relationships.

When push comes to shove, financial challenges have proven "constructive" and provided many individuals a boost to think up new ways to be financially secure, the study found. As a result, some adults are opting to participate in activities that cost them less - a tactic that could help restore savings over time.

"Whatever their age, stage, work status or financial circumstance, they can explore their purpose, find other solutions and land on a new path," Leider said.