Growing old involves experiences of losses. Yet, it is not clear whether one's cohort group membership poses a resource in later adulthood. The authors examined the role of a dual age identity (age group vs. generation) across adulthood and possible adaptive effects on future time perspective and well-being. Findings suggest that when generation membership is salient, older (but not young and middle-aged) participants display a stronger identification with same-aged people than when age group membership is salient. Additionally, results demonstrate that the dual age identity represents a significant component of the self-concept and well-being in older adults.