Nowadays social problems of elderly people or so-called people of "the third age", their social status and their place in modern society, issues of well-being and satisfaction with life are particularly relevant in Russia. In this article the authors propose the approach to the study of elderly people wellbeing issues and to the determination of social status of elderly people in various societies from the perspective of social gerontology. In this article the authors present the study of intangible factors, accompanying an elderly person during this period of life. The authors propose the insight into the ways of overcoming the negative characteristics of ageing period, through the creation of conditions for new social relations formation. In modern world, old age is being understood by humanity as the age, which hides large reserves and great potential. The authors highlight the need to learn how to recognize new value orientations in surrounding society as well as in one's personality. In this regard the support rendered by family and the people of the same age group, surrounding an elderly person, is the most significant aspect in making this period of life happier and more meaningful. Thus, old age is the phenomenon of more social than physical nature as the psychological development continues up to old age
