My actual favorite word right now is senescence, or "The condition or process of deterioration with age."
First of all, it's a lovely word to say! It's got nice parallels with repeated soft 'sen' sounds, and some internal alliteration that really tickles the Monkey Brain that tells me to look for patterns :)
Second, I've been thinking a lot about getting older and how to do so well. I'm only 22, and still have a lot of life ahead of me. I'm less interested in how aging is going to make me look, and more worried about how I can maintain my fire as I get older. "Milquetoast Software Engineer" is such a real stereotype that it hurts - how can I avoid becoming that?
...Also, I like the word milquetoast!