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One way I think of how/why time seems to pass more rapidly as we get older:
When you are say 8 years old...one year is 12.5% of your life to that point, which is a very significant proportion so it seems like a "long" time to you.
When you are say 60 years old...one year is 1.7% of your life to that point, so it seems like a pretty short additional period.
Of course this assumes you are not travelling at the speed of light or holding a flashlight pointing into your eyes.
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