Cohort-sequential analyses of intelligence, personality variables, health and social data show that prerequisites for aging in competence today are better met in industrialized societies than a few decades ago. It is argued that a competence model of aging should complement the traditional defect and disuse models. Competence is defined by situational demands as well as by a person's resources to meet these. Emphasis on competence allows for specific (not general), variable (not constant), and relatively individual (not universal) descriptions and explanations of development. Chances for intervention with the aged are illustrated.