This article outlines the main results of the theoretical study of emotional well-being and disadvantage of the elderly as a socio-psychological phenomenon. The main problems of understanding emotional well-being are revealed, the hypothesis of the research is defined, and a theoretical review of the early research of the topic by other authors is given.  The relevance of studying ethno- and gerontopsychology is substantiated, the research is also focused on possible difficulties and age crises, value orientations and aspiration or achievement of self-actualization, ego-identity of personality. On the basis of theoretical analysis hypotheses are formed on the features of normative age crises by L. S. Vygotsky; on the concept of individualism and collectivism by J. Bruner; the importance of intra-cultural study of this phenomenon; as well as the theory of the concept of personality self-actualization by A. Maslow and K. Goldstein.