Because they are increasingly smaller fractions of your lifetime. When you are 5, each year is 1/5th of your entire life. When you are 25, each year is only 1/25th of your life. Humans do not have any absolute sense of time, we can only measure it’s passage in comparison to other things, and while the time it takes for the seasons to change is unchanged, so a year “is” the same duration, chronologically each year seems like a smaller and smaller amount of time because each one is smaller in proportion to our experience.
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