Intergenerational contact can promote positive attitudes towards elders. However, contact with older adults often fosters multiple stereotypes, which may contribute to ambivalence about aging and poorer health in late life. Online survey data from 457 young adults (M age = 19.4 years; 74% female) were used to explore the relationship between intergenerational contact and ambivalence about self as a future elder. Multiple mediator path analysis was used to test the hypothesis that anxiety, knowledge, and empathy would mediate the impact of intergenerational contact on aging self-ambivalence. Ratings of intergenerational contact predicted ambivalence, but anxiety and empathy mediated the relationship (knowledge did not). Higher ratings of intergenerational contact, lower aging anxiety, and higher empathy predicted lower aging self-ambivalence, which reflected positive expectations for late life in our sample. Intergenerational contact can influence expectations for old age; exchange that fosters empathy and reduces anxiety may encourage individuals to exercise strategies that positively impact health in late life.