Oh yeah, that's definitely why older folks are socially conservative, although usually when I hear people say this (and definitely in the context of this meme) they're talking about becoming fiscally conservative.

there’s also the phenomena of older folks generally being more against change and clinging in the past more,

That's more a consequence of the moment. Older people like stable material conditions. And with programs like pensions, public health care, and a safe suburban neighborhood with good amenities, they see the status quo as worth defending.

But swing through North Africa and the Middle East during the Arab Spring (anyone remember that?) or pop over to the UK in the wake of the last election cycle or visit an impoverished neighborhood in Haiti or a bombed neighborhood in Lebanon and you'll find plenty of elderly revolutionaries.

you look towards the past and become nostalgic about it

People may be nostalgic for their youth, but they are rarely nostalgic for being treated like a child.

And you're going to find it hard to locate a South African native nostalgic for Apartheid or a Pole or Romanian who misses occupation or a Chinese national who pines for the Century of Humiliation.

Westerners coming out of their post war pre-Reagan Golden Era just have more to be nostalgic for.