Close. But I think it's more along the lines of:

"This kid (i.e., recent grad) reminds me of me. My shit doesn't stink. With my care, I bet his won't either."

vs

"There's no way I wanna be that old guy / gal. I deny the fact that he / she could be my future."

Basically, ego vs fear.

I suspect this confirmation bias contributes to various isms. Racism, sexism, etc. That is, they are not me, and I refuse to see they can be me.