Should I upgrade my system while losing my hearing?

WOW!!! My system sounds great. Wifey says it sounds great & leave it alone. Yet I believe I know the weak spot in my system and I want to upgrade it (Tonearm). Yet some would say that my amp is weak. Its just a VTA Dynaco ST-70. But Lordy, does it sound good. Even so, I'll probably replace it because the power switch is on the back which makes it hard to get to turn it on *& off.. But then I think of my age (68) in 2 months and my hearing loss and I ask,   does it make sense to upgrade? Should I really spend thousands of $$$$$$ to get a 3-8% improvement? But who's to say it won't be 20%..........25%? And with my hearing loss, will I be able to hear it? I hear music pretty good. Its conversation I don't hear. But I've heard enough conversations , etc anyway. 
I often think about my old step father who often said, "There ain't no fool like an old fool". I think I understand what he meant.. AWW I'm gonna do what I want anyway. Just making conversation. But does it make sense to upgrade my system? Or get hearing aids? Ain't gettin' old fun?

You know Dan D'Agostino has used hearing aids for decades? You absolutely should see a doc and get tested. It may be something simpler.

I'd spend in room treatment before more gear.
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Same deal here artemus. You got a few years on me but only a few. Same deal. In fact I'll do ya one better, I wandered down that maudlin path so far three whole years went by where I never once played a record but only watched movies. Because, why bother with "serious listening" any more. Can't hear like when I was young. Might as well just take a bullet. Get it over with.

Seriously. True story. Three years gathering dust. Finally one day, not making this up, thought well might as well sell it all but at least listen to it one more time before you do. 

One side of Jennifer Warnes and I'm like what were you thinking??? Next thing you know its new Koetsu, Herron, a few tweaks and, well I won't say never been happier but never sounded better and anyway happy enough!

Nother true story. There was this guy I knew DJ Casser, had a seat on the commodities exchange then ran a little company Black Diamond Racing making the world's best audiophile vibration control devices. Changed names to BDR then kind of disappeared. Not 10 minutes ago I was searching around trying to figure out why the world's best would just disappear like that. Did a search for DJ Casser and found out why

Would anyone work on the engine and transmission of a high performance automobile like a Ferrari if all four of the tires were almost flat? I think of correcting a hearing loss much the way I see the inflation of tires on a high performance race car. One really cannot move forward without the removal of some simple, basic obstacles to high performance.
A friend with severe hearing loss got some newer hi-tech digital hearing aids, bought a new Naim Supernait 2 and hasn’t looked back. Loves it. 
M brother got hearing aids last year but takes them out when listening to his system.His aids enhance the frequencies surrounding the human voice which makes for a bright fatiguing experience when listening to music.He said walking through crackling leaves last fall was excruciating:)
Leave your hearing alone, it appears to be good enough, you don't need any aid. Upgrade your system, whatever you feel necessary.
In the words of Sheryl Crowe, “If it makes you happy, it can’t be that bad”. 
Three of my close friends have had serious hearing problems for years and had given up on hearing aids after trying them when their problems were first diagnosed. But within the last year two of them, both with excellent audio systems, have tried hearing aids again and are thrilled with the recent huge advances in the technology. The hearing aids are controlled from a phone app and can be adjusted to optimize hearing in several kinds of environments, conversation, music, crowded public spaces, etc. It's certainly worth exploring with a qualified audiologist. Having said that, whether that works for you or not, I think you should do the upgrades.
FWIW the hearing loss is a relatively new thing.I had a hearing test 10-12 yrs ago and was in the normal range.  I only recently noticed that I can't hear the conversation on TV as well as I used to do. And yes, I will take care of it.. .....though I wish I could put that hearing aid $$$ into a tonearm.............or .........
Digital hearing aids suck. Better to listen without aids and equalize the system to compensate for your loss.
The music sounds fine to me. I know about the hearing loss only from TV conversations which I cannot understand.
Fortunately I don’t know much about hearing loss firsthand but it seems like I’d want the range of sounds that my ears are capable of processing to sound the best. Listen to upgraded equipment and if it doesn't sound better then don't invest more. I know that sounds overly simplified but I’m a simple guy.
I had hearing loss during my time with Air Defense Artillery (Hawk missles) and Field Artillery (Howitzer) units with US Army and Army Reserves. Lucky for me after I retired I was able to get a partial disability and the VA pays for my hearing aids. Yes (maybe like you) I cannot hear well during crowded places when someone is talking to me. I disagree with some audiophiles here who think you should not get hearing aids. It’s your choice, for certain, but for me I think the new hearing aids are much better and they can potentially not only make your music listening experience better, but your life more fulfilled. I have Resound brand and they can be adjusted on my smartphone.
I plan on getting the hearing taken care of soon. Like you say, it improves quality of life. If music sounds better, then that's a plus. 

I use digital hearing aids and really like them. When tested, 4k and up were found to be way down, something like 40dB (I don’t remember exactly but it was significant.)
Correction was setup to less than 100%. I was told that I’d have a problem with total correction since it would seem way too bright. 
My system includes a DSP which is not adjusted flat. Not sure how it sounds to others but it sounds great to me. Without hearing aids it sounds like it has no top end. Kinda like I have a pillow over my head. 
My system hadn’t been upgraded for at least 20 or 25 years. Since I started wearing hearing aids I have been obsessively tweaking it. 
I will eventually get someone to sit down and assist with a “normal” EQ ie someone with normal hearing just as an experiment. 
Btw re the Dynaco power switch: why not plug your system into a power conditioner that has a master on/off switch?
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Digital hearing aids are getting better by small increments. That being said, there is still way too much etching of the higher frequencies IMO.