High End Audio and Your hearing as you get older


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I understand that your hearing decreases as you get older. Does it decrease to the point where at say, age 70, a mid-fi preamp and cd player sounds just as good as a high end preamp and cd player.

I'm 57 now, but wondering if when I'm 70, all this hi-fi stuff will sound the same as mid-fi stuff to a pair of old ears.
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128x128mitch4t
Here is the link: http://www.ted.com/talks/evelyn_glennie_shows_how_to_listen.html

Great presentation!
I have wondered if as we age, do we hear familiar things differently without realizing it? For example; do we narrow in on some frequencies such as treble sounds that we can hear, and yet because we don't hear all the harmonics that are generated from the those frequencies, hear them differently to the point that we now perceive them as brighter because they are incomplete?
I'm 81 and still buying hardware and software like there's no tomorrow (maybe there won't be). Does that answer your question? And no, I can't hear a thing over 10kHz, but it really doesn't matter to me.
I just turned 58 and have had tinitus (ringing) problems caused by influenza for about 12 years. I listen to music everyday and have learned how to listen around that frequency which occurs about 9khz. I can still hear frequencies higher than that and everything else is "clear as a bell". To address the original question, I believe the better the system at producing TRUE sound the more we enjoy it regardless of age. If Mitch4t means lower quality sound when he asks if "midfi" will sound the same as "hifi" when you get older the answer has to be no. Ballen got it exactly right. My system produces sound that sounds right to me and that sound keeps me front and center everyday. One thing everyone might benefit from is equalizing the pressure in your ears as you begin to listen to music. I am talking about what you do to lessen the external pressure on the eardrum when you fly at high altitude on an airplane by pinching your nose and blowing gently. You will experience greatly increased treble and clarity after this adjustment. Listening on clear days with high barometric pressure push in on the eardrum and prevent hearing music at it's best so equalizing the pressure allows better hearing. Want to thank everyone for their posts on this issue. Great question Mitch4t.
Unsound, I do believe we hear things differently as our hearing diminishes. The balance of the sound would almost have to change some but, with our ears and brain being more sensitive to the midrange frequencies, it may not affect our hearing as much as we might think. The brain has an amazing ability to compensate for that sort of thing.

On a related note, I have often wondered if much of us older folks' appreciation for LPs is due to the fact that we can no longer hear as many of the crackles and pops that used to irritate us in our younger days.