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
Wow, now I'm going to sell all my equipment as I "can't" hear anything from 14Khz on up. But there is more to test signals than that. There has to be. I can hear instruments that play at higher frequencies on a regular basis but can't hear the friggin test tones. What's weird is that even on a low setting, the 8Khz test tone hurt my ears while the 12 Khz test tone was soft and really nothing beyond that.
I know this opens a huge can of worms but this goes a long way against the argument that only what can be measured is the sole criteria. So many flat earthers stick to their measurements with a fanaticism that borders on religion and yet I can hear things that I shouldn't.
Ballan,

Thanks for the TED link to Evelyn Genie. I hope to meet her one day - inspiring. I noticed they have a video with Benjamin Zander speaking about passion. Having met Benjamin several years ago I am sure that is well worth watching too.
Unsound,
I stand corrected. And humbly so. A quick look at some graphs clearly shows that only the pipe organ can play a fundamental frequency to about 15Khz!
Everything else barely hits 5Khz. But it's the harmonics that can extend things to beyond 16Khz. In music they always will since no one plays only test tones. Considering that, was I so far off or am I missing something?