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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