The word can be used like this "Man that old timer knows his stuff, go ask him how to do it" If you need fishing tips ask a old timer they know there stuff
A generalized condition of forgetfulness or short-term memory loss due to old age, similar to, and almost as bad as, Alzheimer's or senile dementia, but without any specific pathology.
Man, by the time I get from my recliner to the other room, I forget what I went there for. Ever since I turned 50, my Oldtimers has really kicked into high gear!