Why would any 62 year old man wear a 40+ year old sweatshirt out in public? The only reason to wear something like it is around the house maybe when you're working on a home project or just relaxing and when you've been married for decades.
I have worn sweatshirts of my alma mater out in public but I am 40 and I have a more youthful vibe than most 40 year olds. My apparel from my alma maters is still in good condition too.
A few years ago, I had to get rid of a sweatshirt that I got in senior year of high school for my undergrad alma as there were some holes in it (one near an armpit) and it was starting to look dated and worn out.