OK, I'm not that old yet, but along with how ever many million other baby-boomers, I'm moving along the timeline. I already notice it's a little harder to hear sometimes: my son tells me my phone is ringing, and I have trouble hearing people in noisy conditions or in rooms with poor acoustics.
I'm already getting unhappy in big gatherings like our monthly potlucks with loud background music, when I can't hear people talking, or, rather, can't understand what they're saying. I know I'm not the only one, since others voice the same complaint. So, my idea is, why not invent a Bluetooth system that lets you use those in-the-ear phone thingies to talk to the people around you in noisy gatherings? Since the technology is already in place (phones, ear adapters, tiny Bluetooth transceivers and so on), it seems that it could actually work.
Bluetooth would work well for talking with the people nearby because it has a limited range and you wouldn't be hearing everyone in the room. Some kind of selection mechanism would be needed, perhaps, or maybe it would be more natural just to be able to hear everyone in a defined range as in normal conversation.
Meanwhile, my sister suggests I should take up sign language. Sounds like a good idea to me!