A yeshiva student of Novardok was thrown into jail by the Communists. They did not allow him to have seforim in jail, but did permit him to receive food parcels. His family decided to wrap the food in a daf of gemarah. The question arose, should they use an old frayed gemarah or a new one? The answer was a new one, as the older one has a greater degree of kedusha (sanctity).
Reverence for the past begins with Avraham Avinu. The Torah teaches, "And Avraham had become old and advanced in days, and Hashem blessed Avraham with everything" (Braishis 24:1). The Talmud (Bava Metzia 87a) teaches that until Avraham, there were no visual signs of old age, and Avraham prayed for recognizable old age to come into existence, and Hashem responded in the affirmative. The medrash (Braishis Rabbah 65) teaches that Avraham argued before Hashem thata man and his son could walk together and no one would know whom to honor. Thus signs of aging were a gift from Hashem, to enable the younger generation to show reverence and respect for a life of accomplishment. Grey hair is not to be camouflaged but to be flaunted as a crown of glory. This is in sharp contrast to the subsequent teaching of the gemarah, that until Yaakov there was no illness. Yaakov prayed to Hashem that mankind be afforded a warning that their end might be approaching, enabling them to put their life and affairs in order in preparation for the next world.
The old age of Avraham is one of blessing, fulfillment, and accomplishment. This can only be understood from a spiritual perspective. From a physical perspective the senior years are marked by a significant diminution of physical strength, prowess, and accomplishment. Avraham wanted old age so that the elderly would be venerated. Indeed, Rav Yochanan would greet and rise before the elderly of even the non-Jewish community (Kiddushin 33a), stating that they have weathered the various storms of life, and have graduated from the school of hard knocks.
The Gemarah (Bava Kamma 97b) teaches that the coin of Avraham Avinu had an elderly couple on one side, and a young couple on the other. Rashi understands this to refer to Avraham and Sarah on one side, and Yitzchak and Rivka on the reverse. The Maharsha, however, explains the coin to refer exclusively to Avraham and Sarah. To enable them to have Yitzchak they were miraculously transformed to younger individuals. They underwent a renewal.
Perhaps this is the reason for the custom as found in many siddurim that recommend that upon completion of Hallel on Rosh Chodesh, one recite the verse, "V'Avraham zakein bo bayomim, v'Hashem beirach es Avraham bakol" - "now Avraham was old, well on in years, and Hashem had blessed Avraham with everything" (Braishis 24:1). Rosh Chodesh is a time of renewal. Renewal of the moon, and our taking note of Hashem's renewal of nature affords us an opportunity to renew our relationship with Him. In addition, as Avraham and Sarah experienced renewal so must we.
While their renewal was more physical in nature, our rabbis note that a spiritual transformation occurs as well. The Mishna (Kinim 3:6) makes a sharp distinction between the aging of "amei haaretz", the unlearned, who seek but personal gratification, and the learned. The former, commensurate with the lessening of their physical capacity and pleasures, experience a void and emptiness that robs them of their meaning and purpose in life. In contrast, the latter, despite the same bodily decline, their attainment of spiritual endeavors increases and flourishes, fulfilling the verse "od yenuvun b'saiva" - "they will still be fruitful in old age, even vigorous and fresh", (Psalms 92:15).
The Abarbanel in his explanation of the mitzvah of yovel (Jubilee year - Vayikra 25:8-13) echoes the above theme. He teaches that the Torah is alluding to the fifty years of working on behalf of family and society. The remaining years are to be an opportunity for the personal self-actualization that was often limited in one's earlier years. Enrolling in a kollel for senior citizens, attending shiurim and bringing satisfaction to others through many different chessed opportunities, can adorn one's life with a new sense of personal growth, purpose, and meaning.