Meaning

• (with the, invariable plural only) People who are old; old beings; the older generation, taken as a group.

  "A civilised society should always look after the old in the community."

• (in combination) One of a specified age.

  "when he was an eight-year-old ; a 62-year-old should"

• A person older than oneself, especially an adult in relation to a teenager.

• (most often plural) One's parents.

  "I had to sneak out to meet my girlfriend and tell the olds I was going to the library."

Meaning

• Of an object, concept, relationship, etc., having existed for a relatively long period of time.

  "an old abandoned building;  an old friend"

• Having been used and thus no longer new or unused.

  "I find that an old toothbrush is good to clean the keyboard with."

• Having existed or lived for the specified time.

  "How old are they? She’s five years old and he's seven. We also have a young teen and a two-year-old child."

• (heading) Of an earlier time.

• Tiresome after prolonged repetition.

  "Your constant pestering is getting old."

• Said of subdued colors, particularly reds, pinks and oranges, as if they had faded over time.

• A grammatical intensifier, often used in describing something positive. (Mostly in idioms like good old, big old and little old, any old and some old.)

  "We're having a good old time. My next car will be a big old SUV.  My wife makes the best little old apple pie in Texas."

• Excessive, abundant.