There are eight meanings listed in oed's entry for the noun old, two of which are labelled obsolete. An old person has lived long, nearly to the end of the usual period of life. Having lived or existed for many years:
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Old may apply to either actual or merely relative. Old is a blinding edge pictures production, directed and produced by m. Old also has numerous informal or slang uses, like the phrase any old, which you'd. You can use old to describe something of long duration, like your old friends from camp who you visit every summer. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Old, ancient, venerable, antique, antiquated, archaic, obsolete mean having come into existence or use in the more or less distant past. An aged person is very far advanced in years, and is usually afflicted with the infirmities of age. Definition of old adjective in oxford advanced learner's dictionary.
Where old expresses an absolute, an arrival at old age, older takes a more relative view of aging as a continuum—older, but not yet old. As such, older is not just a euphemism for the blunter old but.