Your perception plays a huge role.
Older generations wore older styles of clothing and hair. We associate these older styles with older people, because people tend to stop updating their style as they get older. As a result, when you see a picture of someone from the 50s wearing a suit and crew-cut, they appear to be a few years older than they actually are in the photo.
The media we view them in also matters. We associate old grainy photos with older generations and as a result they “feel” older. If you could travel back in time and take a smartphone video of the youth of the day, they would appear much younger because of our perception of the media format.
This effect is actually one reason why films are still shown at 24* frames per second even though we have much higher-speed cameras easily available. We associate smooth 60 fps video with home video, and so cinematic features filmed at 60 fps actually seem amateurish as a result.
*Edit: filmed at 24 fps and shown at 48 fps, as u/skiveman explains below
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