According to a graph in up to date I found the following info regarding low total testosterone levels in men--defined as at least one total testosterone below 325ng/dl
age 60-69--20% of men
age 70-79--30% """""
age 80+----50% """""
And the % free testosterone is just about double the total testosterone percent in men in their respective age brackets.
According to the Board Basic 3 for MKSAP16--"treating men greater than 60 years of age with no identifiable pituitary or hypothathalamic disease with testosterone is controversial."