This song sees Paul Simon tackling aging. He told Mojo magazine July 2011: "'Old' was a song about people starting to kid you that you're getting old before you actually are really old, but now I'm actually getting there."
You're The One was nominated for a Grammy Award for Album of the Year in 2001. As a result Simon became the first artist to be nominated in that category in five consecutive decades (1960s-2000s). Paul McCartney also joined that club in 2006 with his album Chaos and Creation in the Backyard.