Is it true that old people loose the ability think creatively/ formulate new ideas My friend said something about that people get older than 50 loose the ability to think creatively and formulate new ideas.

There is also a saying like “stuck in his ways” and people say the “older you get the harder it is to change” 

Is this a thing? If it is there a scientific name for it?
The question of whether it is true (or not) that


  old[er] people [in general] loose the ability think creatively or formulate new ideas


would lead to a very opinion based answer and therefore it is not a fit for this site.  Not everyone behaves or thinks in the same way.  However, where this is true of those who are in this situation, there are several possible names for it and they tend to be cognitive biases.  There is

Declinism


  The belief that a society or institution is tending towards decline. Particularly, it is the predisposition to view the past favourably (rosy retrospection) and future negatively.


Rosy Retrospection


  The remembering of the past as having been better than it really was.


System justification


  The tendency to defend and bolster the status quo. Existing social, economic, and political arrangements tend to be preferred, and alternatives disparaged, sometimes even at the expense of individual and collective self-interest.


Status Quo Bias


  An emotional bias; a preference for the current state of affairs. The current baseline (or status quo) is taken as a reference point, and any change from that baseline is perceived as a loss.


Choice-supportive bias


  In a self-justifying manner retroactively ascribing one's choices to be more informed than they were when they were made.