I believe it's an old Grandpa Jones song. Mike Seeger has it on his solo album "Mike Seeger".

Lyrics:
Verse
1
When you get old and feeble
and you can't hardly get around,
you'll have to get two walking sticks
to hobble up to town;

You can hear your kinfolks saying
and they're whispering all around:
"Old Grandpa would be better off
If he's six feet under the ground."

Chorus:

We live a long, long time to get old
We live a long, long time to get old,
So there ain't no need to cry,
Old Grandpa's gonna die,
We live a long, long time to get old.

Verse 2

When you were a young man,
you used to jump and hop
Now each time you move around
You start to creak and pop
You can hear your kinfolks talkin'
And they're waiting for the day
When they can throw your walking stick
and walking cane away.

Chorus:
We live a long, long time to get old
We live a long, long time to get old,
So there ain't no need to cry,
Old Grandpa's gonna die,
We live a long, long time to get old.