Well Rhonda, if you discard a faithful friend just because they get old and worn then you're not as good a friend as they thought!!
Seriously, I just keep old stuff because I'm sentimental and because you never know but what you'll need it again.. or may have someone over and want to show them something.. Who knows..
Retire it to a special box you keep tucked away someplace in your sewing room.. that way it will be content and happy with all it's friends that its spent years with already!!