I keep a lot of clothes that I haven't worn in 5 years. Mostly my wearable art stuff. Some of it is so nice, I just can't let it go. Other than that, I sort at the end of the season when I move things upstairs and get rid of stuff then.
I've never had a rule for my stash. I have used fabric that was way older than 5 years so I'm not doing that. I do occasionally sort and get rid of some of the 'why the heck did I buy that" fabric. Other than that, I just keep sewing it up.