This quote suggests that as people age, they are often more inclined to offer advice to younger generations, perhaps as a way to make up for past mistakes or missteps. The inability to "set a bad example" could be interpreted as a reflection of the wisdom they’ve gained over time. They’ve lived through their own trials and errors and now, in their older age, they can’t behave recklessly without being aware of the potential consequences. So, they compensate for this by sharing their wisdom and experiences with others, hoping to guide them towards better decisions.

The quote also carries a subtle humor, pointing out the irony in the fact that the older generation, who can no longer ‘misbehave’ due to societal expectations or physical limitations, are the ones often giving advice.

In today’s world, this concept is still very relevant. For example, in the digital age, older generations might not be as adept at using technology in a way that could be considered reckless or irresponsible by younger generations. However, they can still provide valuable advice about life, relationships, and personal growth based on their own experiences.

In terms of personal development, this quote might inspire us to value the advice of our elders more. They have a wealth of experience and wisdom to share, and while they might not be able to ‘set a bad example’ anymore, they can help us learn from their past mistakes. It also reminds us that as we age, we too will accumulate valuable life lessons that we can pass on to younger generations. We should not view aging as just a physical decline, but also as an opportunity for intellectual and emotional growth.