The sense of smell and taste tends to fade with age no matter what gender. But staying healthy will do a lot to combat this. Eat real food, do deep breathing, lots of vegetables and "green food". The more raw food I eat, the keener my sense of smell. I notice a huge difference in how I smell things depending on what my diets been like, and I'm only 21.
I know people in their 80's who can barely taste or smell anything, and other people the same age who can smell things from miles away. The former are almost crippled, but the latter have kept themselves in good shape.