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There are studies demonstrating the rise in SHBG with age, but maybe this phenomenon should not be blamed for age-related testosterone problems. The regulation of testosterone production is via the level of free testosterone, both directly and also through its conversion to estradiol. From the Multi-Ligand Binding Model it seems as though an increase in SHBG may cause a modest increase in free testosterone, perhaps a modest decrease in free estradiol, and a more significant rise in total testosterone. With increasing age, however, we normally see a decrease in all three parameters. The causes of age-related testosterone issues are more likely to include increased aromatization from greater adiposity, secondary hypothalamic and pituitary issues, and poorer testicular production of testosterone. The trends towards testicular insufficiency is reflected in LH levels that rise with age, on average.