This is actually true. No matter your age, wearing a great suit makes you look more powerful and makes you impose more respect. People just look at you with different eyes. Don't believe me? Do an experiment, go to a supermarket and then to a bank wearing your normal clothes. Then wait a week and go in the same places wearing your greatest suit. Notice the difference - notice how people look at you and notice how people treat you.
Thanks for bringing this up uncle G!