This was a fun process and made for a great costume. I bought a face prosthetic and some liquid latex and everything else was either stuff I had at home or thrift store finds. The most time consuming part was applying the prosthetic on my face, followed closely with the liquid latex on my chest, arms and legs and then applying the make up. I had to shave my arms, legs and chest since the latex would pull the hair when removed. To create the wrinkles with the liquid latex, I used tissue under the latex and made sure it wasn't laying flat. After the latex dried I used some makeup to make the skin color similar all over, and made sure to add some age spots under the last layer of makeup. Total transformation took about 3 hours, not bad considering I did it myself and it was my first time.
The results speak for themselves. I am a courier for a bank, and did my route in this costume and pretty much fooled everyone! I even developed shaky hands and a slight limp to sell it. My best costume to date!