Nope, and in fact, if you have an older father, his ancient sperm makes you more likely to be born with autism or schizophrenia.
A study done in Iceland involving about 80 different sets of parents with no mental disorders who had given birth to autistic or schizophrenic children found that the risk of having a child with either affliction increased with the father's age (the mother's age had no effect). The reason for the increased risk is related to the way sperm is produced in a man's body -- sperm just kind of clones itself over and over again, like a Dilbert cartoon in an office Xerox machine.
And as with a Xerox machine, each subsequent copy is a little less sharp than the previous one -- each generation of sperm has an increased chance of mutation over the last. While none of these are the bitching kind of mutations that let you shoot lasers out of your face, most are relatively harmless. However, some of these mutations have been linked to autism, schizophrenia and other mental disorders, a connection that was totally supported by the Icelandic study. Of the cases they examined, as many as 30 percent could be attributed to the snowy white Albert Einstein hairs beginning to sprout from the father's musty old beanbag.
The estimated risk is admittedly low (maybe about 2 percent for a man in his 40s), but the number of sperm mutations steadily increases with each passing year. For example, a 20-year-old father has about 25 genetic mutations swirling around in his gravy orbs. Once he hits 40, that number is around 65. While it is by no means a guarantee that older men will father autistic and/or schizophrenic children, parents are definitely rolling the dice each year that they wait.