personal memories from their own past

When people reminisce about "old times," they may be referring to personal memories from their own past, such as childhood or earlier stages of life, or they may be reflecting on broader historical periods that they find intriguing or romanticized.

Overall, "old time" is a flexible term that can evoke a sense of nostalgia, historical reflection, or a longing for simpler times, depending on the context in which it is used.