helloguy :
Wow thanks for the quick reply! I also have another question, does PSU's lose wattage when they get older?
Not so much as losing wattage, but it does deteriorate and provide less efficiency and reliability. But PSUs can last a long time. I still have some PSUs running 5-6 years now.
But a good quality PSU is there to mainly protect your components. PSUs die. Even the best of them die. But the crappy ones are terrible at load because they're built with cheap capacitors and have poor ripple suppression, voltage regulation, low ampere rating on +12V, etc. Those deteriorate the components that the PSU supplies power to, causing harm to them. And then there are PSUs that are so bad that they actually blow up and blow out sparks of fire. That is very dangerous.
That is why a lot of people do not recommend others running cheap power supplies. It is serious business and not something to save some money on. That said, the one you have will be fine. It's a decent PSU.