Snoop Dogg on Accepting His Age Ahead of Turning 50: 'You Gotta Treat Yourself Like Fine Wine'

Jemal Countess/FilmMagic Snoop Dogg

Snoop Dogg is sharing his cool and relaxed attitude about aging ahead of his milestone 50th birthday this fall.

In a new interview with PEOPLE, the "Drop It Like It's Hot" rapper, 49, opens up about getting older, "wiser" and his plans for the big 5-0 celebration in October.

"I'm probably going to do a player's ball party where everybody can be dressed up, give away some awards, have some good musical performances, you know what I'm saying?" Snoop tells PEOPLE while promoting his new partnership with good friend Martha Stewart and the BIC EZ Reach Lighter. "I'm old school. So I just need my event to be wholesome and nice, where people can leave there saying, 'I had the time of my life.' "

And any guests of Snoop's future bash have to look fly. Talking about the future occasion's formal attire, he adds, "Everybody has to dress up, you can't just get in here. You got to actually spend some time on your look, your outfit. The whole nine [yards]."

RELATED: Snoop Dogg and Martha Stewart Prove How Well They Know Each Other in Best Friendship Challenge

Going on to share his feelings about getting older, the rap superstar says he has no qualms with aging, reminding people that they get "better over time" and to "make the most" of every day.

"You got to treat yourself like fine wine. They say fine wine, it gets better over time," Snoop says. "You got to look at it as you get older, you get wiser, and how to treat yourself, treat others. You learn what life is about. So every precious day you here to actually live another day, you should make the most of it. That's what I focus on the most — trying to be the best version of me every day."

Gary Miller/Getty Images

BIC

And in his decades-long career, Snoop has adopted the "can't stop, won't stop" mentality as he continues to hustle, working on TV shows such as The Voice, where he serves as a mega mentor, a new album, From Tha Streets 2 Tha Suites, and expanding his lifestyle empire with close pal, Stewart, 79.

The dynamic duo, who recently participated in Jimmy Fallon's "Best Friends Challenge" on The Tonight Show, have come together on the new BIC EZ Lighter campaign, just in time for all the summer lighting occasions.

Explaining that he and Stewart loved the look and the concept of the extra-long lighter designed for lighting hard-to-reach places and keeping fingers away from the flame, Snoop says, "We're coming together to collaborate on this easy EZ Reach lighter because this is a lighter that is very beneficial to both of us."

"It's just an easy access lighter when she's cooking and making her different things And they mean when I'm lighting my candles, and lighting up that thing that killed John Wayne, EZ Reach, so I can get to it to do it," he says.

A successful music mogul and entrepeneur, the rapper and actor has never forgotten where he came from and how others impacted his life and career along the way.

Taking a minute to honor the late DMX, Snoop recalls one of his favorite memories with the fellow rapper — one that happened to be a recent reunion for both stars.

"I've had a ton of memories with them, but the Verzuz battle just stands out just because it gave us an opportunity to show the whole world that we love each other," Snoop says of the July Instagram Live music battle. "... to see two black men really entertain, really perform and who actually love each other in front of an audience and not be afraid to love each other."

"That's a moment that nobody could take away from me that, you know what I'm saying, me and him shared that ... It just went down like that. It felt good and it's timeless, so people could watch it over and over," he says.

RELATED: Snoop Dogg Remembers Late Rapper and Actor DMX: 'His Soul and His Music Will Live On'

Matt Winkelmeyer/Getty; Paul Warner/Getty Snoop Dogg, DMX

On April 9, DMX — born Earl Simmons — died at White Plains Hospital in New York, his family confirmed to PEOPLE. He was 50 years old. The "Party Up (Up in Here)" rapper had been hospitalized in grave condition on April 2 after suffering a heart attack at his home, his attorney Murray Richman previously told NBC News.

Snoop also reflected on the 2020 Verzuz Battle during an April appearance on The Tonight Show.

"We had God in the building with us that night," Snoop said at the time. "That makes me feel good about DMX's transition to know that he's off to a better place and he's finally got his angel wings."

"Legends never die, their soul will continue to bless the world and he was a great spirit who always looked out for everybody," he added. "He always prayed for everybody."

Reflecting on DMX's legacy now, Snoop tells PEOPLE, "I feel like all the great work that he did, should be a sign of happiness to people in the world. He spoke a lot of great things. "

"He did what he was supposed to do while he was here. And that's what we got to focus on. What we're doing while we're here, look at what he did, how many jewels he left us. How much great information and testimonies, just great pieces of life that he left us: he can live on," he says.