Pro bakeries really like it fresh. But they work under time constraint. If your yeast is only 50% viable it might take a longer rise. For a home baker that might not be a problem. If you're worried consider stepping up the yeast using a very wet dough (poolish method) and adding the remaining flour and salt once you have good signs of yeast growth.
I tend to use active dry yeast and I *think* I've used it 4 years out of code. Modern commercial yeast is pretty hardy stuff.
We had over a week of "snow days" out here, so I made a few loaves of bread to get back into practice. I got some higher end flour, King Arthur brand. I figure I'm still in for pennies on the dollar compared to decent commercial bread.
I've kept flour in the freezer for over a year without issue. One of the easiest recipes I've found was 6 cups flour, 1 tbsp salt, 1 tbsp sugar, water and the yeast packet.
All that stuff stores pretty well, and none is particularly expensive. If I was hardcore I could store wheat berries, but I figure unless I have yeast that can keep as long, the added labor to mill and prepare offsets the long term life a bit.
