Looking for a movie title - California late sixties/early seventies?

Im am looking for a movie filmed in the California surf scene of the late movies. It is about the vanishing dreams of living free. It circles about a bunch of young people who are friends with an older guy who still lives his laissez faire attitude. Every morning he steals his neigbors's newspaper, wearing his white shorts and jumping across the fence. That's all I remember besides a beautiful sentimental mood this movie creates when watched. Does anybody have a clue which flick I mean? Thanks in advance!