What you're describing isn't "formal attire", it's dressy casual. I started wearing dressy casual attire in my early 20s, partly to elicit better reactions/treatment from strangers and partly because I liked the style. It was a good thing I liked it because the idea that it would improve broad social interactions didn't pan out. People who saw "a kid" (and applied negative stereotypes based on that) still saw "a kid", albeit one dressed nicer. I did get compliments from my friends, though.