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Wood stain does go bad, but it will last in the can for between three and six years, provided you use proper storage techniques. Storing wood stain in open containers or in extremely low or high temperatures will cause your wood stain to become unusable much more quickly. Water- and latex-based wood stains typically last for just two to four years, while oil-based wood stains can last for three to six years.

For the longest-lasting exterior paint, consider acrylic or enamel (oil-based) paints. Acrylic paints, including acrylic latex and acrylic enamel, are known for withstanding harsh weather and sun exposure. Enamel-based paints are also one of the most durable options available. While latex paint is common, it typically has a shorter lifespan than acrylic or oil-based options. The paint's finish also affects its durability; a higher gloss finish is generally more durable. For resistance to moisture and cracking, matte and satin finishes can be effective, while a high-gloss acrylic or oil-based paint offers a combination of maximum longevity and durability.

For the best results, you should apply two coats of paint to your wrought iron fence. Let your first coat dry for about an hour then promptly apply your second coat.

Whether to brush or roll stain on wood depends on the project and your preference. Brushing is ideal for smaller, intricate areas and offers more control over the application, ensuring thorough coverage and penetration into the wood's grain. 

Conversely, rolling is efficient for more extensive, flat surfaces and can save time. However, it is not always the best fit for textured or uneven wood. Some projects may benefit from combining both methods, using a brush for detail work and a roller for broader areas. Ultimately, the choice between brushing and rolling depends on the specific requirements of your staining project.