I can tell you as someone in that age bracket I have never had more opportunities and a higher paying salary at any other point in my life than right now, without a doubt. Even in the current economic climate I had 3 interviews this week and I'm barely even looking.
Never undertake a degree without a purpose, e.g., a PhD, unless there's an net positive (amortized) lifetime economic incentive to do so, otherwise it may be a waste of time and money.
It depends on the gray hair count and chin sagging. Fixable with dye, plastic surgery, and other forms of creative, strategic deception. :)