I turn 41 next month and have been a developer for the two decades that I have been in IT. A 50 year old up to date on the latest tools seems to be the rare exception. The rule at my current employer seems to be after hitting 50-55 that they really have their eye set on retirement. Learning a new skillset has such low dividends that they don't believe it is worthwhile. They show up to work right on time at 8 am, they spend an hour getting their coffee, perhaps breakfast from the cafeteria, chatting with coworkers, etc. Then they stare at a mainframe screen full of Cobol code for an hour or two, take a 90 minute lunch, attend a few meetings in between staring at mainframe Cobol code and then leave at 5 on the dot.

They spend two weeks on changes like, "Modify program P90182 to set value 82 instead of value 81 in field CONVEXITY", dutifully put in their change request documents and then move on to the next change honestly believing they're earning their inflated salary.