My company hires management based on management experience, not experience in the field I work in.
Unfortunately I'm going to have to agree with this - especially in the higher levels of management. Sometimes it is the organization's lack of understanding of IT and need to relate to the IT manager that leads to someone with limited tech experience being hired. Other times a once tech savvy manager ends up getting further and further removed from operations - instead being forced to spend their time politicking and worrying about bottom lines.
Ultimately you should make your decision based off of what makes you happiest - as others have said. Get an understanding of what your role in management will actually entail and determine the distance you'll be from operations.
Being 39 doesn't make you 'too old for tech'... being lazy, unwilling to change, inexperienced and out of touch does. On the other side - some people are built for management and some aren't. Unfortunately a lot of people who aren't still end up in management positions.
What good is a ticket to the good life, if you can't find the entrance?