Seriously, depending on where you work and what you want to do, you don't have to keep on top of every new fad. I'm a few years younger than you, but have largely considered most of the recent trends to be fads, or niche things. I'm a happily employed electrical engineer who does C, Forth, and 68k ASM programming and embedded work, and I've crafted my position to be as much business analysis as technical. I'm lucky enough to work for a department where I could basically morph my job duties to fit my talents. I considered management for a while for many of the same reasons that other posts suggest - that it has a further career track, and that I wouldn't be outpaced by the younger people coming in. In the end, I realized that there will always (or at least for the foreseeable future) be a place for programmers who have a greater understanding of the business their code supports, and have the skills to maintain and upgrade legacy systems. C isn't going anywhere for a few decades at least - it's still by far the most portable thing on the planet. I also realized that while I'm good at motivating and organizing good people, I suck horribly at dealing with the problem ones and therefore, I'm not management material.
Don't give up the technical side just because you're afraid of learning new fad X, Y, or Z. If you're a technical type where software is not the end product but supporting a larger business, the ability to understand and solve business problems in a consistent, efficient, and rational manner is much more important that whatever the hell trend Infoweek is pushing this week. Give up the technical side because you honestly think you'd make a better contribution as a manager. In the end, doing what you enjoy and providing real value to the company will likely make you happy.