We have the opposite problem. I think 40 is the youngest programmer on our staff of about 10 people who are programming. I have jokingly told lots of people that my skills are so out of date that they are back in demand. I think it is similar with COBOL programmers. My skills aren't really out of date, they just aren't the "sexy" jobs in languages most people think of. I like my job and the people I work with and we get a lot of work done that drives a thriving business.
Not that we take any old "old" person. We just had a 60 year old on a 60 day "try and buy" and he couldn't stay awake - blamed it on medication. He did a lousy job also so didn't even last the full 60 days. We find it hard to find anyone qualified and the ones we do try aren't young. None the less, it is a great platform.