If you plan on developing cutting edge games until you are 65, this article is probably true. If you move on to more mature pursuits as you age, you can keep up with the younglings.
But, the money part is very true. Software development is not a high-paying job anymore unless you are a “rock star” game developer. But, the same skills and talents can lead into system administration or information security and you’ll be able to find decent work for life...as long as you keep those skills and technologies current. Get stagnant and you become a “Netware guru in a MS Server world”. Been there. Did that. :(
Well, $65 games are pretty much a dead end as it takes millions in research alone. (I used to work for Rockstar as an intern years ago), but just like in business, if you are 40 plus you should be able to head your own department. My brother’s pal used to work for EA and from what he told me, they pay sh*t (less than 12/hr on texture rendition as an example) and the only reason why dudes work for EA is the culture. After you hit 30, you are pretty much ostracized.