Elderly is a category, and it's somewhat forced on one by society, I suppose. Don't get me wrong, I am one of the most immature elderly people I know, but by 40, you have lived half of your life or more, unless you are very unlucky (in either direction) so like I see it once you've crossed the mean, or the median, or whatever, you are on the elderly side. I don't consider it a dirty word, I don't feel that it defines me, but I do feel elderly. I suppose to put it better, I feel like an Elder (having worked with a Tribe for 10 years, that's kinda more the mindset you get, I really appreciate how many tribes treat their Elders, with great reverence and respect for their wisdom).
So, I am an Elder, and that allows me to do some things (like not have to tell EVERY parent you meet, "Yes, I am actually X age, (I do look younger than my years, which I ascribe to all those years I spent ACTIVELY not learning from my errorz due to well, stuff) and I have a kid, so don't worry," to every set of parents I seat in my therapy chairs and who viewed me with a deep state of horror/fear, and stuff.
There are benefits to age, but I agree that my state of mind isn't "Oh, I'm an Elder, so I can't do anything." Quite the reverse, I feel more qualified, more wise, and more able to have fun without wretched consequences than when I was young.
My first therapist told me my life would be happier the older I got, and so far she has been ENTIRELY correct. I don't sweat the elderly stuff, but I think it's silly to worry about a label like "Elderly" I prefer to own it, have fun, and keep doing my Own Thing. But Elderly is not a dirty word to me, not even a little. Don't be brainwashed by society.
Anna