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I've just started running again after a 19 year break! At 27 I ran 33:25 for 10k and I'm now 45 and I am giving running another go.....
Started back in November and couldn't run for more than 2 minutes without needing to walk, I'm now up to 20 miles per week (my longest run so far has been 7 miles), although this year I've had two weeks off with a dodgy hamstring and another with a bad cold - so total for 2012 is 145 miles so far (so only averaging 14 miles per week).
So far I've managed to lose a stone in weight (currently @ 11:10 - was 10stone when I was 27!) and my overall fitness is developing well. I ran a 5k last weekend and managed 23:30 (with a killer last mile), my threshold runs are @ around 07:55 which keeps my pulse in zone 4 and whilst its hard I keep it going for 4 miles and rekon I could go to 5/6 miles if I had to. I'd like to get under 40mins again for 10k but don't expect my rate of improvement to continue.
Thats the background, now the question - how fast have you increased your fitness and running times after a long layoff, and how long did it continue to improve until you plateaued?