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I am 58 (next month) and have been running regularly for just over two years. My aim is to still be running three times a week when I am 65, so qualify to submit this post. My only target is to run 5k twice a week and 8k on a weekend with no time targets, just to enjoy it, which I am doing. I do try to add a few 'sprints' (probably more like running instead of jogging) to try to increase my jogging speed but that's about it.
I did have bad knees before I started to run regularly, now they are much, much better. I try to run with good form, which I think is important, and stay within my comfort zone most of the time. I think that most people, whatever their age, could benefit by running easily, regularly and having a day off after each run. If you can do more than that then go for it.
I feel healthier, am eating better and have lost weight as a result of running, so I for one intend to carry on as long as I can.