When you do that, you keep the voice youthful, flexible and powerful. You will be able to speak and sing with a clear, strong voice for your entire life.
As an 'older' singer myself, I love my voice now. I don't need to prove that I can hit stratospheric high notes -- why bother? I have nothing to prove. I can sing WITH emotion, and WITHOUT ego, and wow, does that feel good!
I take time with a lyric, I come from a place of experience, I connect with my listener as a storyteller, not a technician. Letting go of perfection allows me to relax into my story and tell it with a voice that can reveal every nuance of an emotionally charged lyric.
The Boston Globe just ran a story about aging, veteran singers that is a great read.
Here's a photo of me at a recent gig -- feeling comfortable with myself and my beautiful, mature voice!
Keep your voice in shape; honor it, and it will serve you well throughout your entire life.