There are pros and cons. I think even though you and hubby are older parents, your experience as a teacher likely gives you an edge and some inside knowledge into what the young people get into. Also, you've given them some good, useful old school values that will come in handy one day. As hard as it was for me to have old parents, I'm forever grateful for what they taught me now.
As for dying, people die at all ages. My birth mother died at 25. My "old" adoptive mother lived to 92.