I qualified at 35 and am a widebody Captain with a major carrier. I too had no hope of a job but the market turned shortly before I qualified and so there is an element of luck.
BAs age limit for a direct entry pilot, albeit with experience, hit 49 briefly in the early '90s.
In late '89 a friend who came up through hours building, mail flights in Navajos etc. took a gamble and paid for his own 737 type rating. The well known company that did his training offered him a job at the end of it! A gamble but it paid off.
If you can afford it go for it but do not underestimate the work or the fact that you may be unlucky and never really get the career opportunities that, through sheer luck, have presented themselves to others.
If you want more information send me a private message.