I grapple with this issue constantly but don't impose a Crow's Feet style on how we describe ourselves and others over 50. Our understanding of aging, and the increased lifespan of humans, is evolving, along with it the language. Old age sounds pejorative, elderly, as you suggest, could be reserved for people no longer able to care for themselves. I'm not opposed to senior, as it could be imbued with the high status that high school seniors hold over freshmen (or is that freshpeople?)