I don't think it is ever too late to study.
As a matter of fact we are all studying as we go through life anyway. Every day we learn something new as we advance in our work, relationships and personal developments.
To study is simply to do it formally and in routine, that's the way I see it. I also think that when we age it is especially more important to study because it keeps our brains stimulated. You might think that if you're retired then there is no point either, but actually retirement is a perfect time to study something you're really interested in.
Most retired people have plenty of time on their hands, which means they can use that time to dedicate themselves towards a particular area of interest.
I think it's more popular for older people to study these days, simply because it's become part of common society.
Instead of asking, â€śShould I study?â€ť, I would ask myself â€śWhat should I study?â€ť