All health issues aside, I think 40 is about as late as I'm comfortable with, for my own theoretical kids. (and this applies to both mommies and daddies!)
I'm male, and the way I think about it, parents must be in a good enough state of health and mental capacity at the time their grandchildren are born, to be able to hand down valuable parenting knowledge and assist their children with raising their own. IMHO, it takes two generations to most efficiently raise a third.
Lets assume that the average age when a couple decides to seriously start a family is, say, 30 years old (accidents don't count). That means that this 56 year old mother would be 86 when that time comes. Will her kids be on their own, due to granny's death, weak health, or mental illness? The magic 8-ball says "All Signs Point to YES!"
A 40 year old mother would be 70. Thats already pushing it, but the odds are a bit more in her favor.
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