Will sense of balance diminish with age?

Someone told me that above the age of 70 balancing becomes difficult. Obviously that does not apply to everyone. Here is a tightrope walker at the age of 96 and he still performs.

http://www.reuters.com/news/video/videoStory?videoId=32048

And he gives us some very good advice: “All I say, if you want to do something, do it with love and passion or don´t do it at all. If you are forced to do something, there is no love behind it. What if you do even just a small something with love and passion, it will be well received.”