Edward Lasker never "earned" the IM title. His entire chess career took place before FIDE had standards for earning IM and GM titles. He was awarded the title years later, sort of an estimate of how strong a player he was at one time. Actually, at his peak he was likely GM strength and may well have been able to earn that title in an era with more frequent top-category events.
Learning chess later in life

In 1970s and 1980s I played weekly at a local chess club in Berkeley, California. The "Fischer boom" made chess popular at the time, and several people who brought their eager children to the club tried out chess for themselves as long as they were coming anyway. A few liked the game and continued to play even after their kids left. Starting chess in middle age definitely sets an upper limit on chess achievement, but these latecomers all achieved ratings in the 15500-1800 range without being able to put the time and energy into studying the game that many youngsters do. The point is that they could play well enough to get satisfaction and enjoyment from chess, so any "older" person that finds chess interesting should give it a try. Realize that it will take some time learning and practicing to become good enough to occaissionally produce an effort you will find pleasing and rewarding.

Don't overlook the value of just playing over master games. If you go to More>Master Games on the menu here, you will find thousands and thousands of great games from great players to just "watch" as you click through them. I'd start with Morphy's games because they're just so brilliantly clear. Play through each game a couple of times, trying to figure out the thoughts behind each move.
Also, there is a gigantic amount of material on YouTube! Gotham chess, John Bartholomew, agadmator, etc. etc. are all wonderful places to start, and I'm sure you will build up a library of favorites that both entertain and instruct. Anytime you don't feel like playing, you can just kick back and watch.

Amazing how many insightful comments we have here! What a great community. But I'm encountering a lot of sometimes dramatically conflicting advice, like: focus on opening theory VS. tactics, Sicilian is a good opening for a total newb VS. it's only for masters, etc. I guess in the end everyone has to find their own way and that while computers have somewhat solved chess, the best methods for improving a human's abilities are far from obvious.

Hi! My name is Lauren Goodkind and I'm a chess teacher based in California! I'm glad that you picked up chess. It's never too late to learn something new.
My advice to you is to play slow chess games (preferably 30 minutes or longer)
I played a lot of poker in California and I really miss the bay area.
A few people are recommending slow chess but my best game so far seems to be bullet I guess that's because the limit poker I focused on is played very fast and the only video game I'm good at is Tetris. IOW I'm finding it pretty easy to apply my primitive approach to strategy under time pressure. And I had the idea that it's better to expose myself to many games in order to see many scenarios more quickly. But I'm starting to see how focusing on deeper learning is the winning approach in chess. The scenarios you encounter playing low rated players aren't going to be informative when you're trying to beat higher rated players. It's different in poker where the goal is to maximize your EV (or win rate) in all kinds of scenarios, at the extreme including even playing very bad players and world-class players in the same hand simultaneously. Thanks!

I'm doing the Chess.com lessons and I think they're pretty great, but aside from that. Books?
Also, what's a reasonable lofty long-term goal? I have a ton of experience playing poker but virtually none with chess until a couple months ago. I realize no one is becoming a master learning the game at 40, but I still want to find something to shoot for.
With a reasonable balance between OTB competition and onboard studies out of books, you can land somewhere between 1600-2000 after a few years.
Out of exclusively online games and studies, you can probaly reach some 1400-1600 level within the same amount of time, depending on your motivation and your natural talent.
But that's just my opinion, as I'm not so experienced or learned about such late learning.
In my Chess club there is the case of that guy, who would pick some hobby, and decide he'd be France's Champion of it. He made it in a few things, then tried Chess, and gave up after 5 years realizing this would never happen. He made it to 1785 tho, which is remarkable, considering the age he began (like 45-50).
Cool. So I suppose if someone like me could get above 1785 they'd know it was at least somewhat remarkable. Thanks for the example and the reasonable sounding targets!
I'm 44 and started playing last january. I've got to 1500 in Daily. I should spend more time on my rapid but prefer longer controls such as 45|45, it's difficult to find time and I dont feel energised enough in the evening, after the kids have gone to bed, so mainly Daily and study in the evenings mainly using books and increasingly Chessable. Anyway, I barely know any Openings, only the first few moves of the mainlines of a couple. I dont feel its held me back yet. I just play those lines and then opening principles and what I think the position requires. I've mainly studied tactics and positional chess by playing though GM games and a couple of middlegame books. My breakthrough came when I got basic blunders more or less under control which was down to better calculation, visualisation and thinking about the opponents moves and plans. Nothing to do with openings really. My impression is issues that hold back improvement are much broader than memorising moves.

I firmly believe anyone can become a NM with enough study, but that is the question.
How much time are you going to spend on this game?
Beth magics her chess knowledge, but likely someone at a master level would be spending 5 ~ 8 hours a day just practicing for themselves as well as spending more time teaching others.
well I don't have 8 hours a day to learn chess! haha
Have ppl who picked up chess at 40 ever got to that level? Doesn't seem possible but what do I know. I was thinking more like 1400-1800 rating one day, whereas I'm guessing NM is a rating of 2500+ ?
NM is set by the country, but in the US an NM is 2200 USCF, which is approximately 2100 FIDE.
The FIDE ranks are
CM at 2200,
FM at 2300,
IM at 2400(plus IM norms)
GM is 2500(plus GM norms)
Norms are just extra requirements.
1800ish is the chess graveyard.
Chess, like life, is an activity that you get stronger at until you one day say, "yeah, that's about enough" and stop. The effort it takes to break that 1800 threshold is pretty tough, and most players realize it takes a lot of work and they decide they are strong enough. So 1400 ~ 1800 if fairly reasonable.
Edward Lasker earned an IM at 74.
Oscar Shapiro became a CM at 75.
So yeah, there are definitely people who became masters late in life.
OK I see 2500 is more of a GM rating and an NM is lower.
I'm reading about those players... seems like Lasker was a 5 time US Champion by the time he was 36 and that Shapiro was the Massachusetts State Champion in his mid teens. Perhaps not a great examples for this thread but still inspiring.

I'm 44 and started playing last january. I've got to 1500 in Daily. I should spend more time on my rapid but prefer longer controls such as 45|45, it's difficult to find time and I dont feel energised enough in the evening, after the kids have gone to bed, so mainly Daily and study in the evenings mainly using books and increasingly Chessable. Anyway, I barely know any Openings, only the first few moves of the mainlines of a couple. I dont feel its held me back yet. I just play those lines and then opening principles and what I think the position requires. I've mainly studied tactics and positional chess by playing though GM games and a couple of middlegame books. My breakthrough came when I got basic blunders more or less under control which was down to better calculation, visualisation and thinking about the opponents moves and plans. Nothing to do with openings really. My impression is issues that hold back improvement are much broader than memorising moves.
Wise words! It's so easy to get sucked into wanting to learn opening lines (speaking from personal experience), but, unless you're already a moderately strong player, you're opponent isn't going to play standard lines. But opening principles can get you far. (I wrote about one such experience here: https://www.chess.com/forum/view/for-beginners/important-tip-for-beginners-who-want-to-learn-openings )
But even a great opening only sets you up for a mid-game, and that's where you have to know tactics, visualizing attacks (both yours and your opponents), and even after that, you can't win unless you have a clue about endgames.
I'm sort of repeating what you are saying . . . but that's because I think you're totally on the right track.

I hope these tips will serve you well:
https://www.chess.com/blog/nklristic/the-beginners-tale-first-steps-to-chess-improvement
Good luck on your chess journey.
thanks for this and congrats on your big improvement

In my opinion, chess has 4 main territories (openings, strategies, tactics/combinations and endgames). If you want to improve efficiently, you should improve all of these skills almost at the same time.
I think this is the approach I'll take. Thanks for replying!

Well, if you're a good poker player, you'll know what it means to put in the work to study and learn a game.
...
One good book would be 'How to reassess your chess" by Silman.
Also look through this forum for similar threads with more advice.
P.s. the good news is, though, that improving at chess is always possible, even when you start out a little older.
Thanks! I put in a ton of work to learn poker when I was in my 20s. Read 40+ books and all sorts of articles etc. so yeah, I know where you're coming from. I'm not good enough at chess to comment on how they cross over, but there are probably some commonalities surrounding the evaluation of how exchanges and may affect your position later in the game when these things are less obvious, when you don't know what your opponent might do (and they don't know what you might do), and so you are in a bit of a case of incomplete information and forced to "gamble".

I’m 63 and just started playing the end of December.
That's awesome! Keep us posted on your progress pls. I am finding that the game is making my mind *significantly* more sharp in general. I was surprised at that. Do you find that?

Its like learning a new language. Adults can learn new languages and even be fluent just like chess. Kids learn things quicker, like languages and chess for various reasons. Becoming a grand master is something else though, you can become fluent in a language, but could you write a flawless novel in that language, or win a politics debate?

I see what you mean. I guess it's like sports too. Many people are physically capable of, say, training like crazy to run a 5 minute mile. But no matter how hard they try, almost none of them could ever run a sub 4 minute mile and go to the olympics. That's why it's important to just enjoy the experience of playing the game and it doesn't matter if you're bad, mediocre, or advanced, expert, master, etc. we're all just enjoying a similar experience.

I also started playing more seriously at 37. Here's what's working for me : slower time controls and less is better. I play 30m rapid and I try to play once a day, maybe twice.
I'll now try to stay away from blitz and bullet, they don't suit me at all and are absolutely useless for me : I'll lose on time in winning positions or make mistakes that I would not do otherwise, this isn't what chess is for me.
Other than that, puzzles where I don't care about the time it takes me.
I firmly believe anyone can become a NM with enough study, but that is the question.
How much time are you going to spend on this game?
Beth magics her chess knowledge, but likely someone at a master level would be spending 5 ~ 8 hours a day just practicing for themselves as well as spending more time teaching others.
well I don't have 8 hours a day to learn chess! haha
Have ppl who picked up chess at 40 ever got to that level? Doesn't seem possible but what do I know. I was thinking more like 1400-1800 rating one day, whereas I'm guessing NM is a rating of 2500+ ?
NM is set by the country, but in the US an NM is 2200 USCF, which is approximately 2100 FIDE.
The FIDE ranks are
CM at 2200,
FM at 2300,
IM at 2400(plus IM norms)
GM is 2500(plus GM norms)
Norms are just extra requirements.
1800ish is the chess graveyard.
Chess, like life, is an activity that you get stronger at until you one day say, "yeah, that's about enough" and stop. The effort it takes to break that 1800 threshold is pretty tough, and most players realize it takes a lot of work and they decide they are strong enough. So 1400 ~ 1800 if fairly reasonable.
Edward Lasker earned an IM at 74.
Oscar Shapiro became a CM at 75.
So yeah, there are definitely people who became masters late in life.