This has been one of the hardest parts of getting older! When I was in high school, I was playing sports and could eat whatever I wanted! In college, I needed a bit more restraint but could still eat big portions and not exercise.
Post college, all of that changed... now I need to watch what I eat just to maintain my weight! I think a big part of it though is that I have less muscles than I used to, and so my metabolism is much slower. And also, maybe the aging process itself slows things down.
Have you noticed your metabolism slowing down as you get older? Have you had to make changes to your diet/exercise regimen to adapt?