Unfortunately there is a significant reduction in ability to balance with age.
The ability to maintain a one-leg standing position and the relation between plantar two-point discrimination and standing time on one leg were assessed. Participants were 1,241 apparently healthy people aged 2–92 years. Participants were asked to ...
www.ncbi.nlm.nih.gov
The balancing on one foot with eyes closed has really deteriorated for me. In my 20s I did not find it difficult and could do it just about indefinitely. Now in my 40s I have to really focus hard and clench my abs like crazy to get to a minute. Otherwise I touch down in a few seconds. It's demoralizing.
The main balance in Tango is in walking. Which requires proper technique. Part of which consists of grounded weight transfers. Common to all dance movements is engaging core.
I always had better balance and endurance than my peers in any physical activity whether sports or dancing. If my technique is slightly off, or I am not paying attention and let my partner pull me off my axis, I will have to catch myself from losing balance when dancing the simple tango walk. I rarely ever lose balance in any other activity or dance style.
I said main because we spend more time walking than other movements. The ochos, molinetes/giros, enrosque, lapiz, and many other figures also require balance. But with practice and right technique it is very attainable. The challenge is figuring out the technique that works for you. Most instructors aren’t really good at breaking down technique.
One of extremely popular class locally, ages ago was a 90 minute walking class. It used to get so packed that people had to register for drop in. The studio could only hold 40 people and 50-60 people would show up. Another very popular instructor used to spend first 30 minutes of her two hour weekly class only on walk. A big majority in both were not beginners but age ranged from 20s to 60s.
Luckily we don’t need to walk on balance beam or pirouette to dance tango

Tango is like fine wine. Only gets better with age.
But relevant for milonga, surely
Yes, I was planning to add a caveat for milonga. Since you are a salsa dancer, milonga should be easier for you

In my experience I can lead a untrained salsera in a milonga easier than 70% of tangueras. They can adapt to quick syncopations, change of direction, double time, shorter steps easier. I find a lot of Tangueras struggle with it. During milonga tanda, 60% of the people are still doing tango steps. That despite milonga workshops being offered every week by at least two different traveling instructors during summer. I assume these workshops must be very popular if they are been offered constantly by a string of different well known names.