Old guitar player here, too. (63 also). Sometimes I anchor, sometimes I float, just depends. I understand what you mean about having to reach for the higher strings, but it's never been a problem for me. My wrist and elbow make up the difference somehow, and all's well. I think you have to read about others' technique and then find your own way. (Actually, I never read a thing about it when I switched to bass back in '88. I just played the bass).
2001 American Series Jazz Bass / 1987 Jazz Bass Special
Markbass Little Mark III / dual 151P cabs / 121H combo