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Those age ranges won't have any mechanical effects - races don't actually have big mechanical differences for balance reasons. 

However, age is a thing in terms of your appearance. You can describe yourself however you want, but when someone looks at you, they see some characteristics about you determined by the game, like height, eye color, and age-appearance. I talk about age-appearance because technology exists in Starmourn to rejuvenate your body substantially. You might be 200 years old, but look 25 years old, for instance. If you don't rejuv, you'll eventually (could be a very long time depending on how long your race lives) look old and decrepit in the sense that the game determines that you do, though again, we can't stop you from describing your old and decrepit self as young and vital in the free-form description of your character.