Karl Malone had huge money after 35 as well. At age 35, he made just over 6 million, at age 36 he made 14 million and that was a 4 year deal. His last year in Utah he was 39 and made 19.25 million.
Kobe also had big money after 35.
In 1989, the salary cap was 7.232 million. Kareem at age 41 made 3 million, which was slightly less than Magic and his 3.14 million. Worthy was 3rd on the team at 1.3 million. The prior season Kareem was 2 and Magic 2.5 and when Kareem was 39 he also made 2 million, but Magic was only at 1 million.
In 95 at age 32, Hakeem made just over 3.1 million. That went to over 9 million at 33, and then he had the only 4 years over 11 million, ending in 2001 when he was 38 and made 16.7 million, which was nearly 3 times more than the next closest Rocket (Cato at 5.3).
Barkley made big money in Houston. The deal Pippen signed in Houston (which most of he was in Portland) seems almost identical to the one Lillard signed just with late 90's dollars.
The numbers today are crazy, but looking at other all time great players, this actually doesn't seem to be all that uncommon. I just don't think we think of it the same because the money is just different today.