Bob,
Yoga solves lots of problems. Rick started going to classes at age 64 because he was no longer able to jog or rollerblade due to a bad knee (well, two bad knees). It is unbelievable how it has improved his flexibility, because he had ZERO flexibility. And it has also virtually eliminated his lower back problems and helped him to improve his tennis game, particularly his serve.
Again, as with weight training, I think this is something that is difficult to do at home. If you have a class to go to at a specific time one or more times a week, it makes you be there and do it. And I think it is important to have a real live instructor for yoga to make sure you are doing the exercises correctly.