it's never to late to start. just get it and do it. It's a learning process....do not consider mining a get rich quick proposition. Just keep making progress.... pick a good pool and some good coins. the value of whatever you mine will just get better over time. unless of course the whole thing folds. which i don't think will happen.
LTC - may be not late, but BTC... unless you are ready to compete with hardware miners (FCPGA; ASIC) - dont do it. IMHO