I don't know what you mean about "being furloughed for the first 2 years." For current info on rates of pay, etc., you need to talk to Amtrak. Also, you'll be training at one of the major crew bases, and I guess you're concerned about someplace to stay during that time. The fact is, you would likely be working out of that same crew base, and you would be on the extra board, subject to being on call for a long time. In my case, I spent 1987 and most of 1988 on the board, and I know people who were on the board for four years or more before getting a regular, predictable schedule. If you explain your situation to Amtrak, they might be able to help you to work out some temporary living arrangements during training, but I'm not sure about current policies. Once hired, you would need to live within about an hour or so distance from your crew base.
Amtrak doesn't discriminate based on age, but the nature of the job does discriminate. Hours can be very long, and sleep time can be very short. As I get older, I need more sleep, and I was having a hard time getting it when on the railroad. Fifty three isn't old, but it's not really young either. Many people your age can handle the job; others can't. Your age can actually be considered a plus if your health is good, because a certain level of maturity is important in the job, and some of the younger folks seem to need "seasoning". I started when I was just about to turn 41, and I stayed until this past June, retiring at 68 years of age.
You say you have a job to supplement your income. Is it part time? Be aware that there is no such thing as a part time job at Amtrak. You have to be prepared to spend A LOT of time on the train, away from home.
As mentioned, you would have to stay on the job for 30 years (360 months) to qualify for a full pension. I seriously doubt that you'll still be on the job at 83 (because you don't sound like you're that crazy!). I'm not sure how long you would have to stay at Amtrak before you qualify for a Railroad Retirement (RRB) pension because the rules have changed in the years since I started. You might stay just long enough to qualify in your early 60's and retire with a decent RRB pension, but not a full 30-year pension. This would be a nice supplement to whatever retirement plan you already have. If you leave Amtrak before qualifying for RRB, you would not lose your RRB contribution. It would be rolled into Social Security & you would get it through SSI. It might be worthwhile to contact your nearest RRB office and ask them. I deal through the Baltimore office, and have always found them very friendly & helpful.
You didn't mention your home/family situation. The job can be a strain on a marriage, and it means missing holidays with the family, birthdays, weddings, anniversaries, christenings, graduations, and any other special occasion you can imagine. If the train is running, you're expected to be on it. There's only one special occasion you can be sure of attending, and that's your own funeral (Sorry, but I couldn't resist adding that on Hallowe'en weekend).
I've probably totally depressed you by now. But the good parts of the job are not to be forgotten. Folks who have read this forum for a while can tell you that I've often said I enjoyed the heck out of the job. There's a great feeling you get when you help a passenger who really NEEDS the help. Or when you help a kid to learn something new about this country's geography. I've met thousands of people, both passengers and fellow employees, and have enjoyed their company so much! I forged some wonderful, long-lasting friendships with fellow employees.
If you go for it, do it with your eyes open. Whatever you decide, Good Luck & always remember to keep the wheels on the bottom.
Tom