Board Thread:Speculation House/@comment-27087508-20180218065333/@comment-25396609-20180218071415

Given Raven likely wouldn't have stuck around for long after graduation due to her commitment to the tribe, it's possible she ONLY stayed because she was pregnant and knew that Tai would come for their daughter if she took Yang with her. Following that train of logic, she would've stuck around long enough to have the baby and left Yang with her father just to avoid having to deal with several trained Huntsmen (Tai, Qrow, and Summer; if not more) coming after her to get the kid.

Odds of her being much older than 39 are quite low as a result of available knowledge of her personality.