PHP 5 Soon Obsolete
 

I am sure that someone has sent you something like this but if not,

"PHP version 5 is widely used by WordPress and many other web applications today. PHP 5 will reach end-of-life in 2 months. That means it will no longer receive security updates. A new vulnerability could be catastrophic for sites that do not migrate to the newer version of PHP.

Unfortunately many WordPress sites remain on version 5.6 or older. In today's post we explain which versions of PHP will continue to receive updates, how to update your website and everything you need to know about migrating from PHP 5 to PHP 7 to keep your site safe."

Cliff Notes? Move to PHP 7 ASAP or you'll be fucked (eventually).

True, BUT...
Many of the scripts we use in this biz are no longer supported, and even if they are, converting them to be PHP 7 compatible is a huge task.

I recently did a major project using PHP and MySQL. In that situation, since it was new from scratch, using code that is PHP 7 compatible was easy, as was using the new MySQLi standard.

Rewriting existing PHP 5.x code or converting MySQL apps to MySQLi is a completely different process. Probably easier to start over from scratch. Either way, the investment is difficult to justify given the current state of the biz.