I find that a lot of the really good developers get promoted to managers by their 30s. Or similar roles that are over 50% communication/meetings, such as product, scrum master, analyst, architecture, etc.
Even though a highly productive programmer can be even more valuable than a manager, few people remain as a programmer.
What keeps people from staying on as a programmer? What should I watch for if I want to go down this path?
Being a programmer all your life is like being a musician. It rarely pays well, it has a lot of issues. Lots of people think of themselves as programmers, just like most people who learn to play an instrument think of themselves as musicians. But there is a vast difference between being able to wrie a program (or play an instrument) and making it into a career.
There are very few musicians who perform throughout their lifetimes. There are very few programmers who write code throughout their lifetimes. You have to love the work.