In 2012, this person will be 40 on the day of their birthday. As people are usually still referred to by their age of the last birthday, they would be 39 up to then. So if they are born late in the year, for most of the year they would be regarded as still being 39. Early in the year that would be even more accurate as their last birthday would have been quite recent. So if they were born in December 1972, in the early months of 2012 it would be more appropriate and accurate to say they are 39.
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You would be thirty eight if you were born in January of 1972.
If you were born in September of 1972, you would be 37 today.
you are or will be 38
37
Subtract 1972 from 2009 and you'll get 37.