For comparison, here's the Rod Stewart song, which I happen to like better than Dylan's.

Lyrics copied from http://www.rod-stewart.de/text/forever_young.htm (This page has a midi file.)
(There are chords at http://www.geocities.com/Hollywood/Academy/3225/Rock/Rod_Stewart/Forever_Young.txt )

FOREVER YOUNG
(Jim Cregan, Kevin Savigar, Rod Stewart)

May the good Lord be with you down every road you roam,
And may sunshine and happiness surround you when you're far from home,
And may you grow to be proud, dignified, and true,
And do unto others as you'd have done to you.
Be courageous and be brave
And in my heart you'll always stay
Forever young (forever young),
Forever young (forever young).

May good fortune be with you. May your guiding light be strong.
Build a stairway to heaven with a prince or a vagabond.
And may you never love in vain,
And in my heart you will remain
Forever young (forever young),
Forever young (forever young).

And when you finally fly away, I'll be hoping that I served you well.
For all the wisdom of a lifetime, no one can ever tell.
But whatever road you choose,
I'm right behind you, win or lose,
Forever young (forever young),
Forever young (forever young).

[Recorded by Rod Stewart on "Out of Order", 1988, and, in a different arrangement, on "If We Fall in Love Tonight", 1996.]