Holly,

5 is ok for starting to lose teeth.  My kids are not old enough yet, but on the professional front (Pediatric RN) it’s fine.  A lot of times it has to do with when they get their teeth.  If your child does not get any teeth until say 12 months like my oldest, you don’t expect them to start losing their teeth until later than all the other kids..if they started getting teeth at 5 months, then they will be the first to start losing.

Hope this helps & may the tooth fairy have a blast at your house

Jess