So, in your comments to my previous answer you added a different specification; summing it up here.
Note that I assume that you'll take the cutoff frequency you specify as the sample rate coming out of your decimating filter.
Now, we first need to think about attenuation:
with -40dB you probably meant that "the total power of all the noise that gets aliased back into my passband should be attenuated by 40 dB". Now, let's act if that noise had a constant PSD, so in every frequency band there was an equal amount of noise. We're decimating by $d$ to a bandwidth $f_2$. That means that there are $d-1\approx d$ noise-containing bandwidths, each $f_2$ wide, that get aliased onto your passband. Hence, your stopband attenuation should be $d\left[\text{dB}\right]+ 40\text{ dB}$.
>
$$
\begin{align*}
f_s &= 6.4 \cdot 10^4 \text{ Hz}\\[1.2em]
f_1 &= 5 \cdot 10^{-2} \text{ Hz}\\
f_2 &= 1 \text{ Hz}\\[1.2em]
\Delta f &= f_2 - f_1\\
&= 9.5 \cdot 10^{-1} \text{ Hz}\\[1.2em]
d &= \frac{f_s}{f_2}\\
&= 6.4\cdot10^4\\[1.2em]
\delta_1 &= -40\text{ dB}\\
&= 10^{-4}\\
\delta_2 &= \delta_1\cdot d\\
&= 10^{-4}\cdot \frac{1}{6.4\cdot10^4}\\
&= 1.563\cdot 10^-9\\
&\approx -88dB\\[1.2em]
\frac{f_s}{\Delta f} &=\frac{6.4}{9.5}\,10^5\\
&\approx 6.737\cdot 10^4
\end{align*}
$$
> Working on an ARM-Cortex M4F
Notice that this kind of interpreting your attenuation requirements makes the attenuation even stronger than before.
FIR
Minimal phase equiripple filter
$$
\begin{align*}
N_e' &\approx \frac 16 \log_{10}\left(\frac{1}{10\delta_1\delta_2^2}\right)\frac{f_s}{\Delta f}\\
&\approx \frac 16 \log_{10}\left(\frac{1}{10\cdot10^{-4}(1.563\cdot10^{-9})^2}\right)\cdot6.737\cdot10^4\\
&\approx \frac 16 \log_{10}\left(\frac{1}{2.441\cdot10^{-21}}\right)\cdot6.737\cdot10^4\\
&\approx \frac 16 20.61 \cdot6.737\cdot10^4\\
&\approx 2.314\cdot10^8
\end{align*}$$
So, no, not much luck reducing the filter length by increasing transition width whilst also increasing attenuation demands.
Considering a polyphase implementation, where only $\frac 1d$ coefficients would be used per input sample, $d$ being the decimation:
$$\begin{align*}
N_{e,PP}' &= \frac{N_e'}{d}\\
&\approx 3617
\end{align*}
$$
3617 Floating-Point Multiply-Accumulates at the sampling rate, which happens to be $\frac1d\text{ Hz}$ means your CPU would need to do 231.4 MFlop/s (a floating point operation being an Multiplication and Accumulation combined); that's certainly in the possible range for Desktop CPUs, but definitely impossible with the Cortex M4 – you'd have to store all the coefficients (minimal phase FIR isn't symmetrical¹), and at a 32bit floating point precision, that'll be more than 882 MB of coefficient storage; your device probably won't have more than 256kB of space for that.
**IIR**
Now, in my last answer I used $\frac {f_1}{f_s}$ with $f_1 =4.99\text{ Hz}$; this time $f_1 = 0.05$. In this situation, Bellanger's approximation formula must fall flat.
However, let's just take the same 64 coefficient IIR, as the FIR hasn't changed length that much.
¹ by the way, often you'd go for "the best FIR I can do with this architecture" on a general purpose, e.g. PC, CPU. In that case, a good rule of thumb is to go for a linear phase filter with a little less than twice as many coefficients as fit into a CPU cache line. Linear filters are symmetrical, so you can fit your whole filter into CPU cache at once, and fetching a value from RAM rather than cache typically takes
$approx 100$ times the amount of time you'd spent calculating one multiply-accumulate (at least for naively programmed x86s; using hand-optimized SIMD, e.g. SSE4, you can typically increase multiplication speed, also).