Retirement is when someone loses their productive time and their influence in social roles.
Lose twice if the assumption is not being able to invest something as added value for retirement.
Thankfully, my society still gives trust, influence, or "position" to a retiree as an advisor and guide to young people. value-added experience, I mean.
The compensation is social security, so that someone who retires still gets certainty over their rights, one of which is the guarantee of basic needs.
But for retirees who have investments in productive businesses, they are still productive even though they have retired. It will be better for both their position and influence in the community.
There's really no retirement, ideally.
There should be more of this around the world. It would make it a better place and start to build communities again.