I don't believe this. This was the rhetoric 30 or 40 years ago. In the UK, research shows that the happiest and most active people are retired people.

https://www.theguardian.com/society/2019/may/15/smelling-the-roses-uks-retirees-most-satisfied-with-life-shows-study

https://www.bbc.com/news/uk-35471624