Is retirement a real thing?

I know someone who is retired. She’s constantly worried about the solvency of her pension fund and things like COLA and a bad president creating inflation through approval of massive gov’t spending like a drunken sailor. Is this what retirement is? Having to worry all the time about the effects of living too long? What BS line they feed us all the time about taking it easy in our golden years.

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Gusman · 61-69, M

Personally I keep the majority of my money in a bank account.
At least I can not lose it when the stock market crashes.
Having pension funds linked to the market is criminal, my opinion.
As we see when the market does crash, many people lose a great deal of money.
Imagine being in your last working year, all your life you have diligently saved to have enough money to see out your life.
Then the market crashes and 50% of your retirement fund is gone.
Tragedy that should never be allowed to happen.
A failsafe could be - all retirement funds should be guaranteed five years before retirement age.
Governments can afford it, they simply do not want to do it.