While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.
Ever heard of insurance or pension? This is what senior citizens using on their daily life aside from their savings. I have a veteran grandparents that has a pension sufficient enough to support a big family since he made a lot of contributions during his active work.
In most developing nations pensions are enjoyed by only retired government workers and established organizations like multinationals. The government doesn't have pension plans or arrangements for private business owners, so they would have to make their own pension plans. Another problem most people have is illiteracy and lack of financial education. Many people don't have knowledge about insurance policies, so they wallow in ignorance.
Nevertheless, with the rate of inflation, it will be very difficult for senior citizens to survive on just pension or insurance benefits. It is better to have an investment or business to support the meager money they receive as insurance or pension benefits.