The problem is obviously struggling social security systems. In US it's worse because the corporations are taking bigger and bigger part of the profits while wages stagnated decades ago so people are not able to save for retirement and social security is not enough. In Europe retirement gets delayed but couple of years because people live longer and there are EU wide rules as to how much countries can spend on it. They could be rising taxes on the wealthiest people instead but those are the people that actually have power so... Still, in most of the EU you will still be able to retire. Social security is mostly well funded and stable. Here's some data:

source: https://www.robert-schuman.eu/en/retraite

So for example in Spain current estimates are that I will get 77% of my last salary when I retire. In most countries it's closer to 50%. So assuming you will own your home/apartment and you don't have to pay rent you should be fine but in some countries people may need some extra savings.