Yes, that is true. I can attest to that because of my mother-in-law who is 92 and lives and maintains her own home. She has many extra hobbies included in her life.
I was mainly addressing the elderly who have not aged so well, even though their mind is still sharp their body cannot do the things they use to.
I have a 68 yr old dear friend who is in a nursing home. Why? Her sons do not want to take care of her. She is sometimes forgetful and does not have bodily functions. So they think they did they right thing by putting her there. It breaks my heart that they did this because they do not want to take the responsibility of having her live with them.