By dictionary definition, you have to have left your position of employment and left work.
But there's still some meaning in "not being stuck at work" and being financially capable of choosing what you do with your time. We don't have a single word for this, but we have some phrases, like "financially independent." Once you've reached this point, you might choose to do something that people will pay you for, or you might not. Either way, you're not obligated or chained to employment any more.
Using the term "retired" for that status is not a huge stretch.
It used to be a much cleaner division. You got your Rolex and you moved to Florida. (OK I exaggerate.)
But for many professional people in tech, it can mean doing some consulting/teaching/writing/whatever on the side. In fact, for me, one of my questions is what are some of the specific things it makes sense for me to do when I retire that are materially different/better than what I do today?
