He is the only one who can decide that. You cannot compare a boxer to an average person because it depends on the discipline of a boxer. And as we can see, despite Donaire being old and having suffered a painful defeat at the hands of Inoue, he still wants to come back to boxing and aims to be a champion again. You can be impressed by the kind of dedication he has in his sport, so let's respect his decision and hope that he won't suffer a serious injury in case he loses a fight.
I'm impressed with his longevity and his power as a fighter, no doubt. Then again, it is in the nature of the human body to deteriorate over time. No matter your discipline is as a fighter, a warrior or whatever, time will be your strongest enemy to stay in the game. Your body is more susceptible to damage, and it takes a lot more time for it to regenerate, sometimes not.
Donaire will have the final say, but he needs to really think it through.