Lessons on retirement saving, from the old days
No question that nearly all American seniors will, or do, rely in some way on Social Security, whether as a retiree, a spouse or a survivor. But “back in the old days,” before there was a Social Security program, how did older folks survive once they stopped working? Well, by saving for the future (though that took on different characteristics in those days), by relying some on family, and even by employer pensions which, though something of a rarity these days, were once an important source of elderly income. In this article by Motley Fool’s Maurie Backman, the author describes how seniors sustained themselves in retirement before Social Security existed, and how many of those old principles still apply today. Click here to read more.