The world used to work differently. It used to be that a young man or woman could sign on to a solid company and be assured of long-term employment. Along with a job that would take them to retirement age, they had defined benefit plans (pensions) that provided for the years that came after retirement age.
This model, combined with government social security programs kept the boomer generation and their parents financially secure well into old age. This worked all through the 1950’s, 60’s and even through the 70’s…Read more