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<blockquote data-quote="Caustic Burno" data-source="post: 1691684" data-attributes="member: 694"><p>Most jobs even off farm when SS started didn't have retirement plans. Secondly very few of that generation trusted any type financial institutions, they had seen friends, neighbors and kin loose everything to them.</p><p>After the war was over you could get a lifelong job with benefits and retirement.</p><p>Companies started getting out of the retirement business with the ERISA act of 76 I think the year is correct. Lifelong jobs with a company have slowly been disappearing as well as retirement plans for the "401" created by ERISA.</p><p>This gets back to most people can't manage money and the only thing that has stopped us from full circle is SS. You have to ask without would it what cost to feed and shelter the elderly be.</p><p>We could discuss this till the cows come home.</p><p>What it was designed for was great as a supplement income and an insurance for your wife and kids wouldn't starve in the event of your death.</p><p>Again LBJ to the rescue screwing it up.</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 1691684, member: 694"] Most jobs even off farm when SS started didn’t have retirement plans. Secondly very few of that generation trusted any type financial institutions, they had seen friends, neighbors and kin loose everything to them. After the war was over you could get a lifelong job with benefits and retirement. Companies started getting out of the retirement business with the ERISA act of 76 I think the year is correct. Lifelong jobs with a company have slowly been disappearing as well as retirement plans for the “401” created by ERISA. This gets back to most people can’t manage money and the only thing that has stopped us from full circle is SS. You have to ask without would it what cost to feed and shelter the elderly be. We could discuss this till the cows come home. What it was designed for was great as a supplement income and an insurance for your wife and kids wouldn’t starve in the event of your death. Again LBJ to the rescue screwing it up. [/QUOTE]
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