The concept of retirement is relatively new.
In your great-grandparents time, only those who had accumulated great wealth could afford to stop working as they aged. Everyone else worked until they were no longer physically able to.
Germany was the first country to enact a Social Security type of system in 1889. Like modern Social Security, contributions were taken from both employees and employers, with payments guaranteed by the government.
Unfortunately, Social Security systems have a funda...
Published on July 10, 2018 21:01