Don’t forget your job was probably giving you heath care and a pension. And if you had a job, you could be there for 10s of years, if not your whole working life.
I said "housing and health care" in my original post, so I agree with you on that part.
In the 70's, only a large minority of Americans had a pension. There were lots of very poor old people in the US, especially before 1972 when social security got indexed to inflation.
In the 70's, only a large minority of Americans had a pension. There were lots of very poor old people in the US, especially before 1972 when social security got indexed to inflation.