Exploring the Historical Journey of Retirement, Medicare, and Social Security
Journeying through the annals of history, we uncover the intricate layers that make up retirement, Medicare, and Social Security—the three pillars that have fortified the American social safety net . This historical expedition reveals how these programs have evolved over time, mirroring the changing landscape of retirement in the United States. The Origins of Retirement: A Glimpse into the Past To fully comprehend the significance of these programs, we must first peer into the past, when retirement was an uncommon concept. In the pre-20th century era, individuals typically toiled until physical limitations prevented them from working, and there were no formal mechanisms in place to support the elderly. The advent of the industrial revolution, however, heralded a new era necessitating a reimagining of the social fabric. The idea of retirement began to take root in the early 20th century. A significant milestone arrived in 1935 with the passage of the Social Security Act, a linchpi...
