That's because people born before the 90s have never heard of retirement planning....or savings....
Even if wages were only $500 a mth back then in the late 80s and early 90s,and people lived hand to mouth.....I don't believe they couldn't save even a token sum say $1 a day.......bank interests were sky high in the 80s,stocks and gold were dirt cheap,and properties dirt cheap..... unfortunately the clueless idiots did not possess the slightest clue.....that if they took a tiny percentage of their paychecks just 10 percent,no one dies from spending 10 percent less.....and put it into savings accounts and stocks and gold and property and what not.....ten twenty years later they would have a tiny fortune......
But coolies being coolies,all have bad money management and spending habits.....work their entire lives and have nothing to show for it except a stupid pigeon hole.