SEGMENT: REFLECTIONS, FARMING DURING GREAT DEPRESSION, & RETIREMENT

Luke Bridger>NIU Collection>NIU Collection, Segment 5

SEGMENT: REFLECTIONS, FARMING DURING GREAT DEPRESSION, & RETIREMENT,

duration 03:45
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REFLECTIONS
Farmers not included in Social Security. 1930's took out $2000 insurance policy for retirement at age of 21. Hard to save and hard to pay off notes for farm. Did not think to much about retirement.
HEALTH
No health insurance for years. Took chances on health. Paid hospital $35 for first child to be delivered, but had hard time getting $35. Luke's son's first son cost $3500.
FAMILY FINANCES
Started investing mainly in land for retirement. Couldn't invest in land like that today.
FARMING DURING GREAT DEPRESSION
Farmers before Great Depression were also investing in land for retirement. Father bought land for $350/acre but value fell to $60/acre & he lost everything. Got back into farming but needed someone to back you.
CHANGES IN FARMING METHODS
Very little change from 1960-1975.