seaweed sunrise

As a finance nerd, while traveling abroad I often think about money and the ways in which different cultures handle it. I'm generalizing obviously, but in the west, we have grown into a very individualistic society in which it's basically every man, women or household for themselves. And because there is not a lot of teamwork, even amongst family, it has forced the need for everyone to amass as much wealth as possible to pay for their needs whenever they retire. Now, I am far from a cultural expert, and would love for someone with more knowledge to weigh-in, but I sense this western approach to money far less in other societies. I imagine there is still a desire to amass wealth, as wealth creates options and freedom in any culture, but the entire format seems different. I'm not sure if this applies to all socioeconomic levels, but it seems that instead of every person or household having to amass as much money as possible to retire on, instead they share the financial burden generationally. Meaning, the parents work for as long as they can, raise their children who eventually enter the workforce - increasing the family income. Then, when the parents eventually retire, their children (now adults) continue to work and (here's the biggest difference), continue to provide for their parents. Meanwhile, the grandparents would look after their grandchildren, who eventually enter the workforce themselves and provide for the family. So on and so forth. And it seems to me that this is how humans survived our entire existence; family and teamwork. As I said, I would love for someone with more knowledge or experience to weigh-in, or correct me if I'm off on anything. 
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"In Mediterranean and Latin cultures [...] it's commonplace for multiple generations to live under one roof, sharing a home and all the duties that come with maintaining one. In the contemporary iteration of this living arrangement, the oldest generation often is relied on to assist with caring for the youngest, while the breadwinners labor outside the home. As such, the aged remain thoroughly integrated well into their last days."
-Karina Martinez-Carter