When I install freeware software, I have always saved the download file(s) rather than just allow them to run. Among other things, this makes the files available for installing on all my computers, whether or not they have Internet access.
Once in awhile, I find that I prefer an older version, so I'm happy that I've saved the older files. DoPDF7 is an example -- I think DoPDF is now up to version 10 or 12 but I still happily use version 7 because it does everything I want it to do -- and it's lighter and easier to use than version 8 or 9.
In general, though, how many old versions do I realistically need? For some programs, I probably have ten or more old versions on my "personal cloud" network storage device, and it's unlikely that I'll ever go back to the oldest versions for any reason. What's a good compromise number of old versions to retain? Three? Five?