To define what is a baby boomer is easy...it is anyone born between 1946 to 1964.
There are 78 million Americans who fit into this category.
I am missed being an official baby boomer by two months being born in October , 1945.
So I call myself the most "senior" or experienced of the baby boomers.
The fact that so many people will be reaching normal retirement age at the same time will cause some stress to our over burdened Social Security and Medicare systems.
When Social Security started in 1936 the retirement age was 65 and life expectancy was 61... We can still retire at 65 now but our life expectancy is between 75 and 80... Something is going to have to give.
Politicians have been kicking this can down the road for a long time... When will someone have the courage to address this issue?
Folks 55 and over have nothing to worry about these changes but the retirement age is going to have to be adjusted for folks younger than 55, it is simple math.
he economic power of these 76 million is staggering in a country of 307 million people.
They (we) have been sought after by advertisers all of their (our) lives. No wonder looking at these statistics. The oldest, born in 1945 are reaching "normal" retirement age this year, being 65...if anything is normal in retirement these times.
The migration to the popular retirement states, Florida, Arizona and the Carolinas will cause a good news bad news situation in these locales...good in that they are coming with what is left of their retirement savings...bad in that they will put a strain on services in these states most of all who are facing budget cuts.
It is the imperfect storm...
Other boomers will be enticed to move overseas where a Social security check will go a long ways toward a very comfortable retirement. How does no more washing and ironing sound to the ladies?...domestic help is very cheap overseas.
Almost 500,000 Social security checks are sent out of the country already...more are sure to follow. For some this is adventurous for others it would be scary. We have been there and perhaps we can help ease your fears...if overseas retirement is an option. It certainly is not for everyone.
According to Del Webb, who should know something about retirement , 73% of all retirees will supplement their income in some manner. Only 27% will say that they will not have to work at all in retirement.
What is a baby boomer? They represent the most powerful economic group in our country and they will demand the best retirement living. Get ready for them (us) here they (we) come.