Tuesday, October 16, 2007

Let the Boomer Deluge Begin

As frightening milestones go, yesterday brought a whopper. On Monday, the nation's first Baby Boomer applied for Social Security benefits. Kathleen Casey-Kirschling, a retired Maryland teacher who was born at 12:00:01 a.m. on Jan. 1, 1946, applied for early retirement benefits and will become eligible to receive benefits in January 2008 when she turns 62.

As millions of BBs (those born between 1946-1964) prepare to deluge the system and possibly, overwhelm the federal budget, I wonder what will be left for the rest of us.

Personally, I have only half-hopes that there will be anything left for my own retirement. (See above for the ClizBiz retirement plan - photo credit goes to a very clever Someone Else, not me.) As it stands now, I plan to live in my family's tiny desert home in 29 Palms and try to avoid eating cat food. Yup, it's going to be lean and mean when you throw in global warming, well, it'll be toasty as well. Good times!

7 comments:

Kath said...

HUGE believer there will be no Social Security for me when I get too crochity to keep working. Which should be sometime next week, at the rate I'm going.

Not too late to start catching up, tho.

Real estate (build yourself some equity), ROTH-IRA's, and other investment vehicles out there where you can start very small.

Personally, I can see you selling sex toys before I can see you selling GS cookies. Or maybe both?

ClizBiz said...

Ha! Door-to-door vibrators! Hmmm. My only concern with that is that I think the future has no doors. Everyone will just be online and there will be no reason to leave the house. Eventually, they'll just be phased out.

hotdrwife said...

I think you had an important post, but I just can't get past the picture ......

Maria said...

i am disappointed in the post. Where is your faith in Gins' advised 401K plan? I'd say that with her on your ass you can at the very least count on eating cans of Chef Boyardee while shriveling up under the unnaturally hot sun.

ClizBiz said...

HDW: Glad you enjoyed the photo. Wish it was mine but I've been holding on to it, waiting for the right opportunity ...

Maria: You're so right. The Gins plan does not involve cat food at all. I can certainly look forward to a higher grade of canned goods.

Susan said...

I clicked onto your blog because of your post on "When the Levees Broke." I read this post out of curiosity. As a baby boomer, I find the whole slant on this story irritating. After all, we did pay into Social Security for many many years--paid more than previous generations as the percentage went up while we were working. What the government did with the funds we paid in is another story.....

-Sue

ClizBiz said...

Sue - As a BB, I'm sure you get tired of this take. However, it's only the sheer number of you that makes ya'll scary to those behind you. I appreciate you pointing out that BB's have paid more into the system - I only fear it is being pissed away in some country outside the U.S.

Bottom line: It'd be nice if there's enough to go around but I wouldn't bet the farm on it.