Baby Boomers - Will They Bankrupt Social Security?

October 17th, 2007

The First Baby Boomer Files For Social Security

Can you believe it’s here? We’ve been talking about it for years and speculating on the impact it will have to our retirement and our economy. And now it seems to have crept up on us? Is this the beginning of the proverbial “run on the bank”?

What will the impact really be? Forecasts are that within 10 years Social Security will be paying-out more than is then paid-in. and in 35 years will be bankrupt! When will there be a serious attempt to make whatever changes must be made to make sure the social security stays around for all of us who have paid-in and modified to whatever must happen for future generations as well? They should not have to pay for our screw-ups!

For some interesting additional links on Baby Boomers check out the following:

What is a Baby Boomer?

US Census Bureau Baby Boomer Facts

First Baby Boomer turned 60 years old

Enough with the fun stuff! What does this mean to us here and now?

Yes we are going to see a barrage of media, articles, blogs, and more opinions than you can imagine. We will need to sift through the opinions and determine what the best personal financial moves are to secure our own retirement.

Here is a link to Brian Brady, Americas Mortgage Broker. I like his take on most mortgage issues. He keeps a pretty close watch on market indicators and conditions and presents his opinions well.

I recommend any to follow his posts. I know I will.

This entry was posted on Wednesday, October 17th, 2007 at 7:21 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Clearwater Beach Real Estate said at October 22nd, 2007 at 9:33 pm

    I hope not - my husband’s one of the first baby boomers and I’m one of the last - it’d be nice to get some of my money back :-) - Honestly we’ve always planned like it won’t be there. - Cyndee Haydon

  2. Flexible houses said at November 1st, 2007 at 5:43 am

    Pardon me, but the first link that you offered doesn’t work.((

  3. Bo Buchanan said at April 16th, 2008 at 11:29 am

    I just figure social security won’t be around for me by the time I retire. I’m not counting on it.

  4. Virginia Hepp said at April 17th, 2008 at 9:48 am

    Hopefully, I won’t have to depend on SS, but I would like to get something after paying in for almost 40 years.

  5. Real Estate Raj said at April 23rd, 2008 at 6:58 pm

    Hold on just a minute here. You’re telling my that a bunch of old people are going to start retiring and the whole world is going to blow up because of it? Phaalease.

  6. Keahi Pelayo said at May 15th, 2008 at 6:43 pm

    Thank you for taking the risk of writing on such a challenging subject.
    Aloha,
    Keahi Pelayo
    RE/MAX 808 Realty

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