First Boomer Applies for Social Security

Watershed moment as first Baby Boomer starts collecting Social Security

(NEWSER) - The first Baby Boomer will collect her—and her generation's—first Social Security check next month, and she can expect a lot of attention, reports AARP The Magazine. Kathleen Casey-Kirschling was born at 12:00:01 on January 1, 1946, and her big move spotlights the way her generation will both redefine retirement and squeeze Social Security to the limit. More»

Bucking poll, older workers ditch work in tough economy

(NEWSER) - A growing number of older US workers are bucking expectations and retiring early, risking financial hardship in their senior years, the Los Angeles Times reports. Instead of staving off retirement to rebuild diminished nest eggs, many older Americans, frustrated by the job market, are simply calling it quits. Add aging Baby Boomers to the mix, and Social Security claims are up 25% over last year. More»

Disease can lurk in the body for decades

(NEWSER) - An epidemic of hepatitis C is afflicting the baby boomer generation, and federal authorities will roll out a campaign this year urging everyone born between 1945 and 1965 to get tested, reports the Los Angeles Times . Roughly 75% of the estimated 3.2 million people infected are boomers, many of whom picked it up decades earlier using drugs in the pre-AIDS era. What's more, the disease can remain in the body undetected for years before taking a toll on the liver. More»

Funds that feed it to run dry 3 years earlier, in 2033

(NEWSER) - If your outlook on Social Security is a dismal one, the government's latest revelation will only add to your gloom: The trust funds that feed Social Security will be exhausted in 2033, a full three years earlier than the last government estimate. Medicare is still set to die in 2024, thanks to a 2% cut helped that program's fund hold steady, reports the AP . If the funds run dry, payroll taxes will only foot part of the bill: about 75% of Social Security benefits and 87% of Medicare costs. More»

Retire cheaply and luxuriously in a new country

(NEWSER) - Who says you have to spend your golden years in the US? Stretch every retirement dollar you've saved by heading overseas. Here are the seven best reasons, courtesy of US News:

• Live on the cheap: Get the most out of your retirement dollars by shipping out to inexpensive destinations such as Ecuador, Nicaragua, and Panama, and enjoy a comfortable lifestyle for $1,000 per month or less.