First Boomer, First Check

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»

Ex-teacher, approaching 62nd birthday, files online

(NEWSER) - The baby boom elephant moved a little further along the demographic boa constrictor today when the first boomer applied for Social Security benefits. Kathleen Casey-Kirschling, born at 12:00:01 a.m. on January 1, 1946, is a retired teacher and, a balanced-budget activist tells Bloomberg, "the first drop of rain in the flood." 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.

Lack of increase sets Dems up for more punishment at ballot box

(NEWSER) - It looks like there will be no increase in Social Security benefits for the second year in a row. The bureau plans to announce this week that inflation hasn't been high enough this year to merit a cost-of-living increase. America's 58 million Social Security recipients haven't had a raise since January 2009, and analysts believe the lack of a 2011 increase will deal yet another blow to the Democrats' electoral hopes. More»

American people need to know 'we're broke'

(NEWSER) - House Republican leader John Boehner thinks the retirement age should be raised to 70 for those who still have at least 20 years to go in the work force. "We need to look at the American people and explain to them that we're broke," he tells the Pittsburgh Tribune-Review in a wide-ranging interview. He also thinks President Obama has alienated so many people that Republicans will win big in November. More»