The Boomers Hit 62

Yes, they'll drain Social Security by 2041. But the money problems will begin long before then

Alex Wong / Getty

Yes, they'll drain Social Security by 2041. But the money problems will begin long before then

They're turning 62 this month, the first of the baby boomers are. Adorable, aren't they, as they hum along to the Beach Boys on their iPods and dream of Davy Crockett coonskin caps? In February the 100,000 or so of these January 1946 babies who opted for early retirement will get their first Social Security checks (averaging between $900 and $1,000 a month), marking the beginning of a demographic wave that will boost the program's rolls from 50 million to 80 million over the next two decades. Not so adorable, eh?

You've heard about the pending retirement of the boomers before,...

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