2011 to bring waves of retiring boomers

On Saturday, the first day of the New Year, America will witness a new trend - the Baby Boom generation will begin to reach it's retirement age. Over the next 19 years, approximately 10,800 U.S. citizens will turn 65 every day, according to Desert News.

The startling numbers beg the question: is the American economic and social system ready for such a shift in age? The majority of those turning 65 next year can expect to live to at least 83, and approximately one out of nine aging boomers will live to 90 years or older.

Young workers may be troubled by these figures, as it will be their dollars that will go toward supporting Social Security benefits for the elderly.

2011 to bring waves of retiring boomers Additionally, children of Baby Boomers may be concerned about their parents' health and well-being as they enter retirement living age.

"[Baby Boomers'] ultimate delivery is how we're going to transform growing old and what it means to have a long life," Matt Thornhill, president of the Boomer Project, told the news source. "Our contributions are far from over."

Many of the post-war generation will likely be moving into assisted living facilities in the coming years. According to NewsDay.com, by 2050, approximately 20 million seniors will require day-to-day assistance.


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