For generations now, Americans have been deciding one by one about when to take Social Security. The sun has kept coming up, no matter their decisons.
So why all the fuss now about the Boomers and their Social Security choices?
First of all, with this huge and hugely educated and wealthy (in relative terms) Boomer generation, everything has been scrutinized. Because the generation's choices have had unusually powerful effects in moving markets and lots more.
Second, though Fran Hawthorne points out in her Act Two story that the Social Security system has already factored in the Baby Boomers' impact, the precise movements en masse of the generation will undoubtedly have effect on the politics of how and when the financing mechanisms for the benefits plan are adjusted.
So get ready for a lot more Boomer-examination on this subject.
--Noel Rubinton
Comments (1)
The full retirement age is based on maintaining a 50% death rate, so the government does not have to pay any paid for benefits but to half of the investors. The government gets 15% of all wages (up to $102,000) in America and is so incompetent as an investment manager, if we could we would have fired them, they do not invest our money and grow the funds. The problem with Social Security is totally caused by government. No, matter your political party affiliation, and setting aside your thoughts on issues. We all need to remember what it is to be an American Citizen. We need to make sure our elected representatives obey their Oath of Office and keep their Oath of Allegiance.