“Retirement at sixty-five is ridiculous. When I was sixty-five I still had pimples.” - George Burns
The First Baby Boomer
Kathleen Casey-Kirschling was born one second after midnight on January 1, 1946. As such, this retired Maryland teacher has the honor of being our nation’s first symbolic baby boomer. According to a US News and World Report article from January, 2008, Casey-Kirschling was also one of the first boomers to apply for Social Security benefits upon turning 62.
She wasn’t alone! Almost a third of the 2.9 million boomers born in 1946 applied for early benefits in 2008, causing Social Security Commissioner Michael Astrue to dub it America’s “silver tsunami”.
And yet 38% of respondents to a Nationwide Financial Retirement Institute survey owned up to regretting their decision and wishing they had waited until they reached the full retirement age of 66. Why all the remorse? Continue reading