Baby Boomers in Retirement Form

Instructions and help about Baby Boomers In Retirement

>> WHAT IS WRONG WITH THE TWO OF YOU? >> YOU EVER FEEL LIKE THAT? THAT SCENE FROM THE HOUSE, GUESS WHAT, YOU ARE NOT ALONE. >> RETIREMENT SAVINGS CAN BE DAUNTING. BUT FOR MILLIONS OF AMERICANS, IT IS MORE IMPORTANT THAN EVER. THE REASON? A SILVER TSUNAMI WITH A RECORD NUMBER OF PEOPLE TURNING 65 THIS YEAR. >> HERE TO BREAK IT DOWN IS CHRISTINE ROMANS. >> THAT MAKES IT SOUND REALLY SEXY, DOESN'T IT? OKAY. 65, THOUGH. BUT ISN'T THAT REALLY THE RETIREMENT AGE? >> THE RETIREMENT AGE IS MOVING UP AND UP. THIS IS NOT YOUR GRANDFATHER'S GOLD WATCH RETIREMENT PARTY. WE'RE LIVING MORE HEALTHY, RIGHT? WE ARE LIVING LONGER. SO YOU SHOULDN'T COUNT ON SOCIAL SECURITY TO BE THE THING WHEN YOU TURN 65 TO SUPPORT YOU BECAUSE YOU WANT TO WAIT AS LONG AS POSSIBLE TO GET THAT. MAYBE 70. IF YOU WAIT UNTIL YOU'RE 70 TO COLLECT SOCIAL SECURITY, YOU'LL GET THE BIGGEST CHECK. YOU CAN START COLLECTING AT 62, BUT WE WILL GIVE YOU UNTIL 70. AND THEN, OF COURSE, SOCIAL SECURITY ALONE IS NOT GOING TO SUPPORT YOU I