This month Kathleen Casey-Kirschling, a retired Maryland teacher who was born at 12:00:01 a.m. on Jan. 1, 1946, applied for early retirement benefits. She’ll become eligible to receive them in January when she turns 62.

Kathleen is the first of an estimated 80 million baby boomer Americans who are entering retirement age. In a recent article on Bloomberg.com Bob Bixby, head of the Concord Coalition, a Washington-based advocacy group that promotes balanced federal budgets. “It’s the beginning of an era. It’s symbolic but it reminds us that we’re not doing anything to prepare for this.”

The Bloomberg.com article also points out that a “nonpartisan Congressional Budget Office said in an August report that Social Security spending is likely to grow by 50 percent over the next 40 years.”

The strain on American’s retirement programs only heightens the need for individuals and families to personally make plans for the future. Let AGIS help you plan for your future with our new Long Term Care section.

Related Resources from AGIS.com:
Retirement savings worksheet
Planning for long term care
Retirement budget worksheet

Filed under: AGIS, Baby Boomers, Long Term Care