The time has finally arrived for the starting of the baby boomers retirement. The first cohort of baby boomers is reaching 65 and the traditional age of retirement. Through the financial success of this generation, many have been able to take even earlier retirement with IRA's & 401K's and other savings making it needless to wait for eligibility for Social Security benefits or to depend on it as their sole retirement income.

For all those who are not as fortunate who will depend mostly on their Social Security benefits, there have been some changes. Younger baby boomers won't become eligible for Social Security at 65 but will instead need to wait an extra year or years based on when they were born delaying their baby boomers retirement. Congress is considering raising retirement age for everyone, but it's not clear if this would be applied to baby boomers.

Some societal commentators are now starting to refer to aging baby boomers as "Golden Boomers." This references both maturity as a "golden age" and the idea that some of the most successful boomers have huge retirement benefits from their organisations. This group will enter baby boomers retirement, with their income and spending abilities largely unchanged and even improved since their children are grown and no longer dependent and their homes might be paid for.

For some Golden Boomers, the gold turned to brass when dropping stock prices decimated the value of their retirement accounts. For them, retirement will mean living in significantly decreased circumstances and this will negatively impact American economy.

All baby boomers who are retiring will face the troubles common to all with aging. Although health care during their lives has considerably improved the chances for a longer and healthier life, it comes at a huge cost. Baby boomers retirement may mean very real fears about being able to afford the medical care they require for a good quality of life.

Retirement for baby boomers also means mental changes. After working for a lifetime, adapting to a life-style of leisure might be difficult and some feel they lack a sense of aim. For others, financial and physical realities might mean that they are unable to enjoy the activities they had desired when their working days were over.

Baby boomers retirement represents a big effect on America because the numbers of the generation are very large. About 77 million people make up the baby boomers and the alterations in their health and economic status will place some burdens on younger generations. However, baby boomers are on the whole well educated and resourceful. With these tools they are expected to adapt and flourish in retirement.

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