Retiring times

The first American Baby Boomer has applied for Social Security. According to an AP story, Kathleen Casey-Kirschling is the “first baby boomer” because she was born one second after midnight on January 1, 1946. She will become eligible for the Social Security retirement benefit when she turns 62 next year.

There were 80 million Americans born between 1946 and 1964, during the so-called “Baby Boom”. It's estimated that 10,000 people per day will become eligible for the Social Security benefit over the next twenty years.

Because of this huge “demographic bulge”, and the fewer number of workers in later generations, America's Social Security Trust Fund is projected to be broke by the time GenX is retiring. Here in New Zealand, the current Labour Government set up a fund to save up for this time to ensure that every New Zealander receives the retirement benefit, and without reduced amounts paid. People are also being urged to save for their own retirement to supplement the bare-bones state benefit, and the Government has introduced Kiwisaver to help encourage them to do so.

As far back as high school, I was convinced that there'd be no Social Security benefit when I reached retirement age. If things don't change, when I reach that age I'll be elegible for the New Zealand retirement benefit. Because of a treaty between NZ and the US, anything I receive from Social Security will be deducted from my NZ Superannuation. We'll see.

Meanwhile, lesbians in New Zealand are holding meetings to discuss the establishment of “Elders Villages”—essentially retirement centres for lesbians. Retirement living for GLBT seniors is just starting to get media attention, but we'll hear much more about it with growing numbers of GLBT seniors.