Welcome to 'peak boomer' era: A wave of retirees is about to blow through their savings and cling to Social Security to stay afloat

Tech Insider : Economy, Economy
Older couple walking on the beach
Peak boomers are getting ready to retire.

Alistair Berg/Getty Images

Nearly half of New York City's vulnerable older adults have faced food insecurity in the last year, new study finds

Tech Insider : Economy
A Citymeals on Wheels deliver worker hands a bag of groceries to an older man standing in a hall way.
A Citymeals on Wheels worker delivers a bag of groceries to an older man inside an apartment building in New York City.

Citymeals on Wheels

The retirement Catch-22

Tech Insider : Economy
old worker worries about his job prospects
Age discrimination undermines Larry Fink's "solution" to the retirement crisis.

Getty Images; LinkedIn; Chelsea Jia Feng/BI

A boomer who lives on Social Security worries she won't get hired because she can't afford a car: 'I don't even have $1 in my wallet.'

Tech Insider : Economy, Economy, Politics
An older woman sitting on a bench, facing away from the camera
Virginia Hambrick, 66, (not pictured) and her husband live on her $1,615 monthly Social Security income. They struggle to afford basic necessities like rent, groceries, and healthcare.

blackCAT / Getty Images

I 'escaped' Texas for Tennessee. I loved the food and tech scene, but got tired of the heat and rising property taxes.

Tech Insider
Jim Ward and his wife in downtown Knoxville.
Jim Ward and his wife in Gay Street in Downtown Knoxville.

Courtesy of Jim Ward

Millennials having fewer kids could be a drag on the economy for the next decade

Tech Insider : Economy, Economy
babies swimming
Toddlers explore the water with their mothers during a swimming class for babies at Lane Cove pool February 16, 2007 in Sydney, Australia.

Getty Images/Ian Waldie

The generation that may never retire: Why some millennials are behind on savings — and how they can catch up

Tech Insider : Economy, Economy
Magician holding wand over a hat, with a calculator displaying '$1,000,000' surrounded by sparkles and coins falling

Getty Images;Alyssa Powell/BI

A few years ago, Nathaniel Hudson-Hartman, 38, calculated that he'd need about $1.5 million in savings to retire comfortably in his sixties.

I'm a boomer who's about to retire at 59. I'm nervous about retirement because I'll have less income and too much free time.

Tech Insider
a woman standing at the end of a dock, looking out
The author, not pictured, is retiring early at 59.

Alistair Berg/Getty Images

Baby boomers are approaching 'peak burden' on the economy

Tech Insider : Economy, Economy
baby boomer

REUTERS/Mike Blake

  • The baby-boomer "time bomb" is finally upon us, economists say.
  • All boomers will be at least 65 soon, the generation's point of "peak burden" on the economy.
  • Future generations can take solace in the fact that no boomer-size generations are in the making.

A time bomb has been ticking in the US.

I'm a boomer and retiring soon. I can't wait to do everything I want but don't have time for.

Tech Insider
Well dressed senior couple dating together in city centre, old town
The author is jealous of her husband who is already retired, and can't wait to travel to Italy together.

Halfpoint Images/Getty Images

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