Certified-planning-engineer.jpg' alt='Workplace Wellness Programs Statistics For Dummies' title='Workplace Wellness Programs Statistics For Dummies' />Statistics About The Coming Retirement Crisis That Will Drop Your Jaw The American Dream. Do you hear that rumble in the distance  That is the Baby Boomers they are getting ready to retire. On January 1st, 2. Workplace Wellness Programs Statistics For Dummies' title='Workplace Wellness Programs Statistics For Dummies' />We provide excellent essay writing service 247. Enjoy proficient essay writing and custom writing services provided by professional academic writers. Baby Boomers turn 6. Millions upon millions of them are rushing towards retirement age and they have been promised that the rest of us are going to take care of them. Only there is a huge problem. We dont have the money. It simply isnt there. But the millions of Baby Boomers getting ready to retire are counting on that money to be there. This all comes at a really bad time for a federal government that is already flat broke and for a national economy that is already teetering on the brink of disaster. So just who are the Baby Boomers  Well, they are the most famous generation in American history. The U. S. Census Bureau defines the Baby Boomers as those born between January 1st, 1. December 3. 1st, 1. You see, after U. S. troops returned from World War II, they quickly settled down and everyone started having lots and lots of babies. This gigantic generations has transformed America as they have passed through every stage of life. Now they are getting ready to retire. If you add 6. 5 years to January 1st, 1. January 1st, 2. 01. The moment when the first Baby Boomers reach retirement age has arrived. Health-By-The-Numbers_infographic-resized-480x340.jpg' alt='Workplace Wellness Programs Statistics For Dummies' title='Workplace Wellness Programs Statistics For Dummies' />Fat Burners Made In Usa Diet Drinks To Burn Fat Fat Burners Made In Usa Extreme Fat Burning Pills Fat Burning Aerobic Exercises. The day of reckoning that so many have talked about for so many years is here. Today, Americas elderly are living longer and the cost of health care is rising dramatically. Those two factors are going to make it incredibly expensive to take care of all of these retiring Baby Boomers. Meanwhile, the sad truth is that the vast majority of Baby Boomers have not adequately saved for retirement. For many of them, their home equity was destroyed by the recent financial crisis. For others, their 4. Keygen Obd Diag. Meanwhile, company pension plans across America are woefully underfunded. Many state and local government pension programs are absolute disasters. The federal government has already begun to pay out more in Social Security benefits than they are taking in, and the years ahead look downright apocalyptic for the Social Security program. Ems Iso 14001 Manuals on this page. If we are not careful all of these Baby Boomers are going to push us into national bankruptcy. We simply cannot afford all of the promises that we have made to them. The following are 1. Beginning January 1st, 2. Baby Boomers will reach the age of 6. That is going to keep happening every single day for the next 1. According to one recent survey, 3. Americans say that they dont contribute anything at all to retirement savings. Most Baby Boomers do not have a traditional pension plan because they have been going out of style over the past 3. Just consider the following quote from Time Magazine The traditional pension plan is disappearing. In 1. 98. 0, some 3. Today that number stands closer to 1. Employee Benefit Research Institute in Washington, D. C. 4 Over 3. 0 percent of U. S. investors currently in their sixties have more than 8. So what happens if the stock market crashes again5. Americans already over the age of 6. Social Security payments alone. According to another recent survey, 2. U. S. workers admit that they have postponed their planned retirement age at least once during the past year. Approximately 3 out of 4 Americans start claiming Social Security benefits the moment they are eligible at age 6. Most are doing this out of necessity. However, by claiming Social Security early they get locked in at a much lower amount than if they would have waited. Pension consultant Girard Miller recently told Californias Little Hoover Commission that state and local government bodies in the state of California have 3. When you break that down, it comes to 2. California. 9 According to a recent report from Stanford University, Californias three biggest pension funds are as much as 5. It has been reported that the 3. Illinois Teachers Retirement System is 6. Robert Novy Marx of the University of Chicago and Joshua D. Rauh of Northwesterns Kellogg School of Management recently calculated the combined pension liability for all 5. U. S. states.   What they found was that the 5. That is a difference of 3. So where in the world is all of that extra money going to come from  Most of the states are already completely broke and on the verge of bankruptcy. According to the Congressional Budget Office, the Social Security system will pay out more in benefits than it receives in payroll taxes in 2. That was not supposed to happen until at least 2. Sadly, in the years ahead these Social Security deficits are scheduled to become absolutely horrific as hordes of Baby Boomers start to retire. In 1. 95. 0, each retirees Social Security benefit was paid for by 1. U. S.  workers.   In 2. Social Security benefit is paid for by approximately 3. U. S. workers.   By 2. U. S. workers for each retiree. How in the world can the system possibly continue to function properly with numbers like that1. According to a recent U. S. government report, soaring interest costs on the U. S. national debt plus rapidly escalating spending on entitlement programs such as Social Security and Medicare will absorb approximately 9. That is before a single dollar is spent on anything else. After analyzing Congressional Budget Office data, Boston University economics professor Laurence J. Kotlikoff concluded that the U. S. government is facing a fiscal gap of 2. A big chunk of that is made up of future obligations to Social Security and Medicare recipients. According to a recent AARP survey of Baby Boomers, 4. Companies all over America have been dropping their pension plans in anticipation of the time when the Baby Boomers would retire. Baby Boomers. State and local governments are scrambling to find ways to pay out all the benefits that they have been promising. Many state and local governments will be forced into some very hard choices by the hordes of Baby Boomers that will now be retiring. Of course whenever a big financial crisis comes along these days everyone looks to the federal government to fix the problem. But the truth is that after fixing crisis after crisis the federal government is flat broke. At our current pace, the Congressional Budget Office is projecting that U. S. government public debt will hit 7. GDP by the year 2. But our politicians just keep spending money. In order to pay the Baby Boomers what they are owed the federal government may indeed go into even more debt and have the Federal Reserve print up a bunch more money. So in the end, Baby Boomers may get most of what they are owed. Of course it may be with radically devalued dollars. Already we are watching those on fixed incomes being devastated by the rising cost of food, gas, heat and health care. What is going to happen one day when prices have risen so much that the checks that our seniors are getting are not enough to heat their homes What are we going to do when those on fixed incomes are buying dog food because it is all that they can afford We are rapidly reaching a tipping point. As the first Baby Boomers retire the system is going to do okay. But as millions start pouring into the system the truth is that it is going to start breaking down. No, there is not much that we can do about it now. We should have been planning for all of this all along. Americans should have been saving for retirement and governments should have been setting money aside. But it didnt happen. Now we pay the price.