First Baby Boomer Applies for Social Security

According to the Associated Press, the first of 80 million baby boomers, born between 1946 and 1964, applied for social security on October 15th, 2007. The first baby boomer was a retired school teacher from New Jersey who will be eligible for Social Security benefits when she turns 62 next year.

Referred to by some as America's silver tsunami, baby boomers' presence will definitely be felt as they start to enter retirement in large numbers over the next decade. The large influx of retirees will no doubt strain the resources of Social Security and Medicare, but will also wield an unprecedented amount of political clout given their numbers.