Number: RL33387
Title: Topics in Aging: Income of Americans Age 65 and Older, 1969 to 2004
Authors: Patrick Purcell and Debra Whitman, Domestic Social Policy Division 
Abstract: The aging of the American population and the impending retirement of the "baby boom" generation will place significant strains over the next several decades on Social Security and on retirees' own financial resources. The decline in birth rates since the 1960s and increases in life expectancy will result in fewer workers relative to the number of retirees. Consequently, Social Security benefits will have to be financed by a working population that is shrinking relative to the number of retirees and retirees will have to stretch their savings and other assets over longer periods of retirement than their parents and grandparents experienced.
Pages: 45
Date: April 20, 2006