05/15/2013 01:38 pm ET

The Baby Boomer Retirement Crunch Begins


The oldest baby boomers have already turned 65, and the older population of the U.S. is beginning to swell. The age-65-and-older population grew 18 percent between 2000 and 2011 to 41.4 million senior citizens, according to a recent Administration on Aging report. And these numbers are expected to further balloon over the coming decade as baby boomers continue to reach traditional retirement age. Here's what retirement looks like for the typical person age 65 or older in the U.S.:

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