Silver Tsunami is here!

This is the name being applied to the deluge of retirees from the Baby Boomer generation to which officially began filing their Social Security benefits this past week. The first woman to file was born one second after midnight on January 1, 1946. She will receive her first check in February 2008. By retiring early, at age 62, she will be receiving 75% of the full benefit to which she would have received if she had waited and filed at age 66.

Some 80 Million persons will be applying for retirement benefits over the next 20 years. Under a law that was enacted in 1983 the retirement age was raised to 67 for full benefits, with early retirement beginning at 62. This program was used to help shore up the ailing pension plan. Despite this action, as the "silver Tsunami" begins to come into their age it appears that the Social Security Administration will be bankrupt, and paying out more money that it brings in in taxes, in the year 2017. The entire fund will be fully exhausted by the year 2041.

What does this mean? This means that the average American will continue to work more for less. This means that it will be imperative to become financially independent on your own. As history shows us, inflation is a direct result of a capitalistic means of economic structure. Therefore, it is suffice to say, that unless we change our global economic system the inflation process will continue. This is soon to become a necessity to do so without the aid of a college education. As colleges continue to increase their tuition costs, as well as, cost of living increases not matching the living wage increases, it seems that more people could be squeezed out of the collegiate life.

Don't fret on this though, it is widely known that there are more self made millionaires without a college education than with. There have been more millionaires made through real estate than through any other means. With that there is comfort in knowing on average Real Estate always goes up. On a basic 7 year cycle you will beat the average of wall street through real estate. On a buy and hold basis real estate comes out on top.

Take note, that no matter what type of economic situation our country is in, somewhere, there are places where deals are being made. This is the basis of economics. As one area weakens, another strengthens. These are the basics of physics, of for every action is a reaction. As it might just be your own home as your largest personal investment educate yourself to the possibilities of the marketplace. Protecting this investment, or the numerous rental or investment properties you might own, now is always the time to study and learn.