As the first Americans of the baby boom generation turn 62 and thus become eligible for early Social Security benefits, MetLife has released a report profiling these boomers, including their finances, retirement plans, and more. According to the survey report--"Boomers Ready to Launch", 31% plan to apply for Social Security when they turn 62, and 32% say they will wait until age 66 or beyond when they can receive full benefits.
In addition, 68% say they have employee or retiree health insurance. Forty-seven percent are covered by a defined benefit plan, 50% have a 401K, 50% have an IRA.
Source: MetLife Mature Market Institute News Release (December 27, 2007)
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