The looming retirement of 76 million Baby Boomers born between 1946-1964 poses serious financial challenges for the United States. As this huge generation retires, there is no money to pay for their retirement benefits due to a lack of planning and savings. As more Boomers retire and strain social security and pension systems, the government may have to take on even more debt by borrowing or printing money, devaluing the currency and potentially bankrupting the nation. Difficult choices will have to be made about supporting retirees on fixed incomes as costs of living rise.