The First Baby Boomer Collects Social Security

The Urban Institute also projects that the baby boomers will also benefit from housing and stock market booms. Median household wealth for current retirees is nearly $450,000. Among baby boomers, it's projected to be closer to $600,000.

Social Security will be there for the boomers. But what about their kids?

"I really do have great concern for my children, but I have a greater concern for [the] grandchildren," Casey-Kirschling said.