Baby boomers, the ubiquitous post-World War II generation that until recently formed the largest age and cultural cohort in U.S. history, are on the verge of retirement. That cultural shift will present monumental challenges for the American private and public-sector financial system, including credit unions.

Experts predict as many as 8,000 boomers will turn 65 each and every day for the next two decades. Just like every other crossroads the generation has faced, most of them are not willing to follow the norm and acknowledge that they've gotten older.

In fact, only one-quarter of boomers plan to sit back in the rocker and watch the world go by. The vast majority are primed for Chapter Two in lives and careers that they're quite sure they're not over just yet, which makes retirement economics both dynamic and difficult.