As the nation's 77 million baby boomers move into their older years, they are deeply worried about the financial pressures of retirement and health-care costs, according to a new Associated Press report. In fact, boomers are even more concerned about those issues than they are about facing a major illness like cancer.
Key findings of the poll, conducted for the Associated Press and LifeGoesStrong.com, include:
• 43 percent of boomers told pollsters they were "very" or "extremely" worried about being able to pay for future medical costs, including long-term care.
• 41 percent said they were worried about losing their financial independence.
• Only 40 percent of boomers have a will, and just over a third have a health-care proxy or living will, documents that name a spokesperson and spell out the kind of care a person will receive if he is not able to make those decisions for himself.
"These findings underscore the pressing need for baby boomers to start thinking about their future — and preparing for it," said Alyson Burns, director of AARP’s Decide. Create. Share. campaign, a project that helps educate consumers about planning for long-term care.