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To: maceng2 who wrote (152801)	2/22/2002 5:00:46 AM
From: maceng2	Respond to of 436258

Aging Baby Boomers in Denial Millions of Baby Boomers Unprepared and in Denial of Their Long Term Care Needs February 2002 (Newstream) -- Seventy-seven million baby boomers are heading towards retirement, but most are woefully unprepared and in denial of their long term care needs. Experts fear this lack of planning will produce a serious quality of life and financial crisis from which they and their families may not recover. Walter Ocner reports. SCRIPT: Most baby boomers expect to live an active life well into their 80s and 90s. But are aging boomers ready for retirement that could last as many years as their working life? According to a recent study by the GE Center for Financial Learning, 71% of boomers worry about their ability to fund retirement. And, faced with a long term care crisis, 85% say they want choice and control over how they are cared for. Yet, amazingly, only 7% have an adequate plan to address these needs. Dr. Christopher Hayes, for the Center of Aging Research and Education. CUT: (HAYES) One of the things that will happen with middle income investors is estates will get wiped out by medical costs without the benefit of long-term care insurance or some way of protecting their estates from catastrophic healthcare. SCRIPT: Planning ahead is key to getting a hold of long term care issues. Boomers can look to the Internet as a resource to explore their options. Look for objective sites, like financiallearning.com which offer education and online tools instead of selling products. I'm Walter Ocner. Suggested Anchor close: For more information about long term planning for yourself or your parents, the GE Center for Financial Learning can help... financiallearning.com newstream.com