The stats have arrived- survey results from insurers and researchers have one thing in common: Baby boomers are not prepared for retirement, and therefore insurers could be missing out on business. Some companies are stepping up, using technology to capture this pending market.Allstate's 2006 Retirement Reality Check survey reveals that 40% of Americans admit they are not saving seriously for retirement. One unexpected finding, according to the survey, is that Generation X respondents (those born from 1965 to 1978) are more likely than their elders to describe themselves as financially independent-73% of gen-Xers compared with 67% of baby boomers.

Even affluent baby boomers need help. Almost half of affluent (minimum of $250,000 in investable assets and/or $150,000 household income) baby boomers have never discussed their needs for retirement with a financial adviser, according to results from a survey conducted by the Phoenix Affluent Marketing Service (AMS). Thirty-six percent of older baby boomers, age 50-59, with an average net worth (not including primary residence) of $1.7 million, plan to retire in the next 6-10 years and 28% plan to retire in less than five years. Of those planning to retire, 62% do not have a written financial plan for retirement, and 27% have never met with a financial adviser to discuss their needs for retirement.

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