A study conducted by the Insured Retirement Institute found only 37 percent of baby boomers think they are doing a good job at preparing for their retirements, marking a seven percentage point decline in this figure since the institute started this survey in 2011.

According to the survey, 41 percent of boomers felt “extremely confident” or “very confident” about their ability to afford retirement in 2012 and 44 percent of boomers felt this way about their retirement plans in 2011.

The institute’s survey also found:

• 75 percent of boomers are worried they may not have enough money to pay their parents’ long-term care expenses, such as nursing or assisted-living care;

• 69 percent of boomers are worried they may not have enough money to pay their children’s education;

* 39 percent of boomers expect their 401(k) plans or individual retirement accounts to be a major source of retirement income;

• 24 percent of boomers have problems paying their mortgage or rent;

• 22 percent of boomers have stopped contributing to their retirement savings accounts;

• 21 percent of boomers have postponed their retirement plans; and,

• 18 percent of boomers plan to retire after their 70th birthdays.

— From staff reports