10.5 million wealthy baby boomers, comprising 45 percent of all affluent households, are barging headlong into retirement—with absolutely no financial plan in place.

The breaking story in today's Insurance NewsNet (INN), underscores the need for financial planning to guarantee a secure future in one's later years.

Citing a recent study by Phoenix Affluent Marketing Service, INN reports that 36 percent of older boomers and 49 percent of younger boomers are financially unprepared for retirement.

Those are pretty scary statistics, considering these numbers take into account only more fortunate boomers! What might that say about the less fortunate?

This is an interesting read. Check it out here.