Most baby boomers are going to be in for a big shock when they transition from working to retirement. They haven't planned properly for it and, as a result, many are likely to run out of money and to be living somewhere they don't want to live, until they die.

These and other grim conclusions are among the "highlights" (or lowlights) of "Retirement Care Planning: The Middle-Income Boomer Perspective," a study by Bankers Life and Casualty Company's Center for a Secure Retirement.

"Baby boomers … expect to experience retirement differently than previous generations of retirees," the study's introduction intones.

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Dan Cook

Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.