Do you feel more insecure about retirement than you did four years ago? Join the club.

The percentage of baby boomers who say they feel satisfied with their economic situation has plunged since 2012, CNN Money reported, citing a survey from the Insured Retirement Institute. About 43 percent of respondents say they are satisfied this year, down from 79 percent four years earlier, the report found.

The decline “suggests that many boomers have missed out on the recovery” in the stock market and home prices, CNN reports.

“Indeed, 45 percent of boomers have zero retirement savings, according to the report. And of those who have saved, only a little more than half have as much as $100,000 stashed away,” the channel reports. “All of which suggests that few boomers had significant amounts invested in stocks during a record bull market run.”

What’s even worse is that wages have flatlined while healthcare costs have jumped, making saving money for retirement an impossibility for millions of people.

A typical healthy 65-year-old couple is likely to spend $245,000 on health care in retirement, CNN reports, citing a study.

The dismal retirement picture has weighed on baby boomer sentiment as people change their plans in order to make ends meet.

CNN cites several other findings:

• Boomers saying Social Security is a major source of retirement income jumped to 59 percent from 42 percent five years ago.
• The portion of boomers who say it's important to leave money to heirs has declined to 46 percent from 63 percent five years ago.
• Twenty-four percent of boomers express confidence that they will have enough resources in retirement, versus 37 percent five years ago.
• The percentage of people planning to work until age 70 has risen to 26 percent from 17 percent.
• Twice as many now say they may have to rely on children or family to support them financially.

“The first boomers turned 70 this year,” CNN reports. “The generation still has decades ahead. But time for preparation is running out — a reality that may finally be sinking in.”

Savers aren't being helped by the record-low interest rates set by the Federal Reserve for the past eight years.

That worries  Laurence D. Fink, chairman and chief executive of asset manager BlackRock Inc.

Zero percent interest rates and negative rates are eroding investors’ returns and putting pressure on consumers to cut spending as they prepare to retire, which may prevent the growth that central banks seek, he said this week in a letter to shareholders.

“These actions are severely punishing the world’s savers and creating incentives to reach for yield, pushing investors into less liquid asset classes and increased levels of risk, with potentially dangerous financial and economic consequences,” Fink said. The risks add to “a level of fragility in the global economy that we have not seen since the lead-up to the financial crisis.”

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