A new AARP survey shows that 70 percent of working Long Island baby boomers are making plans to leave Long Island once they reach retirement.

The survey shows that residents over the age of 50 are worried about the cost of property taxes and utilities.

AARP leaders and elected officials at Molloy College in East Farmingdale Monday discussed how the exodus of baby boomers would affect the economy of New York.

Will Stoner, the associate state director of AARP for Long Island, says baby boomers have an economic value of $31.8 billion for Long Island.

"If they are able to retire, they are going to leave New York state, they are going to take that economic engine with them," he said.

With Election Day closing in, the cost of living issue could have an effect on who wins seats. Numbers show the 50+ age bracket accounted for more than half the votes cast on Long Island during the last gubernatorial election.