When I start to upgrade iOS on my iPhone I get this scary message?

I started to upgrade iOS on my iPhone and a window opens that says (caps are mine):

"Updating to iOS 5.1.1 will delete all of the apps and media, including iTunes Store purchases, on you iPhone. To preserve your content, apply this update ON THE COMPUTER WHERE YOU SYNC apps, music, videos, and photos.

"Updating on THIS computer will ONLY preserve contacts, calendars, and other settings."

This seems to say that the computer my phone is connected to is NOT "the computer where you sync… " and therefore the ONLY things that will be preserved will be "contacts, calendars, and other settings, and will result in the loss of "apps and media".

(Just before starting to update, I had sync'ed on the computer the phone is connected to, and yet I still get this message that seems to warn against proceding with an update on THIS computer.)

I don't feel safe trying to update. I used to have iTunes on another computer that I no longer have. Is there any way out of this situation?

Put everything on the Cloud. Then you will have a backup for sure.

I hate updating my phone. I always have my son do it.