Where's the Responsibility?

I’ve heard it repeated time and time again that the Baby Boomers are heading for the proverbial fiscal train wreck because they are simply under funded, notwithstanding repeated warnings all over the landscape about the need to save money.

In fact, Sarah Ball Teslik, the chief executive officer of the CFP Board of Standards, said in a recent speech, “Psychology and economics are producing evidence that people are hard wired to consume, not save.” Moreover, she adds, “Many people say they give up planning for retirement because the amounts they are told they need are unattainable.” To put it another way, is it possible that financial planners are scaring boomers?