No doubt there is a "financial literacy" problem and sometimes the right choice for a person isn't the best option but rather the best option for their discipline, resources and skill level.

I am able to live within my means, save for a rainy day, use tax favored investment vehicles (401k, 529, IRA, etc.) and non tax favored investments.

For me, insurance and investments are 2 different things and the insurance that makes sense for me is term life for a certain portion of my life (kids at home, wife and outstanding mortgage, etc).

I don't agree that "buy term and invest the difference" is the worst advice as a blanket statement but it is only good advice for a limited audience.

Rob Yaggie