Most People Can't Afford to Invest in Stocks??

I've been absentee but had to stop and quickly put up a link to an article interviewing economist Zvi Bodie, who says that people who need the arguably or historical higher return of stocks probably can't afford to take on the associated risk of stocks:

"You can't handle the truth about stocks" on CNNMoney

Brodie more or less says that most people are better off saving a higher percentage of their salary, investing 100% in Treasury Inflation-Protected Securities (TIPS), and retiring later -- even if they have a long time horizon until retirement. In other words, he turns what most pundits on financial planning and what many, many of us are doing on its head.

Read the article, and then come back here to comment on what you think of Brodie's advice!