NEW YORK-Millions of Baby Boomers in their 50s are woefully unprepared for retirement, but it's not too late to convince them to start planning.

"Boomers need to manage their savings to create a dependable income stream," said Lynn Ford, senior vice president and managing director of the retail retirement group at Wachovia. "They will need a lot of advice from the financial services industry. We need to be better prepared to offer advice about the products we deliver."

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