Financial Planning- how far does it help?

The idea behind financial planing is to ensure greater wealth, financial security and attainment of financial goal in short. Of course saving for the rainy day comes in very handy, but what if the rain starts as a drizzle and continues over the course of time causing constant damage from the start. My emphasis here is particularly towards the decision by the U.S. government and the Federal Reserve to cut short term rates to encourage borrowing which has had a catastrophic impact on the savers of the country. The interest rates have been very disappointing from the point of view of the saving consumers though the decision is seen as a good one for the economy of America. Turns out not so good for Americans.
My question here is on the importance and extent of financial planning. I do understand that it's the sensible thing to do but it doesn't change the fact that many things today still are controlled by market forces or induced forces, the answers to which not any financial planning can come up with but the larger understanding of the power and sensible use of money by the Government.