Saving Too Much For Retirement?

According to a "loose confederation of well-regarded economists", we generally have enough wealth to handle retirement.  Maybe even saving too much.  They go on to say:

A study last October by another group of economists, including two working for the Federal Reserve Board, found 88 percent of retirees  age 51 and older had adequate wealth.

My own gut feeling, based on folks I've spoken with, is contrary to what these economists believe.  Most of the folks I know are in the same boat that Fidelity has stated: "Fidelity, the nation’s largest provider of workplace retirement savings plans, says the average 401(k) account balance is only $62,000."

But then again, maybe the democrats are wrong (again).  Maybe we're a whole lot better off and wealthier than they think.

(HT: Outside the Beltway)

-Colonel Steve