In a recent New York Times article (Jan 27) a group of economists said many Americans are saving "too much" for retirement. 

I'm sorry but these guys must not be looking at the average savings rate (negative) in this country or looking at average 401k/403b balances ($65,000).   Lets face it- we are better at spending than savings and many of us just don't use retirement plans like 401k's and IRA accounts. 

Nevertheless, the loose confederation of well-regarded economists, who have not been working in concert, say their research points to the startling conclusion that many Americans are saving too much, not too little. Indeed, their studies of the savings and spending habits of the generation born between 1931 and 1941 revealed that at least 80 percent had accumulated more than enough wealth for retirement. While they have not studied the baby boom generation as closely, they believe that the greater wealth of that generation should also leave those retirees secure.

NY Times article Save Less And Still Retire (Jan 27) (available one week without registration)