Wages have been flat for 50 years. Expenses, notably housing, education and health care have grown in the double digit percentages for decades. My generation is not saving because they CAN'T They are barely floating without massive debt loads. Pensions were looted and rolled into 401(k) stock market lotteries. Then we get into the horror show that is the finances of the people next in line after me. Social Security will keep the bills paid, and depending on where you live and if you pay rent, will keep the house from being repo'ed. Barely existing is not living. My parents went on trips, traveled all over, lived better than their parents after they stopped working.
I see the top 15-20% having a 'real' retirement, while the rest of people work until they drop.
In the past, NOBODY retired. Mainly due to people dropping dead at 65 (remember the retirement age of 65 was set when life expectancy was 62) and most people working on farms and living in multi-generation housing. Two generations got to retire, the rest of us can go get fucked.