You think "most people" save at least $75k a year?
I think it's safe to assume that people close to retirement have existing appreciating assets contributing to that total savings amount.
So low supply is good for the economy because it keeps people working.
Quite the opposite: retirees will flee to low cost of living areas, taking the money that they spend in other sectors (food, health, entertainment, etc.) elsewhere.
Who is saving > $50K/year (to make up that $600K)? Must be people who are already very well off.