I tend to agree with you, though not for the reasons you state. I think most people who are young now either will not live to traditional retirement age or the world they live in will not be one in which money will be that useful. I don't care how much you have in savings, if you lose everything because your house is destroyed in a natural disaster that then leaves the area in an uninhabitable zone, you will be broke sooner or later. So spend it all. Enjoy life while you have it.

Sorry my generation couldn't wrest control from the boomers and leave you a better world.