We don't think about money very much.
As members of the Silent Generation, DW and I feel comfortable about what we have, given our age and condition. With a little more thought, we might be a model of the American Dream, as it was perceived back in the 1950's and 1960's. Wealth, per se, was not a part of that dream, rather a vision of what a good life could be.
It was a time when family was the basis for happiness. Children (we had four), a stay at home mom. Neighborhoods that were blended, and a community spirit, with Boy Scouts, church, school and the extended family at the core of our lives. Not every family had a car, or even a telephone, but class and wealth didn't seem to matter.
So, as to adequacy of retirement income? Not much of a concern. When television came in, we had our first exposure to the larger world, but even then, there was very little exposure to the American Dream that had to do with having money. The "ideal" family was not predicated on material things. There was almost no exposure to class differences, and certainly nothing that dwelt on money. Poverty, or "just getting by" was never a subject.
Old folks homes were there, but usually a farm, not a nursing home. Yes older people died earlier, but for those who didn't, there was always a grandma's or grandpa's room in the family home.
The comforting thoughts about old age, came from the promise of Social Security, so thoughts of amassing funds for the retirement years, was far from the thinking of the day.
Just my perspective, but living in retirement communities with people of my own age, makes me believe that most of my friends feel the same way. There are those with multiples of my own resources, and those with less, but most of us having lived in the golden years, see the world through the same glasses, and there have never been any discussions about income adequacy. Yes, a few have moved back to live with family, and a few have moved to less expensive communities, but most, are living the American Dream, as it was seen in those earlier days.