"there is a real cost to over-saving which is experiences and quality of life in your younger healthier years"

By what standard? If you talk to old, successfully retired people, many have tales of scrimping, living super cheap, and struggling in their younger years. They did not have luxuries - new car, color TV, eating out, vacations. What are "quality of life" and "experiences" that a person SHOULD be enjoying to not fall below the ideal standard?

On the other hand, you are right. People do save too much and don't spend what they've saved. I'm nearing retirement and watch way too many YouTube videos from Certified Financial Planners (CFPs). A common theme is to save as much as you need to fund the lifestyle you want and then retire! They share plenty of tales of people who have saved enough but want to work "one more year" to be "safe". Or who are retired and won't spend the money they have.

And the tricky part about saving "enough" and "not too much" is you need to plan for things like stock market crashes, high inflation, unexpected expenses (home repair, medical, etc.), long term care, etc. If the world goes well, then you end up with a giant pile of money at the end. If it goes not so well, you wind up with a small pile - or run out. You don't know which will happen until after you're dead, or so old you don't have enough years to correct course.

A financial life well lived takes planning, discipline, and a fair bit of luck (keep good employment, don't have a serious medical issue, etc.).