How do I keep catching up on retirement savings later in life from crowding out my other financial goals?

When the options are compared, the most useful comparison is not with other people, but with the savings rate and retirement income needed for the household's own goals. When the household's goals are considered, increasing savings gradually, using tax advantaged accounts appropriately, controlling investment costs, and aligning the portfolio with the actual retirement date can materially improve the outcome. Within the broader financial plan, put the decision into a written plan that shows how it affects retirement, taxes, emergency reserves, and other family goals.