The clarion call to adults of all ages is to 'save early, save more' -- but public policy has to play a key role as well in retirement saving. (Photo: Getty)

Based upon numerous studies and recounting of personal experiences, the question is not “Are people saving enough for retirement?” but “How little are they saving, and how big is the deficit between what is being saved and what is required to maintain a reasonable standard of living in one’s retirement years?”

Despite the market’s asset growth since the 2008 crash, studies in 2013 and 2015 by the National Institute on Retirement Security had some sobering findings regarding shortfalls in retirement savings (where “enough” savings is considered as having assets equal to 8 to 11 times annual income).

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