World Economic Forum reports a major gap between people’s retirement aspirations and reality. Read on to find out why…

As per a new report, nearly half of people under 40 desire to retire before reaching 60. However, the World Economic Forum warns that this aspiration may differ greatly from the actual outcome. With this chasm between dreams and reality, is it time to question whether having a financial advisor could be the missing link in the retirement puzzle? Continuing to work for a longer duration has become a necessity for many approaching retirement age.

The report emphasises the “significant disconnect” between retirement aspirations and reality. It states that early retirement can worsen the savings gap and retirement income disparity while also negatively impacting labour participation rates on a macroeconomic scale. Several countries, including the U.K. and France, have raised their state retirement age due to concerns such as inadequate savings among retirees and the financial burden of supporting longer lifespans.

deVere Group CEO Nigel Green commented, “People need to get serious about their financial planning. We’re increasingly seeing people sleepwalking into a position where they will need to work 10, 15 or even 20 years longer than they would like because they’re not taking enough action at an early stage. Retirement at 60 can be possible, but it’s only achievable with robust financial planning and disciplined saving”.

Get in touch with your advisor to take control of your retirement aspirations.