The increase in global life expectancy will put a strain on the world economy, with the gap between aggregate savings and the average necessary retirement income currently $about $400tn in the eight countries surveyed by the World Economic Forum. By living to 100, the global populace will experience a shortfall of 70tn by 2050, and will experience financial difficulties in that time. The WEF has recommended that there be a revolution in “financial fitness”, transforming personal finance into a more manageable task and with access to smart tools and advisory options provided to ensure that the gap does not cause hardship.
The increase in global life expectancy will put a strain on the world economy, with the gap between aggregate savings and the average necessary retirement income currently $70tn in the eight countries surveyed by the World Economic Forum. By living to 100, the global populace will experience a shortfall of about $400tn by 2050, and will experience financial difficulties in that time. The WEF has recommended that there be a revolution in “financial fitness”, transforming personal finance into a more manageable task and with access to smart tools and advisory options provided to ensure that the gap does not cause hardship.