Investors are clear about what they want, but their decisions are not always aligned. For Fidelity International, this disconnect—which they call “the gap between aspirations and actions”—is a persistent feature of investor behavior.
According to its global survey “Be Invested 2026,” which polled 13,000 investors across 13 markets worldwide, many investors may not be taking the necessary steps to achieve their long-term financial goals.
In the view of Samantha Ricciardi, Head of Europe, Middle East, and Africa (EMEA) at Fidelity, and Damien Mooney, Head of Asia-Pacific ex-Japan, this reality manifests in several ways:
“Investors aspire to achieve high long-term returns, yet they keep a considerable percentage of their wealth in cash. They are aware of the importance of staying invested, but they continue to react to short-term market movements. Although they express confidence in their decisions, they do not always feel fully prepared to put them into practice. Even with more tools, more information, and greater access than ever, it is not always easy to stay on course toward long-term goals.”
The Root of the Gap
Both leaders warn that the implications of this gap are very real. Over time, small deviations can compound and lead to substantially different outcomes, especially concerning long-term milestones like retirement.
The Cash Drag: Globally, investors aspire to an average annual return of 7.9% over the long term, yet cash represents an average of 22% of their investment portfolios.
The Cost of Inaction: According to Fidelity’s analysis, moving out of excess cash can generate a considerable performance improvement of up to 3 annualized percentage points over a 10-year horizon.
Behavioral Hurdles: When volatility hits the markets, many investors pause or exit entirely rather than staying invested. Additionally, complexity remains a major barrier, leaving investors feeling overwhelmed and searching for clearer, trustworthy guidance.
How to Close the Gap
For the asset manager, the encouraging news is that significant progress can be made through small, deliberate adjustments:
Reduce Excess Liquidity: Moving idle cash into diversified, long-term market assets is the most direct way to capture missed returns.
Mitigate Home Bias: Avoiding over-concentration in one’s domestic market broadens the opportunity set, raises return potential, lowers overall portfolio volatility, and protects against localized capital losses.
Leverage Professional Advice: The survey reveals that investors who work with a financial advisor show greater confidence in reaching their long-term goals and are more comfortable taking calculated risks.
Ultimately, turning long-term aspirations into disciplined investing behavior relies on harmonizing costs, incentives, and portfolio construction to ensure that risk-taking is fully aligned with the investor’s ultimate objectives.
