This is a guilt-trip scripture used by the JWs to keep you in their clutches just a little while longer. When I first start only expressing doubt several years ago, I was told that all JWs have doubt and was told to read a scripture and it was this one. I was told to just hang in there, focus on my pioneering and in a few short years we will be in the new world.
Well, that was about 14 years ago and I held on tightly for the first 12 years. In that time I've seen enough horrific world events and lived across the globe to know that this little simply phrase can manipulate a person into flushing their life right down the toilet without even knowing it.
I'll tell you what this scripture means, denial. It means to deny the reality that is so that you may attain a reality that will never exist.