The U.S. Didn’t Make the Top 10 Best Countries for Retirement
The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report.
The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped the list this year, followed by Switzerland and Norway.
The other countries in the top 10 were Ireland, New Zealand, Sweden, Denmark, Canada, Australia and Luxembourg. The United States was ranked 18th.
The U.S.’s highest score was in health, at 86%, followed by quality of life, which was 76%. The country scored a 71% in finances in retirement, but only 58% in material well being. Although the U.S. has a low unemployment rate, the country suffers from a large income inequality gap and government indebtedness, which dropped its score, said Ed Farrington, executive vice president at Natixis Investment Managers. The U.S. did rank 10th in the finance subindex.
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