Finance

You Can Retire Rich but Not in the U.S

You can retire rich, provided you don’t live in the US. In fact, the US does not even make it among the top 10 countries in this respect. According to the Global Retirement Index, the countries that are listed as the top 10 places for retirees to live include:

  • Norway
  • Switzerland
  • Iceland
  • New Zealand
  • Sweden
  • Australia
  • Germany
  • Netherlands
  • Austria
  • Canada

The United States falls into the 14th spot of a list that features 43 counties. The list was sourced from Natixis Global Asset Management.

Today, retirees worldwide are more responsible for their personal financial security. Therefore, the countries in the top 10 have implemented regulations that provide easy access to work-based or individual retirement savings programs and accounts.

According to research findings, the US does show a high per capital income and low rates of employment and inflation. However, the country also has a high level of salary inequality, represented by a growing percentage of retirees to work-age adults. That means fewer numbers of workers are able to support or pay into government programs such as Medicare and Social Security.

On top of that. almost 30% of US workers don’t have a retirement account, such as an IRA or a 401(k). The statistics were compiled by Personal Capital.
In turn, about one in every four Americans expects to work until they are 70. The National Institute on Retirement Security also conducted a survey that showed 86% of the participants felt the country is in the midst of a retirement crisis.

The rankings of the 43 above-mentioned countries was based on access to quality healthcare and financial services and the ability for people to live well in a safe and clean environment.

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