For retirees hoping to live long and prosper in their golden years, the U.S. may not be the best option, according to the recently released Natixis Global Retirement Index.
The humbling report places Western European countries far ahead of the U.S. in areas like health, finances, quality of life, and material well-being.
“The message is clear: You will be called on to finance more of your retirement,” John Hailer, NGAM’s president and chief executive officer, said in a statement.
“Citizens of other industrialized nations can rely on strong social safety nets in old age, at least for now. In the U.S., we encourage workers to plan, save and invest, and promote policies that help them meet their future needs.”
We've highlighted the 21 highest ranking countries for retirement, according to the index.
21. Italy
Health: 8.2/10
Finances: 5.9/10
Quality of life: 8.0/10
Rounding out the top 21, Italy scores high in health and overall quality of life, but it is struggling through an economic crisis of its own.
20. United Kingdom
Health: 8.1/10
Finances: 5.6/10
Quality of life: 8.3/10
The U.K. may be in a worse financial state than the U.S. at the moment, but it does post a higher quality of life and was ranked higher for overall health.
19. United States
Health: 8.1/10
Finances: 6.9/10
Quality of life: 7.4/10
Despite is generally high quality of life and decent health ranking, the U.S. isn't one of the most financially stable places for retirees.
Fixed costs like health care and housing are increasing, and consumers approaching retirement likely saw their nest eggs shrink during the recession.
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