Looking for a secure retirement? Might be best to look
An annual ranking of global retirement puts the U.S. in the
middle of the pack, outpaced by countries like Switzerland, Iceland, Norway and
Sweden. At No. 16, the U.S. did slightly better than its 2017 ranking and beat
out the U.K., Malta, France and Japan.
The Natixis Global Retirement Index, which ranks 25
developed nations, gave the U.S. high marks for material well-being and its
financial system. But declining life expectancy and high health care costs hurt
the final ranking, the report found.
The U.S. "has the highest score for the health
expenditure per capita indicator yet is in danger of being in the bottom ten
for life expectancy," the report found. "Meanwhile, the amount spent
on healthcare per person for Chile, Czech Republic and Cyprus combined is less
than two-thirds of what the US spends, yet all three of these countries have a
higher life expectancy," it continued.
Demographics, too, are not on America's side.
"We've got the same problem the rest of the developed
world has, which is an aging population. That means you have fewer younger
people paying into retirement systems, and more older people taking money
out," said David Goodsell, executive director of Natixis Investment
Managers' Center for Investor Insight.
On the plus side, the U.S. unemployment rate is lower than
in many other countries, and interest rates are increasing.
"Low interest rates are great if you're buying a house
or a car," Goodsell said. "But if you're trying to save for
retirement, that eliminates the amount of return you can get."
here for the original article from CBS News.