Americans are losing ground against residents of other countries in what’s shaping up globally to be “one of the worst years to retire in recent memory,” according to a new retirement ranking.
The US fell to 18th on the Natixis Investment Managers Annual Global Retirement Index, down one spot from last year. Income equality — where the US had the seventh-lowest ranking among the 44 countries in the index — was one of the reasons for the country’s low score, along with government debt and tax pressure.
Norway was the best-positioned country on the list, rising from third last year, thanks in part to its five-year average for interest rates turning positive in 2022. It was followed by Switzerland, Iceland, Ireland and Australia in the the top five. The UK ranked 19th, down one spot from the prior year.
It’s becoming more difficult to retire almost anywhere, as high inflation, volatility in financial markets, rising interest rates and aging populations add to financial stress on pension plans and government benefits.
