In the latest Mercer CFA Institute Global Pension Index, Portugal came first for the most secure financial retirement system among 47 countries. The United States came in at a modest 24th position.
With many U.S. citizens fearing a delayed retirement due to under saving, the country’s retirement system based largely on individual retirement accounts and 401(k)s has faced criticism.
The study examined factors including benefits, system design, savings, government support, and home ownership.
Portugal, on the other hand, boasts a lower cost of living and top-tier healthcare.
My Take…
This was a bit of a surprise to be honest. Then again, the study looked at how locals faired if they retired locally. The low cost of living and low retirement age are the main reasons Portugal makes it to the #1 spot.
Low cost of living in Portugal is why it’s a popular retirement destination for Americans, as in general, they usually have more money in retirement than many other nations.
Low cost of living in Portugal is why it’s a popular retirement destination for Americans, as in general, they usually have more money in retirement than many other nations.
For more details click on the link:
https://www.businessinsider.com/retirement-plans-most-generous-countries-best-places-to-retire-2023-10
