How Does the US Rank for Retirement Compared to Other Countries?
More Importantly, How Does Your Retirement Plan Stack Up Against a Self-Directed IRA?
An annual ranking that compared 43 countries on several retirement criteria placed the United States at number 16 (up one notch from the prior year), but countries in Western Europe dominate the top 10.
The ranking, by Natixis Investment Managers, looked at finances, material well-being, health, and quality of life that retirees in the countries experience. The move to number 16 was only by one spot for the U.S., compared to Ireland’s climb up seven spots to make it to number 7.
Each country was given a Global Retirement Index score, calculated by combining the category scores on the criteria above. The Top Ten countries earned scores ranging from 76 percent to 84 percent. They are (in reverse order starting with #10): Netherlands, Canada, Denmark, Ireland, Australia, New Zealand, Sweden, Norway, Iceland, and Switzerland. The United States (#16) increased its score over last year due to improvements in the job market, financial strength, and environmental issues such as air quality.
All Top 10 countries shared three elements in common: low levels of income inequality, available health care, and strong social programs. The U.S. faces challenges in those areas, including secure retirement for many Americans.
Boost your retirement index with a self-directed IRA
Opening a self-directed IRA can open up a whole new world of retirement savings, by including alternative assets within your retirement plan. Yes, this is allowed in the U.S! By diversifying your retirement portfolio with nontraditional investments you already know and understand, you can boost your personal retirement score with flexibility and creativity not usually allowed in typical retirement plans.
At Next Generation, we make it easier to do so with our starter kits that contain step-by-step instructions for opening and funding your new account. If you have any questions along the way, you can always reach out to our team via email at NewAccounts@NextGenerationTrust.com or call 1.888.857.8058.