There’s a long list of things to love about the United States, and we aren’t just talking about hot dogs, apple pie and baseball. But one of the things not to like is our retirement system.
Despite our overall higher standard of living and general wealth, the U.S is actually pretty lousy when it comes to retirement standards and security.
And according to a new study, the United States doesn’t even rank in the top ten.
While moving abroad might not be the answer for many retirees, the survey does highlight the amount of work still needed to help ensure that we are all able to live comfortably when we hit our golden years. New solutions and policies might be required to get us through the crisis.
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Slipping Three Spots
Merrill Lynch pegs the number of people retiring every day in the U.S. at around 10,000. However, those entering their golden years might not find them as golden as they once were, at least when it comes to the latest Natixis Global Asset Management Global Retirement Index. It turns out that the U.S. isn’t a top retirement destination. Heck, it’s not even in the top 10 or 15. This year, the U.S. ranked 17th in the world – down three spots from last year.