US Drops Out of the Top 20
Like I am sure you do every year, I read the NATIXIS GLOBAL RETIREMENT INDEX (GRI) report. If you are looking to be encouraged and uplifted, the GRI is probably not the right spot to look. Watch a wholesome movie or pet some puppies instead.
What this years report revealed is that the US has dropped out of the top 20 for the first time and now sits at #22. Switzerland overtook Norway for the #1 spot so that could be good news if you are Swiss. But you are probably living here in the US and so that situation is of greater concern. Since 2020, the US has dropped from 16th to 22nd globally for retirement and I fear we may be falling faster than is good for us.
Four things considered in this year’s report are Interest Rates, Inflation, Public Debt and Ourselves. As we have all felt over the past few years, these things have not been in our favor. Rates are high, inflation is through the roof, the National Debt has skyrocketed and most Americans are not able to save as much because everything is more expensive.
The report also identifies a key framework that is important for thinking about retirement, It includes Health, Finances in Retirement, Quality of Life and Material Well Being. These findings parallel public health data on what is known as the Social Determinants of Health (SDH)
SDH points us to Economic Stability, Access and Quality Health Care and Education, Built Environment and Social and Community Context. Where these things are high, overall human health is high. That is a wonderful vision that we should all get behind.
The places that sit on the top 10 for GRI scores are located in 2 distinct places. Smaller European countries and the Australia/New Zealand part of the world. One of my family's favorite places in the world, Iceland, sits at #3. The biggest take away for me in these reports is not how individuals can succeed in creating retirement, but how society’s take care of themselves for all of life. That is worth considering and asking ourselves if we are doing a good job of that.
If you are interested in taking a look at the full report or the summary click the link below.
https://www.im.natixis.com/en-us/insights/investor-sentiment/2024/global-retirement-index
As always, if you come across a financially related article you’d like to send my way please do!
Best place to send them is to me.
More next time!
Jonathan