Best Places to Retire in the World

By Melly Alazraki Updated Jul 9, 11:54AM EDT · Published Feb 10, 10:31AM EST

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Best Places to Retire in the World — © Image Source / DigitalVision via Getty Images

On July 3rd, as election season ramps up, the New York Times reported that Biden is aware he only has a few crucial days to secure his candidacy. Rising tensions among political parties, especially as a potential Trump presidency looms large, means many American retirees are looking for other countries to call home.

CareData Research, alongside Natixis Investment Managers, created the Global Retirement Index. This index assesses 44 countries, comparing their policies and retirement security. Using data from the 2022 Natixis Global Retirement Index, 24/7 Wall St. nailed down the best countries in the world to retire in. We also looked at the Composite Welfare Index, which looks in depth at 19 indicators across four sub-indices. These include finances, health, quality of life, and material well-being.

Based on overall score, we ranked 25 countries. World Bank Open Data provided additional information, such as retirement population, life expectancy at birth, and gross domestic product per capita in U.S. dollars.

Not surprisingly, 18 of the 25 countries on this list are in Europe, with most Northern European countries making an appearance, including Denmark, Sweden, Finland (which scores the highest quality of life), Iceland, and Norway. In fact, Norway tops the list, mainly based on its high GDP per capita ($106,000) and high life expectancy (87%).

As for Asian countries, Korea and Japan both make the list. Korea has a high life expectancy of 83.5, while almost 30% of the Japanese population is above the age of 65. The Oceania countries of Australia and New Zealand also rank highly.

Why We Are Talking About This

Gobankingrates, a financing company, recently released a study revealing the troubling truth of just how far a retirement of one million will stretch in the United States. In Massachusetts, this amount will only last 11 years. Additionally, CNET recently reported that, as of July 4th, mortgage rates in America continue to increase. Today’s average rate is 7.06%, reflecting a one week increase of 0.05%. However, for some retirees, the focus is not on the money. For those who can afford it, quality of life and life expectancy are the priority. Though many of these highest-ranking countries come with a price tag, the benefits may outweigh the financial hit.

25. Estonia

Global retirement index score, 2022: 66%
Quality of life sub-index: 68% (sub-index ranking: 23)
Pct of 65+ population, 2022: 20.6% of country population (world: 9.8%)
GDP per capita, 2022: $28,333 (world: $12,647)
Life expectancy at birth, 2021: 76.7 years (world: 71.3 years)

24. France

Global retirement index score, 2022: 66%
Quality of life sub-index: 78% (sub-index ranking: 14)
Pct of 65+ population, 2022: 21.7% of country population (world: 9.8%)
GDP per capita, 2022: $40,964 (world: $12,647)
Life expectancy at birth, 2021: 82.3 years (world: 71.3 years)

23. Malta

Global retirement index score, 2022: 68%
Quality of life sub-index: Not in the top 25 for the sub-index (sub-index ranking: Not in the top 25 for the sub-index)
Pct of 65+ population, 2022: 19.1% of country population (world: 9.8%)
GDP per capita, 2022: $33,941 (world: $12,647)
Life expectancy at birth, 2021: 82.9 years (world: 71.3 years)

22. Japan

Global retirement index score, 2022: 69%
Quality of life sub-index: 67% (sub-index ranking: 25)
Pct of 65+ population, 2022: 29.9% of country population (world: 9.8%)
GDP per capita, 2022: $33,815 (world: $12,647)
Life expectancy at birth, 2021: 84.4 years (world: 71.3 years)

21. Slovenia

Global retirement index score, 2022: 69%
Quality of life sub-index: 69% (sub-index ranking: 22)
Pct of 65+ population, 2022: 21.0% of country population (world: 9.8%)
GDP per capita, 2022: $29,457 (world: $12,647)
Life expectancy at birth, 2021: 80.9 years (world: 71.3 years)

20. Belgium

Global retirement index score, 2022: 69%
Quality of life sub-index: 74% (sub-index ranking: 17)
Pct of 65+ population, 2022: 19.7% of country population (world: 9.8%)
GDP per capita, 2022: $49,583 (world: $12,647)
Life expectancy at birth, 2021: 81.9 years (world: 71.3 years)

19. United Kingdom

Global retirement index score, 2022: 69%
Quality of life sub-index: 82% (sub-index ranking: 7)
Pct of 65+ population, 2022: 19.2% of country population (world: 9.8%)
GDP per capita, 2022: $45,850 (world: $12,647)
Life expectancy at birth, 2021: 80.7 years (world: 71.3 years)

18. United States

Global retirement index score, 2022: 69%
Quality of life sub-index: 72% (sub-index ranking: 21)
Pct of 65+ population, 2022: 17.1% of country population (world: 9.8%)
GDP per capita, 2022: $76,399 (world: $12,647)
Life expectancy at birth, 2021: 76.3 years (world: 71.3 years)

17. Korea, Rep.

Global retirement index score, 2022: 70%
Quality of life sub-index: Not in the top 25 for the sub-index (sub-index ranking: Not in the top 25 for the sub-index)
Pct of 65+ population, 2022: 17.5% of country population (world: 9.8%)
GDP per capita, 2022: $32,255 (world: $12,647)
Life expectancy at birth, 2021: 83.5 years (world: 71.3 years)

16. Israel

Global retirement index score, 2022: 70%
Quality of life sub-index: 74% (sub-index ranking: 18)
Pct of 65+ population, 2022: 12.0% of country population (world: 9.8%)
GDP per capita, 2022: $54,660 (world: $12,647)
Life expectancy at birth, 2021: 82.5 years (world: 71.3 years)

15. Canada

Global retirement index score, 2022: 71%
Quality of life sub-index: 74% (sub-index ranking: 16)
Pct of 65+ population, 2022: 19.0% of country population (world: 9.8%)
GDP per capita, 2022: $54,966 (world: $12,647)
Life expectancy at birth, 2021: 82.6 years (world: 71.3 years)

14. Austria

Global retirement index score, 2022: 71%
Quality of life sub-index: 82% (sub-index ranking: 8)
Pct of 65+ population, 2022: 19.8% of country population (world: 9.8%)
GDP per capita, 2022: $52,131 (world: $12,647)
Life expectancy at birth, 2021: 81.2 years (world: 71.3 years)

13. Sweden

Global retirement index score, 2022: 71%
Quality of life sub-index: 87% (sub-index ranking: 3)
Pct of 65+ population, 2022: 20.2% of country population (world: 9.8%)
GDP per capita, 2022: $55,873 (world: $12,647)
Life expectancy at birth, 2021: 83.2 years (world: 71.3 years)

12. Finland

Global retirement index score, 2022: 71%
Quality of life sub-index: 89% (sub-index ranking: 1)
Pct of 65+ population, 2022: 23.3% of country population (world: 9.8%)
GDP per capita, 2022: $50,537 (world: $12,647)
Life expectancy at birth, 2021: 81.9 years (world: 71.3 years)

11. Germany

Global retirement index score, 2022: 72%
Quality of life sub-index: 80% (sub-index ranking: 13)
Pct of 65+ population, 2022: 22.4% of country population (world: 9.8%)
GDP per capita, 2022: $48,432 (world: $12,647)
Life expectancy at birth, 2021: 80.9 years (world: 71.3 years)

10. Czechia

Global retirement index score, 2022: 73%
Quality of life sub-index: 68% (sub-index ranking: 24)
Pct of 65+ population, 2022: 20.6% of country population (world: 9.8%)
GDP per capita, 2022: $27,638 (world: $12,647)
Life expectancy at birth, 2021: 77.4 years (world: 71.3 years)

9. Denmark

Global retirement index score, 2022: 74%
Quality of life sub-index: 88% (sub-index ranking: 2)
Pct of 65+ population, 2022: 20.5% of country population (world: 9.8%)
GDP per capita, 2022: $66,983 (world: $12,647)
Life expectancy at birth, 2021: 81.4 years (world: 71.3 years)

8. Netherlands

Global retirement index score, 2022: 75%
Quality of life sub-index: 80% (sub-index ranking: 11)
Pct of 65+ population, 2022: 20.3% of country population (world: 9.8%)
GDP per capita, 2022: $55,985 (world: $12,647)
Life expectancy at birth, 2021: 81.5 years (world: 71.3 years)

7. Luxembourg

Global retirement index score, 2022: 75%
Quality of life sub-index: 81% (sub-index ranking: 10)
Pct of 65+ population, 2022: 15.0% of country population (world: 9.8%)
GDP per capita, 2022: $126,426 (world: $12,647)
Life expectancy at birth, 2021: 82.7 years (world: 71.3 years)

6. New Zealand

Global retirement index score, 2022: 75%
Quality of life sub-index: 81% (sub-index ranking: 9)
Pct of 65+ population, 2022: 16.3% of country population (world: 9.8%)
GDP per capita, 2022: $48,249 (world: $12,647)
Life expectancy at birth, 2021: 82.2 years (world: 71.3 years)

5. Australia

Global retirement index score, 2022: 75%
Quality of life sub-index: 77% (sub-index ranking: 15)
Pct of 65+ population, 2022: 16.9% of country population (world: 9.8%)
GDP per capita, 2022: $64,491 (world: $12,647)
Life expectancy at birth, 2021: 83.3 years (world: 71.3 years)

4. Ireland

Global retirement index score, 2022: 76%
Quality of life sub-index: 80% (sub-index ranking: 12)
Pct of 65+ population, 2022: 15.1% of country population (world: 9.8%)
GDP per capita, 2022: $104,039 (world: $12,647)
Life expectancy at birth, 2021: 82.1 years (world: 71.3 years)

3. Iceland

Global retirement index score, 2022: 79%
Quality of life sub-index: 86% (sub-index ranking: 6)
Pct of 65+ population, 2022: 15.3% of country population (world: 9.8%)
GDP per capita, 2022: $72,903 (world: $12,647)
Life expectancy at birth, 2021: 83.1 years (world: 71.3 years)

2. Switzerland

Global retirement index score, 2022: 80%
Quality of life sub-index: 86% (sub-index ranking: 5)
Pct of 65+ population, 2022: 19.3% of country population (world: 9.8%)
GDP per capita, 2022: $92,101 (world: $12,647)
Life expectancy at birth, 2021: 83.9 years (world: 71.3 years)

1. Norway

Global retirement index score, 2022: 81%
Quality of life sub-index: 87% (sub-index ranking: 4)
Pct of 65+ population, 2022: 18.4% of country population (world: 9.8%)
GDP per capita, 2022: $106,149 (world: $12,647)
Life expectancy at birth, 2021: 83.2 years (world: 71.3 years)

About the Author Melly Alazraki →

Melly Alazraki worked in the finance world, on both the buy and sell sides, before turning to writing about it. Her work has been featured in Daily Finance, Aol.com, MSN Money, The Motley Fool, BloggingStock, and 24/7 Wall St.

Melly initially wrote about general stock market and economics news before becoming a specialist, covering the pharmaceutical beat for Daily Finance. Several of her articles have been cited in papers published in Cornell University Press, Berkeley Technology Law Journal, University of Pennsylvania Law Review, and others.

Since joining 24/7 Wall St., Melly helped develop the site's data journalism side, focusing on economic, population trends, housing, and other topics.

Graduating with an honors commerce degree from the University of British Columbia, Melly uses her knowledge of economics, business, and experience to write data-supported pieces that aim to provide value and insight to readers.