A new report lists the top 5 countries to retire in — and the US isn’t on it. Here’s how you can make the most of your golden years in America

Regardless of where your home country ranks, retirement security can “be an elusive goal,” writes Dave Goodsell, executive director of the Natixis Center for Investor Insight with Natixis Investment Managers.

“Globally, 66% report that they are saving less because of higher everyday costs, while 69% say it has eroded the future value of their retirement savings,” Goodsell wrote. “The impact on individuals’ psyche cannot be discounted, as 38% go so far as to say inflation is killing their retirement dreams” (2).

Still, some countries rank much higher than others. Norway, Ireland, Switzerland, Iceland and Denmark make up the top 5, while the U.S. comes in all the way down at 21. Here’s why — and how you can make the most of your golden years.

1. Norway

With an overall score of 83% on the GRI, Norway has regained the top spot on the index, though it’s still down from 87% in 2012. Still, it’s the perennial index leader, and in 2025 the country saw gains in material wellbeing (jumping from sixth to first place) and rising quality of life.

Despite a small decrease in its happiness score, Norway moved up a spot to sixth, since many other countries experienced a “more substantial drop” in their happiness score this year, notes the report.

Finances in retirement is the only area where Norway lost ground, due to a relatively high tax burden that funds its public support systems.

2. Ireland

The Republic of Ireland continues its climb up the GRI rankings, taking the No. 2 spot with a score of 82% — its best-ever ranking. It ranked first in finances in retirement and second in health, finishing in the top 10 for all other key indicators.

The biggest improvement was seen in its unemployment indicator, where it jumped six places in the rankings as economic growth continues to fuel a good jobs market. Life expectancy has also risen up the ranks and is now among the highest in the EU.

Notably, Ireland ranks No. 1 for finances in retirement — particularly in the area of inflation, with the Irish economy successfully moderating price increases after peaking in 2022.

3. Switzerland

In this year’s rankings, Switzerland fell from the top spot to No. 3, scoring 81%. However, the country still ranks in the top 10 across all four major categories. The change in its ranking is due, in part, to small declines in its material wellbeing and quality of life scores.

There was “marginal improvement” in finances in retirement, in which the country maintains its No. 2 spot, performing well in the areas of inflation, governance and bank nonperforming loans. It also took first place in environmental factors (such as climate change mitigation) and made big gains in the biodiversity and habitat indicator.

4. Iceland

Iceland’s score dropped from 81% to 79%, falling one place in the overall rankings. While the country achieved high scores overall, all categories saw declines with the exception of quality of life. Within this category, where it finished third overall, Iceland achieved a score of 100% in its air quality indicator.

In material wellbeing, Iceland fell six places to tenth, in part due to its unemployment score. However, it did experience gains in income per capita, along with improvements in interest rate and inflation indicators.

5. Denmark

Denmark broke into the top 5 in 2025, rising four places in the rankings with an overall score of 79%. This was driven by big gains in material wellbeing. While the country did see a decline in quality of life, it still remains an “area of strength.”

Its score for finances in retirement is stable, but high taxes and old-age drag down its overall score. Denmark has also managed to lower inflation “faster than much of the euro area.”

What about American retirees?

The U.S. can be found way down the list at number 21 with an overall score of 70% — though it did rise a spot from the previous year.

While the U.S. saw gains in health and finances in retirement, this was offset by declines in material wellbeing and quality of life. For example, the overall score for material wellbeing dropped to 61%, ranking 24th overall. In part, this was due to a rise in unemployment, indicating “a cooling labor market,” while income inequality dipped to 39th place.

A big driver for the drop in quality of life was a decline in happiness, which is attributed largely to higher levels of loneliness among younger Americans (though this was an issue for many countries).

The U.S. did see gains in health, rising from 27th to 24th place, driven by a rise in life expectancy. And its health expenditure per capita tops the charts.

Gains were made with finances in retirement (10th overall), and the U.S. is among the top 20 for bank nonperforming loans, interest rate, tax pressure and old age-dependency. However, “government indebtedness remains a stubborn issue, as there is little political will to rein in government spending,” according to the report (1).

With material wellbeing and quality of life on the decline, there’s a long road ahead for the U.S. if it hopes to break the top 10.

Related: How to build a nest egg your grandkids will thank you for

How to prepare for retirement in the US

If you’re planning to retire in the U.S., this ranking might seem rather dismal. So what can you do to ensure you make the most of your golden years?

Rather than solely relying on Social Security retirement benefits (and a pension, if you have one), preparing financially for your golden years could also include retirement savings accounts (such as traditional IRAs, 401(k)s, 403(b)s, 457s and SEP IRAs, along with Roth accounts) as well as brokerage accounts.

Starting to save for retirement as early as possible means you can benefit from the power of compound interest. If you have a 401(k), try to maximize your annual contributions, especially if your employer matches a portion of those contributions.