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This is the most expensive European country for retirement

Mediafeed Logo By Barbara Davidson of Mediafeed | Slide 1 of 47: Do you have $600k put aside for your retirement? If you’re depending on your savings to keep you in your present lifestyle when you quit work, that’s how much you might need. Just 14% of Americans in their 40s and 50s have more than half a mil put away – and if you’re in a similar position, you could enjoy a fuller retirement in a more affordable country.The lockdown has forced nearly one-third of Americanshttps://www.newsweek.com/amplify/why-americans-are-under-prepared-retirement-5-mind-boggling-facts-you-must-know to slam the brakes on their retirement savings. In fact, around 9% have withdrawn from their savings just to get by. For our latest study, we figured out that to retire at the average age in America (64) with the average life expectancy (78.7) you’d need around $601,489 in the bank. We applied the same calculations to every country on Earth to see how much a 64-year-old would need to maintain the same quality of life: going out once a week, takeout coffee once a week, no smoking, moderate drinking, no taxis or rideshares and two vacations, among other controls.

The Cost of a Comfortable Retirement Around the World

Do you have $600k put aside for your retirement? If you’re depending on your savings to keep you in your present lifestyle when you quit work, that’s how much you might need. Just 14% of Americans in their 40s and 50s have more than half a mil put away – and if you’re in a similar position, you could enjoy a fuller retirement in a more affordable country.

The lockdown has forced nearly one-third of Americans

https://www.newsweek.com/amplify/why-americans-are-under-prepared-retirement-5-mind-boggling-facts-you-must-know

 to slam the brakes on their retirement savings. In fact, around 9% have withdrawn from their savings just to get by. 

For our latest study, we figured out that to retire at the average age in America (64) with the average life expectancy (78.7) you’d need around $601,489 in the bank. We applied the same calculations to every country on Earth to see how much a 64-year-old would need to maintain the same quality of life: going out once a week, takeout coffee once a week, no smoking, moderate drinking, no taxis or rideshares and two vacations, among other controls.

© Biletskiy_Evgeniy / iStock

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