The world’s happiest retirees

A study1 suggests Helsinki is the happiest place to live out retirement. The analysis also found that people typically need a pension pot worth around £225,000 to retire comfortably in one of the world’s happiest cities.

Retirement heaven

In order to rank cities from across the globe, a ‘happiness index’ was calculated, based on findings from the ‘World Happiness Report’ combined with cost of living, average salary and life expectancy data from over 50 countries.

The calculations revealed that, along with Helsinki, three more northern European capitals – Copenhagen, Reykjavik and Oslo – also featured in the world’s top-five cities with the happiest retirees. The final member of this distinguished quintet was Geneva, with Switzerland’s second most populous city third on the list.

UK retirees also happy

The analysis also produced figures taking account of not only the happiest but also the most affordable places to retire, with Melbourne topping this list of happy retirement destinations. And, reassuringly, Belfast, Edinburgh and London also featured among the world’s top 20 happiest retirement cities ranked on this basis.

1Audley Villages, 2020

It is important to take professional advice before making any decision relating to your personal finances. Information within this newsletter is based on our current understanding of taxation and can be subject to change in future. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK; please ask for details. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Taxation depends on individual circumstances as well as tax law and HMRC practice which can change.

The information contained within this newsletter is for information only purposes and does not constitute financial advice. The purpose of this newsletter is to provide technical and general guidance and should not be interpreted as a personal recommendation or advice.

The Financial Conduct Authority does not regulate advice on deposit accounts and some forms of tax advice.