In terms of larger countries, Japan has always been at the forefront concerning the share of residents aged 65 or older, with more than 86,000 centenarians alone living in the island nation in 2021. As our chart based on data from the United Nations Population Division highlights, one smaller country beats the East Asian state to the number one spot when considering smaller geographic regions.
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The country in question is the tiny city-state of Monaco, which, according to the CIA Factbook, has the second highest population density worldwide. 36 percent of the country’s approximately 39,000 inhabitants are older than 65.
This, along with an extraordinarily high life expectancy, is most likely owed to the fact that it has become a haven for the rich, who can afford even the costliest medical procedures and above-average care.
With Italy, Portugal and Greece, Southern Europe is also featured prominently in this ranking. Worldwide, about one-tenth of the population is estimated to be over 65 years of age.
By 2050, low- and middle-income countries will be home to 80 percent of the world’s older population, according to projections by the World Health Organization.
To raise awareness about this topic, the United Nations General Assembly has declared the timeframe between 2021 and 2030 the “Decade of Healthy Ageing.” The initiative aims to “reduce health inequities and improve the lives of older people, their families and communities through collective action.”
This article originally appeared on Statista.com and was syndicated by MediaFeed.org.
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The best & worst states for retirement
When you think about retirement your brain almost automatically conjures images of Florida but is that the best you can hope for in retirement? While the weather is almost perpetually hot and sunny, weather does not a retirement make.
To find out which states are the best and worst places for retirement we looked at 32 different rating factors across 6 categories including: affordability; crime and poverty; culture; weather and location; and health and wellbeing to help you find the best place to spend your golden years.
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To determine the best and worst states for retirement, Finder compared the states and Washington, DC across 32 ranking factors. We scored each factor on an index with scores closer to 0 representing the states with the best drivers and 100 representing the states with the worst drivers. A score of 50 suggests the average score across all the states and DC.
Our broad categories were weighted evenly at 20 points for each:
- Affordability
- Crime and poverty
- Culture
- Weather and location
- Health and wellbeing
Affordability
- Cost of living index
- Median annual income for seniors
- Average yearly OASDI (Social security) for retired workers
- Social Security income taxed?
- Withdrawals from retirement accounts taxed?
- Public and private pension income taxed?
- Property Tax Rate
- Inheritance tax?
- Estate tax?
- Adult Day Care Median Monthly Costs
- Home Care Median Monthly Costs
- Assisted Living Median Monthly Cost
- % of seniors that could not see doctor b/c of cost in the past 12 months
Crime and poverty
- Senior poverty rate
- % of seniors that are food insecure
- Violent crime per 100k people
- Property crime per 100k people
- Burglary per 100k people
- Larceny-theft per 100k people
Culture and Arts
- Arts, entertainment, and recreation establishments per 100k people
- Food Services and Drinking Places establishments per 100k people
- Golf courses and country clubs establishments per 100k people
- Senior volunteer rate
Weather and Location
- Air pollution
- Drinking water violations
- Natural disasters per 100k sq miles
- Coastal shoreline mileage
- National Park Service acres per 100k people
Health and well-being
- Number of healthcare benchmarks for seniors that are at least average
- Life expectancy
- Senior deaths per 100k people
- Risk of social isolation among seniors
Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Federal Bureau of Investigation, Centers for Disease Control and Prevention, Federal Emergency Management Agency, Social Security Administration, Missouri Economic Research and Information Center, Tax Foundation, Agency for Healthcare Research and Quality (AHRQ), SeniorLiving.org, America’s Health Rankings, Feeding America
.
adrian825 / istockphoto
Affordibility: 57.7
Crime and poverty: 16.7
Culture: 0
Weather and location: 20
Health and well-being: 25
Overall score: 23.9
Zillow
Affordibility: 72.5
Crime and poverty: 14.3
Culture: 25
Weather and location: 11.4
Health and well-being: 21.4
Overall score: 28.9
OldHouseDreams.com
Affordibility: 49
Crime and poverty: 12.3
Culture: 55.4
Weather and location: 7.2
Health and well-being: 31
Overall score: 31
Frontpage/shutterstock
Affordibility: 52.8
Crime and poverty: 1.8
Culture: 14.5
Weather and location: 51.6
Health and well-being: 38.2
Overall score: 31.8
Davel5957
Affordibility: 67.6
Crime and poverty: 4.2
Culture: 17.2
Weather and location: 38.1
Health and well-being: 32.8
Overall score: 32
Zillow
Affordibility: 70.3
Crime and poverty: 7.2
Culture: 10.7
Weather and location: 28.6
Health and well-being: 46.5
Overall score: 32.6
DenisTangneyJr
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:Ivan Nadaski / iStock
Affordibility: 71.7
Crime and poverty: 16.7
Culture: 14
Weather and location: 40.5
Health and well-being: 27.5
Overall score: 34.1
Sean Pavone
Affordibility: 72.2
Crime and poverty: 26.9
Culture: 10.6
Weather and location: 39.4
Health and well-being: 23.1
Overall score: 34.4
stevegeer
Affordibility: 59.7
Crime and poverty: 50.5
Culture: 15.9
Weather and location: 20
Health and well-being: 30.3
Overall score: 35.3
Zillow
Affordibility: 66.7
Crime and poverty: 12.1
Culture: 23.9
Weather and location: 44.1
Health and well-being: 29.8
Overall score: 35.3
Tara Ballard
Affordibility: 73.1
Crime and poverty: 10.4
Culture: 25
Weather and location: 42.5
Health and well-being: 28.1
Overall score: 35.8
Swarmcatcher
Affordibility: 70
Crime and poverty: 6.7
Culture: 35
Weather and location: 30
Health and well-being: 45
Overall score: 37.3
SeanPavonePhoto
Affordibility: 72.5
Crime and poverty: 29.2
Culture: 11.9
Weather and location: 35.9
Health and well-being: 40
Overall score: 37.9
SeanPavonePhoto
Affordibility: 59
Crime and poverty: 28
Culture: 28
Weather and location: 43.2
Health and well-being: 36
Overall score: 38.8
Zillow
Affordibility: 64.1
Crime and poverty: 42.2
Culture: 33.3
Weather and location: 33.3
Health and well-being: 23.3
Overall score: 39.3
stonena7 / istockphoto
Affordibility: 62.4
Crime and poverty: 26
Culture: 16.2
Weather and location: 44.8
Health and well-being: 55.7
Overall score: 41
wanderluster
Affordibility: 53.8
Crime and poverty: 16.7
Culture: 25
Weather and location: 53.3
Health and well-being: 58.3
Overall score: 41.4
4nadia
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2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
:Ivan Nadaski / iStock
Affordibility: 57.6
Crime and poverty: 46.9
Culture: 45.3
Weather and location: 28.7
Health and well-being: 34.5
Overall score: 42.6
ibsky
Affordibility: 66.5
Crime and poverty: 49.1
Culture: 40.3
Weather and location: 32.2
Health and well-being: 31.3
Overall score: 43.9
f11photo
Affordibility: 53.8
Crime and poverty: 0
Culture: 100
Weather and location: 20
Health and well-being: 50
Overall score: 44.8
AnujSahaiPhotography
Affordibility: 65.6
Crime and poverty: 27.5
Culture: 35.3
Weather and location: 54.1
Health and well-being: 42.7
Overall score: 45
DepositPhotos.com
Affordibility: 59.3
Crime and poverty: 39.7
Culture: 54.4
Weather and location: 33.5
Health and well-being: 40.4
Overall score: 45.5
Zillow
Affordibility: 65.5
Crime and poverty: 51.8
Culture: 37.5
Weather and location: 45
Health and well-being: 30.3
Overall score: 46
haveseen
Affordibility: 69.4
Crime and poverty: 23.5
Culture: 34.1
Weather and location: 53.6
Health and well-being: 50
Overall score: 46.1
AlizadaStudios
Affordibility: 58
Crime and poverty: 29.4
Culture: 42.9
Weather and location: 48.2
Health and well-being: 54.4
Overall score: 46.6
depositphotos.com
Affordibility: 55.1
Crime and poverty: 36.1
Culture: 29.2
Weather and location: 53.3
Health and well-being: 62.5
Overall score: 47.3
Nebo Loop Road, Between Payson and Nephi, Utah (26) by Ken Lund (CC BY-SA)
Affordibility: 77.6
Crime and poverty: 33.7
Culture: 27.5
Weather and location: 51.7
Health and well-being: 46.4
Overall score: 47.4
depositphotos.com
Affordibility: 64.7
Crime and poverty: 72.3
Culture: 45.8
Weather and location: 28.3
Health and well-being: 31.3
Overall score: 48.5
AppalachianViews
Affordibility: 43.8
Crime and poverty: 39.8
Culture: 63.5
Weather and location: 44
Health and well-being: 53.9
Overall score: 49
HaizhanZheng
Affordibility: 53.8
Crime and poverty: 66.7
Culture: 75
Weather and location: 0
Health and well-being: 50
Overall score: 49.1
Zillow
Affordibility: 35.7
Crime and poverty: 66.7
Culture: 63.6
Weather and location: 30.9
Health and well-being: 50
Overall score: 49.4
danlogan
Affordibility: 52.2
Crime and poverty: 48.4
Culture: 39.2
Weather and location: 50
Health and well-being: 57.5
Overall score: 49.4
James_Lane
Affordibility: 75
Crime and poverty: 70.8
Culture: 25
Weather and location: 40
Health and well-being: 43.8
Overall score: 50.9
DenisTangneyJr
Affordibility: 50.1
Crime and poverty: 38.5
Culture: 40.4
Weather and location: 56.4
Health and well-being: 69.2
Overall score: 50.9
Art Wager
Affordibility: 53.3
Crime and poverty: 85.8
Culture: 41.3
Weather and location: 25.4
Health and well-being: 52.5
Overall score: 51.7
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1. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.
2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
aimintang
Affordibility: 46.2
Crime and poverty: 61.1
Culture: 54.2
Weather and location: 52.2
Health and well-being: 50
Overall score: 52.7
Eloi_Omella
Affordibility: 50.5
Crime and poverty: 54.4
Culture: 69.6
Weather and location: 47
Health and well-being: 47.8
Overall score: 53.8
marekuliasz
Affordibility: 73.2
Crime and poverty: 49.2
Culture: 52.9
Weather and location: 28.5
Health and well-being: 73.8
Overall score: 55.5
mdgmorris
Affordibility: 45.7
Crime and poverty: 78
Culture: 61.4
Weather and location: 41.6
Health and well-being: 57.4
Overall score: 56.8
traveler1116
Affordibility: 48.4
Crime and poverty: 69
Culture: 59.5
Weather and location: 53.5
Health and well-being: 55.2
Overall score: 57.1
Rolf_52
Affordibility: 59.8
Crime and poverty: 44.1
Culture: 50
Weather and location: 55.3
Health and well-being: 78.4
Overall score: 57.5
Jacob Boomsma / istockphoto
Affordibility: 63.2
Crime and poverty: 40.7
Culture: 80.6
Weather and location: 53.3
Health and well-being: 50
Overall score: 57.6
RiverNorthPhotography
Affordibility: 51
Crime and poverty: 27.2
Culture: 64.3
Weather and location: 78.4
Health and well-being: 68.9
Overall score: 58
julof90
Affordibility: 33.8
Crime and poverty: 80
Culture: 85
Weather and location: 40
Health and well-being: 60
Overall score: 59.8
” DonLand”
Affordibility: 60.5
Crime and poverty: 65.3
Culture: 73.6
Weather and location: 42.3
Health and well-being: 60.7
Overall score: 60.5
JoeChristensen
Affordibility: 49.8
Crime and poverty: 66.1
Culture: 66.7
Weather and location: 62.2
Health and well-being: 61.1
Overall score: 61.2
JoeChristensen
Affordibility: 49.3
Crime and poverty: 49.3
Culture: 88.6
Weather and location: 67.5
Health and well-being: 52.1
Overall score: 61.3
YinYang
Affordibility: 42.3
Crime and poverty: 76.9
Culture: 82.3
Weather and location: 54.9
Health and well-being: 55.7
Overall score: 62.4
DepositPhotos.com
Affordibility: 60.2
Crime and poverty: 88.2
Culture: 49.3
Weather and location: 58.4
Health and well-being: 60.5
Overall score: 63.3
knowlesgallery
Affordibility: 49.5
Crime and poverty: 60.4
Culture: 87.5
Weather and location: 71.2
Health and well-being: 59.4
Overall score: 65.6
DepositPhotos.com
Affordibility: 72.5
Crime and poverty: 97.6
Culture: 70.3
Weather and location: 33.3
Health and well-being: 72.6
Overall score: 69.3
DenisTangneyJr
We didn’t want to just give you the best and worst states to retire. Finder also reached out to experts to provide some essential retirement tips. Check out these five retirement planning words of wisdom.
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fstop123
“Don’t rely on yourself to manually save money every month. You want to automate your retirement savings. As soon as your income comes in, set up automatic transfers to move money from your checking to investment accounts, such as an IRA or taxable account.
“If you’re behind in your retirement savings, it can be overwhelming to think about increasing the amount you save, like going from a 10% savings rate to 20%. A good tip here is to start small and increase your savings rate in increments. For example, look to increase your savings rate 1% every three months. In 2.5 years time, you’ll have increased your savings rate by 10%.”
– R.J Weiss, CFP, founder of The Ways to Wealth
DepositPhotos.com
“Suppose you receive a $5,000 annual raise early in your career. If you simply invest that $5,000 annually into an investment account growing at a 10% annual rate, you will have accumulated over $822,000 in 30 years. You will have invested a total of $150,000 and have earned $672,000 from those investments.
“And, lest you believe that a 10% average annual return is unrealistic, according to Ibbotson Associates, since 1926 the average annual return on a large capitalization stock index (think S&P 500) is 10.2%, while investments in long-term government and long-term corporate bonds have on average grown annually by 5.5% and 6.1%, respectively.”
– Robert R. Johnson, PhD, CFA, CAIA , Professor, Heider College of Business, Creighton University
Tinpixels
“One way to retire faster is to start making money with the money you have. This technique is usually referred to as compound interest. Basically, what this means is that you receive interest on the money you’ve saved, and then start receiving interest on the money you save plus the interest gained.
“The more money you have saved, the more money you’ll earn through interest, and then the more money you’ll get as a result. It’s a snowball effect which can help you to save a lot more further down the line and might just cause you to be able to retire earlier than you originally planned.”
– George Birrell CPA & Founder of TaxHub
Flickr: American Advisors Group
“A pension guarantees you a lifetime income, but they’re rare in the private sector these days. There’s been some research, though, that shows a lot of younger workers are looking at annuities as a replacement for pensions.
“These are a kind of financial arrangement you pay into when you’re planning your retirement. Then, when you retire, they pay you a fixed amount of money every year for as long as you live. That’s a number you can depend on and plan around – without having to worry about outliving your retirement savings.
“One more thing you need to consider is how to squeeze as much money as possible out of Social Security. You can start collecting your benefits as young as 62, but the younger you collect your Social Security benefits, the smaller your benefits.”
– Terry Turner, Senior Writer at RetireGuide.com
DepositPhotos.com
“Simply moving to another city, state or region in the U.S. can be a disruptive life event: health experts have identified a set of symptoms that occur when individuals move from one environment to another and have labeled it Relocation Stress Syndrome’ (RSS).
“So regardless of what people read in the popular press, retiring to an ‘affordable paradise’ is a much more complicated and stressful process than many folks might imagine!”
– Timothy G. Wiedman, D.B.A., PHR Emeritus, Associate Prof. of Management & Human Resources (Retired), Doane University.
This article originally appeared on Finder.comand was syndicated by MediaFeed.org
Suwanmanee99 / istockphoto
Anton Garin image/footage / istockphoto
Featured Image Credit: Deposit Photos.
