According to a recent study by Natixis Global as reported in Financial Advisor, the United States ranks 19th in the quality of retirement available to senior citizens. The study reports that the low ranking is due mainly to the better social and health-care safety nets that exist in European countries that outranked the United States.

There were 150 countries included in the study and future needs. Coming out on top were Norway, Switzerland, Luxembourg, Sweden and Austria with other U.S. beating countries including the Czech Republic, Japan, Slovenia and Slovakia.

According to Financial Advisor the really depressing conclusion was “The economic downturn has also taken a major toll on retirement savings. Fifty-three percent of American workers 30 and older are on a path that will leave them unprepared for retirement, up significantly from 38 percent just two years ago.”

The only silver lining is that there will be an increasing need for good financial advice.

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