Most expensive countries to retire in revealed
Australia has become one of the most expensive countries in the world to spend your retirement, with experts sharing how much we need to retire comfortably.
Australia is now regarded as the world's seventh most expensive place to retire, and is also a major target for scammers, given the country’s superannuation initiative.
Swedish loan broking group Sambla calculated Australians need at least $640,911 to retire comfortably, with this hefty amount one of the biggest in the world.
Australia's 4.1 per cent inflation rate is also higher than most of the rich world, which means a retiree would need $34,221 a year to survive, provided they aren't renting.
Australia is also a target for scammers, having $3.6trillion in superannuation savings, or the fourth highest pool in the world.
In comparison, Switzerland has been named the most expensive place in the world to retire, requiring $927,034 in retirement savings to grow old in the Alps, translating into annual costs of $46,632.
Check out the entire top ten list of most expensive countries to retire below.
10. France. $583,950 in retirement savings required
9. Austria. $598,434 in retirement savings required
8. Iceland. $607,558 in retirement savings required
7. Australia. $640,911 in retirement savings required
6. Canada. $665,752 in retirement savings required
5. Liechtenstein. $772,984 in retirement savings required
4. Singapore. $773,456 in retirement savings required
3. Qatar. $791,029 in retirement savings required
2. Monaco. $795,431 in retirement savings required
1. Switzerland. $927,035 in retirement savings required
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