This Country Was Just Named the Happiest for Retirees — With the Highest Life Satisfaction Among Seniors (2024)
Finland may have claimed the title of happiest country in the world for a record seventh year, but if you're over 60, you may want to seek happiness elsewhere.
Denmark has the highest level of life satisfaction among seniors and retirees, according to the World Happiness Report, which, for the first time ever, ranked countries by age group. The Nordic state scored second in the overall ranking and fifth for the happiness of its young people.
"Global happiness inequality has increased by more than 20 percent over the past dozen years, in all regions and age groups, to an extent that differs a lot by age and by region," the report noted. It stated that Baby Boomers, or those born before 1965 tend to be happier than millennials and Generation Z, or those born after 1980, even if the COVID-19 pandemic affected that generation the most.
Life expectancy in Denmark has steadily increased since the 1950s and is expected to reach 87 for women and 85 for men over the next 30 years, much faster than the rest of the world. Currently, the average retirement age in Denmark is 65, but it will change to 68 in 2030. Denmark spends 8.1 percent of its GDP to fund its universal pension system, which consists of a basic pension and supplements. However, some pensioners may also be eligible for "a supplementary pension benefit, a personal allowance, a health allowance, and a heating supplement," according to an analysis by the Organisation for Economic Co-operation and Development. In addition, seniors in Denmark are entitled to deep discounts on fares for public transportation and cultural institutions.
And according to a survey by the Nordic Welfare Center that gathered data between 2003 and 2020, 61 percent of Danes between the ages of 65 and 74, reported high overall satisfaction with their health.
"As people age, the prevailing negativity bias of younger ages is on average across the world increasingly offset as age leads people to focus more on positive news and memories, to accumulate enriching life experiences, to think better of others, and to rate their lives more highly," the World Happiness Report found. It also recorded a slight decline in reported happiness levels as age increases.
Finland is second on the list of happiest countries for seniors, and Norway is third. Afghanistan, Lebanon, and Lesotho are at the bottom of the ranking.
The World Happiness Report is a publication that contains articles and rankings of national happiness, based on respondent ratings of their own lives, which the report also correlates with various (quality of) life factors. The report primarily uses data from the Gallup World Poll.
https://en.wikipedia.org › wiki › World_Happiness_Report
. The country consistently ranks highly in happiness measures for a number of reasons. This year's report was no exception: The country took the top spot for people over 60 and ranked second overall (only placing behind Finland).
Denmark has the highest level of life satisfaction among seniors and retirees, according to the World Happiness Report, which, for the first time ever, ranked countries by age group.
Finland is the happiest country in the world for the seventh year in a row. Finland ranked as the happiest country in the world again, according to The World Happiness Report.
Is it the relative lack of crime and corruption, or just plain Danish hygge? According to the World Happiness Report, happiness is closely linked to social equality and community spirit - and Denmark does well on both. Denmark has a high level of equality and a strong sense of common responsibility for social welfare.
1. Finland. For the seventh year running, Finland has been named the happiest country in the world. Measures such as generosity (in Finland, people highly likely to expect lost wallets to be returned, for example), income, freedom of choice and life expectancy can explain why this country keeps coming out on top.
Just why Finns are happier than others comes down to a number of factors including lower income inequality (most importantly, the difference between the highest paid and the lowest paid), high social support, freedom to make decisions, and low levels of corruption.
High taxation in Denmark funds extensive public services, improving the overall quality of life. So overall, most people living in Denmark experience a higher cost of living, which also leads to a high quality of life. According to the Global Peace Index, Copenhagen is also one of the safest cities.
Denmark supports a high standard of living—its per capita gross national product is among the highest in the world—with well-developed social services. The economy is based primarily on service industries, trade, and manufacturing; only a tiny percentage of the population is engaged in agriculture and fishing.
Finland maintains its position as the leader in happiness, while countries in Eastern Europe, including Czechia, Lithuania, and Slovenia, have climbed the rankings to positions 18, 19, and 21 respectively. This upward trajectory has displaced Western nations like the United States and Germany from the top twenty.
Many countries offer excellent health care, infrastructure and amenities at a fraction of the cost compared to the U.S. The cheapest places to retire abroad include Panama, the Philippines, Portugal, Malaysia, Mexico, Thailand and Vietnam.
Norway is rated one of the top overall countries to retire to, due to its excellent healthcare, strong economy, beautiful scenery, and focus on work-life balance. Financial security, healthcare system, and lifestyle are the most common factors to consider when choosing a retirement country.
Many countries offer excellent health care, infrastructure and amenities at a fraction of the cost compared to the U.S. The cheapest places to retire abroad include Panama, the Philippines, Portugal, Malaysia, Mexico, Thailand and Vietnam.
Denmark, according to the World Happiness Report. The country consistently ranks highly in happiness measures for a number of reasons. This year's report was no exception: The country took the top spot for people over 60 and ranked second overall (only placing behind Finland).
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