Whether retirement is a long way off or just around the corner, retiring as comfortably as possible is likely to be a primary objective.

Having analysed the happiest cities to spend retirement across the globe, one study1 has revealed that Helsinki takes the number one spot. The research also shows that people typically need a pension pot of around £225,000 to comfortably retire in one of these cities.

Best places to retire

The analysis used a ‘happiness index’ to rank cities from around the world. This was based on findings from the ‘World Happiness Report’ as well as cost of living, average salary and life expectancy data from over 50 countries.

Alongside Helsinki, three more northern European capitals – Copenhagen, Reykjavik and Oslo – also featured in the world’s top five cities with the happiest retirees. Switzerland’s Geneva made up the final member of the quintet, sitting third on the list.

UK makes the top 20

When taking into account not only the happiest but the most affordable places to retire, Australia’s Melbourne topped the list. 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 page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.

Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.

Tax and Estate planning are not regulated by the Financial Conduct Authority

The value of pensions and investments can fall as well as rise. You may get back less than you invested.

Will writing is not part of the Quilter Financial Planning offering and is offered in our own right. Quilter Financial Planning accept no responsibility for this aspect of our business.

CA Financial Services Ltd are an Independent Financial Adviser based in Sevenoaks, Kent. From our Sevenoaks offices, we offer IFA services throughout Tonbridge, Tunbridge Wells, Dartford, Orpington and across into Sussex and Surret. Please call us on 01732 617 950 to book a free initial appointment.

CA Financial Services offer financial advice, pensions, investments, ISAs, Equity Release and Inheritance Tax Planning for the whole family. We have 14 years’ experience as Financial Advisers based from Sevenoaks and are truly independent, allowing us to give our customers the best financial advice possible.