Canada named one of the best places to retire in the world

Although the standard retirement age in Canada is 65, many aren’t waiting that long to hang up their hat.

Thanks to the FIRE (financial independence, retire early) method, which has gained popularity in recent years, people are saving and investing aggressively in order to retire in their 40s or even late 30s.

But where would you spend the rest of your days if you do manage to call it quits early?

It turns out Canada is a great choice.

The Great White North has been named one of the best countries to retire in the world, according to a new report.

 

View this post on Instagram

 

A post shared by Big 7 Travel (@big7travel)

Travel site Big 7 Travel and car comparison company EnjoyTravel conducted a study that ranks the 50 best places to retire around the globe.

Countries were ranked on quality of life, cost of living, rent index, restaurant price index, average annual temperatures, and the easiness of obtaining a visa or residency.

It also took into account healthcare, hospitality, language barriers, and the range of activities to do in the country.

Canada made the 22nd spot just below Nicaragua and before Malta.

According to the study, Canada earned a score of 160.38 for its high quality of life, overall easiness to obtain a visa/residency, and diverse activities.

You might also like:
• Canada ranked as the world's best destination for a group vacation
• Canada just lost its title as the best country in the world — here's why
• Snow bunnies, this BC ski hill was just rated one of the best for beginners in the world

“Between its jaw-dropping glacials, remote beaches, sky-high mountains and buzzing cities, it’s easy to see why,” reads the report. “There’s something for everyone.”

The study does warn people of the high rent and food prices in the country.

“Just watch your wallet when it comes to eating out and renting apartments, as prices for both are at the higher end of the spectrum,” it reads.

The latest Statistics Canada report found that the rise in food prices isn’t slowing down.

And there are plenty of ridiculously priced rentals across the country.

This ranking comes just months after Canada lost its title as the best country in the world.