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Malta - This tiny Mediterranean island boasts 300 days of sun, as well as mild winters. It also has a small population with English as one of the official languages.

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Malta - A couple can live comfortably on the island for US$2,700 a month. A visit to a medical clinic costs around US$20 and a specialist will cost around US$65.

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Portugal - This country has a high quality of life, all the wine you could want, and almost 300 days of sun, as well as a pleasant climate.

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Portugal - In the capital, Lisbon, a couple can pay US$2,200 a month in cost of living. In other nearby cities, the cost of living goes down to US$1,700 a month.

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Nicaragua - This country is full of chocolate, cafés, rum and cigars. The people are also incredibly friendly and receptive, making it the perfect location for retirement.

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Nicaragua - A couple can live comfortably on US$1,500 a month. The government facilitates the moving process for retirees and also makes it easy for them to open a business if they wish.

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Mexico - This country is known for being highly developed and having a rich culture in addition to a low cost of living.

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Mexico - The rent for a two-bedroom apartment in Mexico City is around US$750.

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Colombia - The country offers a mild climate, unique cafés, tropical forests, mountains and even the Caribbean sea. Healthcare is also excellent and very low cost.

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Colombia - In the Medellín region, a couple can live off just US$2,000 a month, rent included. In less popular areas, the cost of living can be as low as US$500.

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Panama - This country has very close ties with the United States and treats foreigners very well. Their supermarkets are full of imported goods, they have 24-hour services and good internet.

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Panama - The country welcomes retirees with open arms, making it very easy for them to obtain residency visas. They even offer programs that give discounts of up to 50% for healthcare, trips and food, among others.

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Spain - It is the European country that offers one of the lowest costs of living. The Mediterranean cuisine is one of the highlights of this country.

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Spain - In smaller cities, a couple can live comfortably for US$1,900, rent included.

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Costa Rica - This country is very welcoming and the islands are a paradise for retirees. They don't even have an army!

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Costa Rica - Although some medical costs are more expensive, the cost of living is relatively low. Many retired couples live well on US$2,000 per month, including the costs for housing, transportation, utilities, food, and entertainment.

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Malaysia - This country is one of the friendliest in Asia. It's incredibly clean and modern, has a high functioning transport system, and is filled with beautiful scenery.

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Malaysia - One of the greatest advantages of the country is its healthcare. Aside from being affordable in comparison with the US, it is of incredibly high quality.

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Ecuador - The mountainous country is known for having a variety of different climates.

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Ecuador - Their excellent healthcare is relatively cheap and a couple can live on the Ecuadorian coast for around US$1,500 a month.

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Belize - The only Central American country with English as its official language, Belize is also a paradise with an incredible climate and natural attractions.

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Belize - The country has a government program for foreign retirees with benefits and discounts of up to 50%.

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Chile - The country is politically stable and has a very diverse climate, from desert heat to cold and snow. Healthcare is considered excellent and affordable.

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Chile - There are no taxes for those on social security, and documents such as visas are waived for those that can prove they have a source of income.

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Canada - The country is known for incentivizing and welcoming immigrants. It is modern, well-organized, secure, and has a high but affordable quality of life.

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Canada -

Big cities like Toronto and Vancouver are expensive to live in, but smaller cities could be a great option. For instance, average rent in a small Canadian city is around US$750.

Extra tip: some of the best places to retire in are the nation's capital, Ottawa, and British Columbia's Sunshine Coast.

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Croatia - Located on the Adriatic Sea, the country boasts beautiful landscapes, a pleasant climate all year round, and a high quality of life.

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Croatia - Aside from the low cost of living, retirees pay reduced taxes. Popular cities include Dubrovnik, and those along the Istrian peninsula.

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Australia - Australia has a reasonable cost of living, a great healthcare system, and a high quality of life. Retirees are attracted by a pleasant climate and low crime rates.

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Australia - In order to retire in this country, it's necessary to fulfill financial requirements, such as having a certain amount of liquid assets depending on which area you plan to retire in. The low end of the spectrum requires around US$750,000 in liquid assets per couple.

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