Living abroad isn't for everybody. But if you have an adventurous spirit and are not put off by learning a new language and new customs and being far from family and friends, you can find some beautiful and even exotic locations around the world with costs of living that are a fraction of those in the U.S. Lots of countries have little or no income tax or property tax, excellent cultural opportunities and hospitals and may even have generous state-funded health care benefits. In recent years American retirees have been flocking to Panama City, where the low costs and great beaches have helped the region top International Living's Global Retirement Index six years in a row. Some other places that attract retirees include Mexico, Costa Rica, New Zealand and the tiny Mediterranean island of Malta (where they speak English). Beware: You won't be in Kansas anymore. You should spend generous amounts of time in your chosen country before moving in order to make sure you understand the laws, amenities and opportunities. To get started, check out FindYourSpot.com or EscapeArtist.com.
See more questions about where you should live:
Introduction: Where Should I Live?
Should I Move to a Low-Cost Region?
What Are the Tax Implications of a Move?
Should I Move into a Retirement Community?
Should I Just Stay Put?