Choosing to spend retired life abroad certainly has its privileges. More security, superior healthcare, a change of scenery and in many cases even a better standard of living.

Of course, standard of living for retirees boils down to two important factors: retirement savings and cost of living. That last thing is particularly important for retirees who haven’t saved as much as they had hoped. Fortunately, all hope is not lost. According to a new report by Investopedia, there are still a number of countries where you can retire and live a comfortable life with a smaller nest egg.

  1. Thailand

Foreigners flock to Thailand because of its gorgeous landscapes, rich cultural heritage, and year-round pleasant climate. If you’re looking for a somewhat exotic retirement you can’t do better than Thailand. Retirement visas are available to seniors age 50 and above (who meet the minimum income requirement) and the proximity to Pakistan means you can fly back and forth whenever your heart desires.

  1. Malaysia

Ah, Malaysia — truly Asia. The Malaysian people are as warm and welcoming as the weather. Retirees can apply for a long-term visa through the ‘Malaysia My Second Home Program’. If you’re 50 or above you will need to show at least 350,000 Malaysian ringgits (approx. PKR 1 Crore) in assets.

  1. Belize      

Sky-high palm trees, white sandy beaches and clear blue skies – these are but a few of the best reasons to retire in Belize. The small Caribbean island is extremely budget-friendly and the ‘Qualified Retired Persons Incentive Program’ makes it even more attractive for retirees aged 45 and up, as any income earned from sources outside Belize is 100% tax-free.

  1. Nicaragua

Located in the heart of Central America, Nicaragua is a premier retirement destination for those looking for an excellent quality of life, minus the steep price-tag. The government in Nicaragua also offers foreign retirees aged 45 and up, a number of financial incentives to retire there. The multi-ethnic population includes indigenous peoples, Europeans, Africans, and a surprising number of Asians.