▲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.

▲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.

▲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.

▲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.

▲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.

▲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.

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

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

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

▲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.

▲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.

▲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.

▲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.

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

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

▲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.

▲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.

▲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.

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

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

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

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

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

▲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.

▲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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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.

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

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

▲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.

▲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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After so many years of working hard, retirement can sneak up on you quickly, so why not start planning for your golden years now?

Choosing the ideal place to retire is an incredibly important decision and requires a lot of planning and research, but luckily the International Living magazine has published a list of the best destinations to relax into the better half of life. From modern cities to idyllic coastlines, check out this gallery to see the best options out there.