When it comes to retirement, sometimes it's all about location, location, location. While the U.S. has its fair share of beachfront property and rustic lodges to offer, there are plenty of exotic locales that may make more Americans consider retiring abroad.

The draw? Aside from beautiful scenery, the cost of living tends to be cheaper, tax burdens are sometimes lower, and the quality of health care can be quite good.

Some countries, such as Belize and Costa Rica, have no taxes on foreign retirement income, enabling U.S. citizens to receive their Social Security checks abroad without taxation. The sales and property taxes are also lower, so the monthly cost of living is much more manageable in places like Ecuador and Bali than in most retirement communities in the U.S.

That's not to say retiring abroad is all mai tais on the beach. In many countries expats who are still American citizens can find themselves paying taxes in two different countries as they are still required to file for all profits earned in the states and abroad, CNBC reported:

"There are ways to claim credit for taxes paid overseas, but complicated tax laws in each country make the process difficult. Be prepared to spend time and money to get financial advice in both the United States and your destination site."

CNBC and The Wall Street Journal also point out that certain countries may have barriers that make accessing your money harder, such as having difficulty opening up a bank account or waiting up to four weeks for Social Security checks to clear. AARP has a list of 13 questions to ask before retiring abroad.

Despite these caveats, there are a number of countries that make for great spots to settle down. Check out the gallery below for 10 possibilities. Don't see your favorite spot here? Tell us where you'd like to retire in the comments.

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  • Ecuador

    Ecuador may be one of the most inexpensive places to live for retirees on a budget. Not only is the <a href="http://www.huffingtonpost.com/2012/06/20/fortune-magazine-best-places-to-retire_n_1609136.html#slide=1115326" target="_hplink">cost of living extremely cheap</a>, according to Fortune magazine, but the South American country also uses the U.S. dollar. One couple interviewed by International Living lived on <a href="http://www.huffingtonpost.com/2012/04/17/affordable-overseas-retirement_n_1429436.html#s874483&title=Vilcabamba_Ecuador_From" target="_hplink">$600 a month</a>, spending as little as $1.25 per month on gas and $1.70 per month on water. (<a href="http://www.flickr.com/photos/palegoldenrod/4081854019/" target="_hplink">Image via Flickr</a>, Carly Lyddiard) <em>Correction: A previous version of this slide said that Ecuador was in Central America.

  • Panama

    Easy accessibility and <a href="http://www.huffingtonpost.com/2012/04/17/affordable-overseas-retirement_n_1429436.html#s874491&title=Santa_Fe_Panama" target="_hplink">excellent health care</a> are two major draws for retirees settling in Panama. According to <em>U.S. News & World Report</em>, the cost of living is not the cheapest -- especially in Panama City -- but the great <a href="http://money.usnews.com/money/blogs/On-Retirement/2012/03/19/the-18-best-places-to-retire-overseas" target="_hplink">retirement benefits</a>, <a href="http://www.aarp.org/home-garden/livable-communities/info-07-2010/best-places-retire-panama-boquete.html" target="_hplink">travel and entertainment discounts</a> and country-wide use of U.S. currency make up for the extra expenses. (<a href="http://www.flickr.com/photos/francesco_veronesi/4406579094/" target="_hplink">Image via Flickr</a>, Francesco Veronesi)

  • Philippines

    Since 1985, <a href="http://www.globalpost.com/dispatch/news/regions/asia-pacific/philippines/120703/retirement-expatriate-community-economy" target="_hplink">25,000 foreign retirees</a> have settled in the Philippines, <em>Global Post</em> reports. <a href="http://finance.yahoo.com/news/most-tax-friendly-places-retire-211248505.html" target="_hplink">Taxes are minimal</a>, so living is very comfortable on a pension of $3,000 per month. Post 50s may have to share the beach with younger folks since the minimum age <a href="http://www.globalpost.com/dispatch/news/regions/asia-pacific/philippines/120703/retirement-expatriate-community-economy" target="_hplink">for ex-pat retirees is 35.</a>. (<a href="http://www.flickr.com/photos/stoto98/5254792052/" target="_hplink">Image via Flickr</a>, SToto98)

  • Belize

    For a <a href="http://money.usnews.com/money/blogs/On-Retirement/2012/03/19/the-18-best-places-to-retire-overseas" target="_hplink">tropical climate</a> where <a href="http://www.aarp.org/home-garden/livable-communities/info-07-2010/best-places-retire-belize-corozal.html" target="_hplink">English is the official language</a>, retirees should look no further than Belize. The coastal country offers <a href="http://finance.yahoo.com/news/most-tax-friendly-places-retire-211248505.html" target="_hplink">no tax on foreign retirement income</a> and minimal sales and property taxes, according to <em>U.S. News & World Report</em>. (<a href="http://www.flickr.com/photos/hickatee/6324853508/" target="_hplink">Image via Flickr</a>, Ian Morton)

  • Southwestern France

    Some cities in France may be a bit out of the price range of the average retiree -- looking at you, Paris -- but the monthly expenses of other towns in the southwest are more affordable, notes the AARP. For Francophiles looking to settle in France, the <a href="http://www.aarp.org/home-garden/livable-communities/info-07-2010/best-places-retire-france-languedoc-roussillon.html" target="_hplink">history, culture, wine and food</a> are among the biggest enticements. (Photo credit: AP)

  • Bali

    With consistently perfect weather and beautiful beaches, Bali joins dozens of other beachfront locations that make for great retirement living. According to <em>The Wall Street Journal</em>, retirees can settle down on the Indonesian island for <a href="http://online.wsj.com/article/SB10001424052702303877604577384070844533062.html" target="_hplink">about $1,000 a month</a> (not including housing), as long as they don't mind trading in a front door for a open entryway -- as is custom in Bali. However, medical care is not the best. (Photo credit: Getty)

  • Costa Rica

    With <a href="http://finance.yahoo.com/news/most-tax-friendly-places-retire-211248505.html" target="_hplink">no taxes on foreign retirement income</a> -- according to <em>U.S. News & World Report</em> -- <a href="http://www.aarp.org/home-garden/livable-communities/info-07-2010/best-places-retire-costa-rica-central-valley.html" target="_hplink">Costa Rica</a> may be one of the ideal places to retire. Nestled between Nicaragua and Panama, the cost-friendly country boasts stunning beaches and rain forests. HuffPost bloggers Jeff Jones and Gay Haubner wrote about their experience <a href="http://www.huffingtonpost.com/jeff-jones-and-gay-haubner/house-hunting-in-costa-rica_b_1654711.html" target="_hplink">finding a house in Costa Rica</a>. (<a href="http://www.flickr.com/photos/dottieday/287835575/" target="_hplink">Image via Flickr</a>, Dottie Day)

  • Italy

    No list of places to retire abroad could be complete without Italy, where Diane Lane's character traveled to in the 2003 film "Under the Tuscan Sun." Settling in Rome is not the most feasible option, but like France, there are several Italian cities that offer a <a href="http://www.aarp.org/home-garden/livable-communities/info-07-2010/best-places-retire-italy-le-marche.html" target="_hplink">comfortable life of leisure,</a> full of delicious Italian food and wineries, on a budget, AARP reports. (<a href="http://www.flickr.com/photos/yarwood/29308454/" target="_hplink">Image via Flickr</a>, Russell Yarwood)

  • Campeche, Mexico

    Certain cities in Mexico are not the safest, especially along the U.S.-Mexico border, but there are still parts of the southern country that are increasingly popular with retirees. Campeche, located near Belize, boasts beautiful waterfront properties on the Gulf of Mexico and a low cost of living. A week's worth of market <a href="http://www.huffingtonpost.com/2012/04/17/affordable-overseas-retirement_n_1429436.html#s875023&title=Campeche_Mexico_From" target="_hplink">fruit and vegetables cost less than $10</a>, according to <em>International Living</em>. (Photo credit: <a href="http://www.flickr.com/people/malias/" target="_hplink">Flickr/Malias</a>)

  • Argentina

    While <a href="http://finance.yahoo.com/news/most-tax-friendly-places-retire-211248505.html" target="_hplink">taxes are a bit higher in Argentina</a> than other South American locales according to <em>U.S. News & World Report</em>, the large country offers a <a href="http://www.aarp.org/home-garden/livable-communities/info-07-2010/best-places-retire-argentina-buenos-aires.html" target="_hplink">wide range of places to settle</a> -- from major tourism hubs to smaller, inexpensive villages. However, retirees should plan on spending a little more on monthly expenses, because of the <a href="http://money.usnews.com/money/blogs/On-Retirement/2012/03/19/the-18-best-places-to-retire-overseas" target="_hplink">rising cost of living</a> and devaluation of the U.S. dollar, <em>U.S. News & World Report</em> writes. (<a href="http://www.flickr.com/photos/lferna/5857732656/" target="_hplink">Image via Flickr</a>, Luis Fernandez)

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