Craving a touch of excitement when you leave the workplace forgood?

Needing a place where retirement money will stretch a bitfarther while still allowing you a piña colada on a sunny beachevery now and then?

Or maybe you have a craving for some peace and quiet far awayfrom the madding crowd, where you can paint landscapes or sketchancient temples or even wander through jungles seeking strangespecies of animals or plants.

Well, look no further, because the kind folks at Live and InvestOverseas have come up with what they say are the 12 best countriesin which to retire—if you're determined not to stay in the goodold USA.

Among the amenities boasted by these locations are those sunnybeaches, skiing, restaurants in which to laze away the hours overexotic cuisine, and places where you can tend your own olivetrees.

Here's a look at this delectable dozen.

1. Algarve,Portugal

Not only is Algarve the top finisher among choice ex-U.S.retirement spots, it's won Live and Invest Overseas' top spot forthe third year in a row.

What makes it so attractive?

Lots of things, including the “low cost of living, low cost ofreal estate, great weather, established expat community,user-friendly and low-cost retiree residency program” and theability to get along in English rather than have to polish up one'sforeign language skills.

That cost of living runs 30 percent lower than anywhere else onthe European continent, and a weak euro coupled with low realestate costs mean “a retired couple could live here comfortably ona budget of as little as $1,500 per month.”

2. Cayo,Belize

Both Central American and Caribbean in flavor, Cayo also offersEnglish speakers lots of incentives—although infrastructure isn'tone of them, since it's “most kindly referred to as 'developing,'”according to LIO.

But if you've a mind to run a post-retirement business, you cando it here tax free—or, on the other hand, you can wander therivers and the rainforest.

Just bear in mind that if you want more than the basics, yourotherwise-low cost of living will go up substantially—sinceanything not grown or produced locally will cost you big time.

3. Medellín,Colombia

Yes, you read that correctly. Formerly the haven of drugkingpins, Medellín has undergone a renaissance that's resulted inthe title of Most Innovative City in 2012 from no less an authoritythan The Wall Street Journal.

Why?

It boasts literary and artistic delights and excellent medicalcare in a climate that requires neither heating nor airconditioning—thus keeping utility costs down.

A favorable exchange rate means that “[i]t's possible today toenjoy a luxury-level retirement … on even a modest retirementbudget.”

4. Pau,France

Pau, in the Basque region, offers more than just ambiance.

With spectacular scenery, culture, and cuisine that are uniqueto the region, and France's health care—according to the WorldHealth Organization, the best in the world—Pau offers retireeslow-cost living that still provides sunny beaches on the Atlantic,surfing (think Biarritz) and the chance to visit Paris withoutcrossing either a continent or an ocean.

5. Abruzzo,Italy

Picture the open-air markets at which you buy locally producedwines and fresh foods—or the restaurants that will tempt you to tryall sorts of local specialties.

Couple that with a low cost of living, beaches for sunbathingand mountains for skiing, and it's hard to envision a moredelightful place to spend one's retirement years.

LIO estimates that, even including rent, a couple could retirehere on $2,000 a month or less.

6. GeorgeTown, Malaysia

If you want to venture really far afield, consider George Town,the capital of Penang in Malaysia.

Kind immigration laws, combined with a culture that can offeryou exposure to Chinese and Indian neighborhoods as well asMalaysian, in a city that began its life as a British colonialoutpost some two centuries ago, can provide enough variety tosatisfy even the most adventurous retiree.

Food is both inexpensive and delicious, with average—notupscale—restaurants able to feed you well for $3 per person, andother costs are low as well, meaning retirees can enjoythe exotisme of their surroundings without goingbroke.

7. LasTerrenas, Dominican Republic

Caribbean beaches and a low cost of living mean that retireescan enjoy life here “even if your retirement nest egg is nothingmore than a monthly Social Security check,” according to LIO.

If your resources amount to more than that, “island-hoppingaround the Caribbean could be your new retirement hobby from thisconvenient base.”

But you might not want to leave home once you get there; notonly are the laws friendly to residents—offering local homefinancing, the ability to import household goods and a car taxfree, and citizenship qualification (and thus a second passport),higher education costs are assessed in pesos for residents butdollars for nonresidents.

And establishing residency is easy.

8. Cuenca,Ecuador

This reasonably priced city will not only offer one of thelowest costs of living in the Americas, retirees will find thatthey can walk to many locations and perhaps be spared the expenseof owning a car.

Add to that a temperate climate, inexpensive high-quality healthcare, cheap real estate and a Spanish colonial atmosphere, and youhave an attractive option for retirement.

9.Chiang Mai, Thailand

If you yearn for beaches, mountains, and jungles, but also thinkyou might want to be able to supplement your retirement income—orjust want to involve yourself in your retirement home's dailylife—you should consider Chiang Mai.

Thailand offers a very low cost of living and is very friendlyto foreigners, and Chiang Mai has excellent health care facilitiesand services, making it an easy choice as a retirementdestination.

10. PuertoVallarta, Mexico.

While it's not as cheap as it once was, Puerto Vallarta stillhas a lot going for it—particularly beach living on the Pacificcoast.

It's actually more of a luxury destination, with golf, marinasand a cosmopolitan atmosphere—yet still more affordable than acomparable luxury destination elsewhere.

But be warned: Social Security alone won't cut it here.Reasonable though it may be for a luxury retirement home, PuertoVallarta will require you to have a budget that's a bit bigger thanthat.

11. Granada,Nicaragua

Picture owning a Spanish colonial home with high ceilings andcenter courtyard for only $40,000.

That's just one lure that Granada offers.

A walkable city that is both atmospheric and picturesque,Granada is kind to the pocketbook, with retiree couples able toenjoy local restaurants and other amenities on a budget of $1,200per month.

If you have as little as $600 coming in each month, you canqualify for Nicaragua's retiree residency visa program.

12.City Beaches, Panama

“City Beaches” is a stretch of Pacific coastline, made up ofbeach communities running from Chame to Playa Blanca, that takesits name from their proximity to the country's capital, PanamaCity.

While Coronado is more accessible than other communities, it'salso less affordable; you have to pay for that accessibility.

But the other communities offer plenty of advantages, simplybecause they're in Panama—where the U.S. dollar is the currency,offering no currency exchange issues for retirees, the health careis both affordable and up to international standards, and agold-standard retiree residency visa program is available.