With its glorious sun-drenched beaches, abundant historical sites, quaint mountain villages and cosmopolitan cities, Italy has a huge variety of lifestyles to offer retirees. But many aspiring expats are unaware of how stunningly affordable this country can be; if you know where to look, you can rent here for under $450, while a filling meal (with wine) will set you back just $13. And it’s not just in Italy where you can find affordable European living. In this month’s cover story, we explore five low-cost countries in Europe where you can enjoy the retirement of your dreams. All of these destinations boast a great climate, terrific healthcare, a wealth of cultural treasures for you to explore and costs low enough to live a comfortable life for less. In some of these places, you can live for under $2,000 a month all told.

Individual investors in China and India are buying physical gold in ever-growing quantities…and yet the price of gold isn’t rising. What gives? The short answer would appear to be that Western investors remain fairly persistent sellers of gold, thereby suppressing the gold price. The longer answer is that no one really knows. During Asian trading hours, gold has gained a cumulative $738 an ounce since September 2011. But during New York and London trading hours, gold has racked up a loss of $1,177 per ounce. The bigger point here is that the “Asian bid” for gold is large and growing.

Gene and Patricia have been escaping harsh Canadian winters in Cancún for about 15 years now. They are among a large number of couples who have chosen the life of a “half-pat,” preferring to spend four to six months a year in their second, much warmer, home here on the Caribbean, without committing entirely to the life of full-time expats. The Rousseaus usually leave their Canadian home in early January, enjoying about five months in Cancún before returning in late April or May, depending on the Canadian weather.

Imagine the smell of freshly-baked croissants wafting through the air, or the satisfying swallow of wine made from grapes grown just down the road. Perhaps you muse about living on a sun-drenched Mediterranean beach or tucked down a cobbled lane savoring the cosmopolitan delights of a history-rich city… A retirement in Europe is a dream for many folks. And it can easily be a reality. If it’s culture, history, and variety you’re after, Europe has it all, and at a cost much lower than you may think… Over the next few pages we explore the five best low-cost options for enjoying your perfect European retirement.

Right now, in a quiet, laidback beach town steps from the blue Pacific, you’ll find a welcoming international community, cute restaurants and stores, and a remarkably low cost of living. On a budget of just $1,600 a month, a couple could live comfortably here, right near the ocean where you can fish, swim, kayak, sail, or just read a book on the sand… In an historic city we recommend, you could enjoy the cosmopolitan culture—live music and choral concerts, art galleries, independent restaurants, chic boutiques—and live comfortably for as little as $1,300 a month (less if you own your home outright).

Imagine a place of rich, earthy smells, dappled light, soaring tropical hardwoods, and thick underbrush…the dawn calls of birds and the nighttime chirps and whistles of insects. From your terrace it’s as though you have Eden on the doorstep—a thousand shades of green and nature’s bounty. These days, living in a jungle home, you can have the best of both worlds: the feeling of being set apart, while enjoying conveniences like high-speed internet and air conditioning in your own paradise.