Which one would you choose?From the Panama to Bali, there are gorgeous islands all around the globe where the oceanfront setting is almost as beautiful as the low cost of living—making them excellent additions to your retirement plan. For example, you could live comfortably off $3,000 per month on the French-influenced island of Las Terrenas in the Dominican Republic or on as little as $1,600 per month on Isla Colón off the Caribbean coast of Panama.