Malaysia has been listed as one of the top 20 retirement destinations in the world by Forbes magazine.

“Malaysia’s climate is hot and humid, but this suits many of the retirees who want to enjoy cheap living, terrific outdoor venues and a mix of Chinese, Indian and Malay cultures. Also a plus, English is widely spoken,” Forbes said in a newsletter.

The magazine also said the country has worked hard to attract retirees with long-term visas and imposed no tax on foreign income.

“For healthcare, it is best to stay near populous places such as George Town [in Penang] on the Straits of Malacca, which is considered one of the most liveable cities in Asia, or Kuala Lumpur, the largest city.”

The downside, however, is that flights back to the US from Kuala Lumpur can take up to 19 hours, Forbes noted.

The other destinations on the Forbes’ list of top 20 retirement spots are Australia, Belize, Canada, Chile, Colombia, Costa Rica, Croatia, Ecuador, France, Ireland, Italy, Mexico, Nicaragua, Panama, the Philippines, Portugal, Spain, Thailand and Uruguay.

Forbes opined that retirement abroad is not for everyone, as one has to stay in a totally new environment, away from relatives and long-time friends. There may also be culture clashes, healthcare issues and language barriers.

“But it is also possible to enjoy a higher standard of living at a lower cost in foreign locations of natural beauty, appealing culture and great charm,” it added.

“No list is a substitute for your own due diligence, but our research can get you thinking about possible places and, perhaps, what’s important in your own situation.”

One big plus in almost all the 20 countries on the list is that quality healthcare is much cheaper than in the US.

Forbes advised retirees to consider making an extended visit for two or more months and renting the type of housing that might become their home to have a feel of the place before making any long-term financial decisions.