Provided by Dow Jones Apr 10, 2021 2:20 PM UTC A couple can live a very nice life on Isla Mujeres for around $36,000 a year, or $2,500-$3,000 a month, including rent. 4. Las Terrenas, Dominican Republic Columbus knew he was on to something good when he spotted a beautiful, coral-rimmed island in 1492. "This is the fairest land under heaven," the explorer is reported to have said. Though Columbus made many mistakes on his first voyage to the New World, he was right about the island, now known as Hispaniola, the eastern part of which is the Dominican Republic (link). (The western side is Haiti.) The Dominican Republic has great weather and world-class beaches, not to mention a low cost of living and a stable government--plus it's just 3 1/2 hours from New York, which means you can leave the city in the morning and be on the beach for lunch.