India, March 11 -- For many seniors, retirement involves finding a new home base where they can maximize their budget and savings. And that sometimes means relocating abroad.

Earlier this year, International Living published its list of the best places to retire for as little as $1,200 a month. The publication considered both quantitative data, such as rent prices, utility costs, and grocery bills, and insights from its global network of contributors to compile a list of 14 places spanning Europe, Asia, and Latin America.

Those who have always dreamed of a European lifestyle should look to the Balkans and the Baltics, and consider Albania, Bulgaria, Romania, Latvia, or Lithuania.

International Living contributor Norm Bour spoke with se...