India, Feb. 19 -- If your retirement plans include a warm Caribbean setting and the laid-back lifestyle that comes with it, then consider Roatan, the largest of Honduras' Bay Islands.

This once-quiet fishing and farming spot has evolved into a thriving-yet surprisingly affordable-expat enclave. International Living recently named it one of the five most affordable Caribbean islands to live on, highlighting its budget-friendly real estate and cost of living. "For less than $175,000, you could have a two-bedroom Caribbean home right on the water in a quiet neighborhood with no tourists, your own private getaway," the publication reported, estimating that a monthly budget of $2,000 to $2,500 would suffice for an "average retired couple."

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