Retiring in an exotic city overseas doesn’t have to be a pipe dream.

According to Time, many people opt to live in places outside the U.S. to stretch their retirement funds.

“In the right spots abroad, expats find not only that their dollars stretch, but that they can enjoy a quality of life that’s so much richer than what they could afford at home,” said Jennifer Stevens, the executive editor of International Living, to Time.

And while settling down in Italy or the Caribbean also sound like amazing options, data from International Living says that one destination stands above the rest in the world when it comes to affordability and quality: Cusco, Peru.

And while the city may be smaller compared to the capital city of Lima, that doesn’t mean it lacks some seriously lavish perks. According to International Living, the colonial city “has ample domed churches and ancient, pedestrian-only cobblestone ideal permanent getaway for anyone looking for a quieter life marked by its beauty.”

But just because you’re retired doesn’t mean you have to live the quiet life either. Time reported that Cusco is also a modernized destination with fully renovated buildings in the city center, including hip and luxurious restaurants, shopping and residential areas. Plus, Peru has recently been recognized as a true culinary destination.

In addition to all the benefits of living a South American lifestyle, Peru is simply beautiful in terms of scenery. Those who love nature, camping and hiking will adore the local views, especially if they take trips to Machu Picchu or the Rainbow Mountain, both in the Cusco region.

According to Time, living there is surprisingly affordable. A couple could retire on $1,700 a month and still live a high quality of life. Plus, international retirees can easily apply for a retirement visa to live there.

Why wait for another reason to spend your retirement in a way that enriches your life and stretches your wallet further than you ever thought possible?