What do I need to know before retiring in Monaco?

"Monaco is an attractive destination for retirees due to its low taxes, warm climate, and high quality of life. However, expats should be aware that the cost of living in Monaco is very high, and that the country has strict residency requirements. Expats should also be aware that Monaco is a very small country, and that there are limited housing options available. Additionally, expats should research the healthcare system in Monaco, as it is not part of the European Union and does not have a reciprocal healthcare agreement with other countries. Finally, expats should be aware that Monaco is a very safe country, but that it is also very expensive," said another expat in Monaco.