By Frederik Balfour and Miguella Lam

Retiring Outside the U.S.

Thanks to budget airlines, the Internet, and efforts by governments to woo well-heeled retirees, the choice of retirement destinations now spans all corners of the globe. Countries such as Malaysia and Costa Rica have come up with attractive visa packages, while developers in Spain and Croatia have recognized a market for expatriates looking for new homes. Singapore and Thailand have well-developed hospital facilities fueled by a boom in medical tourism. The range of retirement possibilities in this slide show caters to as many tastes as possible: For golfers there are plenty of courses in Thailand and the Philippines; lovers of New World wines might choose Australia; for retirees searching for stunning scenery there's New Zealand and South Africa. Affordability is essential, so we've ranked the following destinations according to cost of living.