World's 10 best cities to retire on a budget

  • 1. Lake Chapala, Mexico
    Just an hour south of Guadalajara lies Lake Chapala -- roughly in the same latitude as Hawaii, but at the elevation of Denver. That combination leads to near-perfect weather, which has helped make this a top destination for expatriates for 70 years. Medical care is about one-quarter the cost as in the U.S.; and if you're willing to eat like the locals, food costs are a pittance. Lunch for four at the local Wednesday market, including fish tacos and drinks, will cost you about $17. Forget high utility bills. The temperate climate makes utility costs modest. Housing is affordable and the airport is only 30 minutes away.