5 Worst Places to Retire If You Have No Savings

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1. San Francisco, California

Insider Monkey Score: 43    

IM Cost of Living Index: 267.8        

Median Home Price: $1,360,000

Average Rent (1-bedroom): $2,995

The worst place to retire if you have no savings is San Francisco. The cost of living in San Francisco is crazy expensive, an estimated 167.8% higher than the national average. Meanwhile, the median home price is $1.3 million. Considering these numbers, it is evident that only the filthy rich can afford to retire here. Even wealthy retirees might opt to live elsewhere and spend their money on travel or luxury instead.

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