5 Worst Places to Retire If You Have No Savings

This article takes a look at the 5 worst places to retire if you have no savings. If you wish to check out our detailed analysis, you may go to 15 Worst Places to Retire if You Have No Savings.

5. Los Angeles, California

Insider Monkey Score: 30    

IM Cost of Living Index: 155.9        

Median Home Price: $1,200,000

Average Rent (1-bedroom): $2,383

The allure of its Mediterranean climate, diverse culture, and excellent healthcare may provoke retirees to consider Los Angeles for retirement. However, once they get down to calculate and plan, they may realize that this destination is not worth losing all their retirement savings on. For those who don’t know, the cost of living in Los Angeles is 55.9% higher than the national average. The median home price has crossed the million-dollar mark, and rents are $2,400 plus.