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Tags: Retirement | retirement | Colorado

Benefits of Retiring in Colorado

By    |   Sunday, 01 November 2015 01:32 AM

Colorado contains majestic mountains, blue lakes, and premier hiking trails. However, the benefits of retiring in the state include more than just the state’s awe-inspiring scenery. Ranked No. 2 as one of the best places to retire in the nation by CNN Money, Colorado is second to only South Dakota.

Colorado offers a mild cold season and unique landscapes, as well as communities of active residents. Other advantages to retirees in Colorado are a lower-than-average tax burden, a feeling of well-being, the Rocky Mountains, world-class ski resorts, cultural activities, and foodie spots.

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Low Taxes
Taxes in the state are lower than the national average. Though the overall cost of living in Colorado is about eight percent higher than the rest of the nation, state and local taxes are more consumer-friendly than are other states. The tax burden is at 9.02 percent, compared to a national average of 10 percent, according to the Tax Foundation. Colorado levies no taxes on Social Security and pension income up to $20,000 for retirees under age 65, or for the first $24,000, for those who are 65 and over. Wealthier retirees are not required to pay inheritance or estate taxes.

A Sense of Well-Being
A national poll by Gallup measured happiness and feelings of well-being by residents in all states. Residents in Colorado ranked in the top 10 on this list. The poll found that Coloradans are active and happy; they enjoy life and love the great outdoors.

In addition to the happiness, the overall health of people who live in Colorado was factored into a separate poll. The state ranks No. 8 in the nation for overall good health, according to United Health Foundation. When compared to other states, Coloradans have low obesity and diabetes rates, and exercise more regularly. Of Colorado’s more than 100 hospitals, two are nationally ranked, and nine more meet standards for strong performance in the country, according to U.S. New & World Report.

The Rocky Mountains
Colorado is home to the Rocky Mountains, which rise prominently through the state’s center. One of the world’s premier skiing locations, it has been said that the state has “a mountain for everyone.” Famous resorts in Breckenridge, Aspen and Steamboat offer tourists and residents skiing trails for all ages and skill levels.

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Culture and the Arts
The arts and culture are another attraction to retirees. On a list that ranked cities with the highest number of fine artists, Boulder came in at number eight, according to The Atlantic. Boulder also has 30 art galleries, four museums, and 32 theaters.

Food
Colorado also offers many restaurants, from high-end steak and gourmet establishments, to outdoor country barbecue joints and burger counters. In Colorado Springs and Denver alone, about 4,000 restaurants serve native and foreign cuisine, according to TripAdvisor.

The Climate
In Colorado, retirees can enjoy the four seasons. Colorado summers are sunny and mild, and winters are snowy, yet not too bitter. Autumn in the state is dry, but the landscape is highlighted with its signature golden aspen trees.

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Colorado contains majestic mountains, blue lakes, and premier hiking trails. However, the benefits of retiring in the state include more than just the state's awe-inspiring scenery.
retirement, Colorado
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2015-32-01
Sunday, 01 November 2015 01:32 AM
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