11 Best Places To Retire in Colorado In 2023

Many people spend years imagining what their retirement looks like. You've likely dreamed of what you'll do when you have more time. You may also have thought about where you will live. Yes, Texas and Florida are popular choices for retirees. Many people are looking for new places to live their golden years.

Is Colorado a Good Place to Retire?

Colorado has been gaining attention and is now a popular destination for retirees. It is easy to see why its population has increased steadily over the last several years.

First, Colorado offers many obvious advantages in terms of landscape and recreation. Colorado is home to many outdoor enthusiasts, thanks to its abundance of lakes and mountains.

Colorado is also a top choice for health. Colorado is well-known for its healthy, delicious, and often local, food. Colorado has several hospitals that are nationally recognized and offer top-notch healthcare services for both seniors and young people.

Colorado also has a strong culture. Colorado is well-known for its strong outdoor culture and strong art scene. It also boasts a number of craft breweries as well as wineries.

Colorado offers some financial advantages. The cost of living in Colorado is higher than the national average and has been rising as more people move to the state. Colorado is tax-friendly for seniors. Individuals 65 years and older can take a substantial deduction from their retirement income. Colorado has one of the lowest property and sales taxes in the country. Seniors who own or occupy homes in Colorado are exempt from property tax.

Colorado's 11 Best Places for Retired

1. Greeley

  • Population: 109,323
  • % of the Population 65 Years and Older:2%
  • Median House Value: $458.146
  • Living Costs (Compared to State Average): 13% Lower
  • Healthcare Cost (Compared to State Average): 33% Lower
  • Crime Rate (Compared with the State Average: 11% Lower
  • Amenities Score A+

Greeley, located in northern Colorado's Weld County, is a major city. It is located in the northern part of Colorado, near Fort Collins, Boulder and Denver. The University of Northern Colorado is located in Greeley, a college town. The WeldWerks Brewery is also located in Greeley, one of the most renowned in Colorado. Greeley offers many outdoor recreation options, including parks, grasslands, hiking trails, and more. The city also has strong culture and history that can be experienced at local museums and other attractions.

Greeley offers many perks to residents and retirees. First, housing costs, healthcare costs and overall living expenses are all lower in Greeley than the average state. There are many amenities and a low crime rate. Greeley's only problem is its small senior population. This could make it harder to build a community.

2. Pueblo

  • Population: 112,368
  • % of the Population 65 Years and Older:2%
  • Median House Value: 312,177
  • Living Costs (Compared to State Averages): 20% Lower
  • Healthcare Cost (Compared to State Average): 9.9% Lower
  • Crime Rate (Compared with the State Average: 74% Higher)
  • Amenities Score A+

Pueblo, Colorado is a major city located in the middle of the state. The Pueblo Zoo, Colorado State University of Pueblo and the Historic Arkansas Riverwalk are all part of the city. It is popular for camping, fishing, and boating. There are many museums in Pueblo that showcase the rich history and culture of Pueblo.

Pueblo has its downsides. Its crime rate is higher than the state average. It also offers a low cost of living, with affordable housing (even lower than the national median) and low healthcare costs. The state also has a large senior population.

3. Fruita

  • Population: 13,508
  • % of the Population 65 Years and Older:3%
  • Median House Value: $433.260
  • Living Costs (Compared to State Average): 6 % lower
  • Healthcare Cost (Compared to State Average): 5.5%
  • Crime Rate (Compared with the State Average: 61% Lower
  • Amenities Score A+

Fruita is a small community in Mesa County, Colorado's western part. The city is located just minutes from Utah. Named after the state's origins as a fruit-producing area, it is still a small state. Fruita is a small community that lies along the Colorado River. It offers a lot of outdoor recreation, despite being so small. You'll find numerous popular trails, canyons, as well as other natural areas within and around the town. The Museums of Western Colorado's Dinosaur Journey Museum is located in the town.

Fruita is a small town, with a high percentage of its residents over 65. The state has lower housing costs than the average and an overall living cost that is below the state's. The state's crime rate is significantly lower than that of the national and state averages.

4. Fort Collins

  • Population: 168,538
  • % of the Population 65 Years and Older:9%
  • Median House Value: $592 263
  • Living Cost (Compared to the State average): Equal
  • Healthcare Cost (Compared to State Average): 33% Lower
  • Crime Rate (Compared to the State Average: 27% Lower
  • Amenities Score A+

Fort Collins is fourth in Colorado's largest city by population. It is located in the northwest corner of Colorado, about an hour north of Denver. Fort Collins is a city with a rich culture that will appeal to retirees. First, Fort Collins is the Craft Beer Capital in Colorado. This is a big deal considering how many craft breweries Colorado has. The city also boasts a vibrant art scene, including a ballet, opera and art galleries. Fort Collins is also surrounded by outdoor activities, such as hiking, fishing, boating and kayaking, and horseback riding.

Fort Collins' cost of living is comparable to the state average. Housing is slightly more costly, but healthcare is more affordable. The overall cost of living in the city is almost identical to that of Colorado. It also has a low crime rate, and offers many amenities. It has a small senior population, with only 10% of residents 65 and older.

5. Estes Park

  • Population: 5,880
  • % of the Population 65 Years and Older:9%
  • Median House Value: $731.040
  • Living Cost (Compared to State Average): 4 Percent Higher
  • Healthcare Cost (Compared to State Average): 33% Lower
  • Crime Rate (Compared with the State Average: 67% Lower
  • Amenities Score A+

Estes Park, a small community in Northern Colorado, serves as the base for Rocky Mountain National Park. The city is located just outside of one of the most famous national parks and is surrounded on all sides by mountains. You will find the Roosevelt National Forest and other wildlife nearby. Estes Park is the perfect place for outdoor recreation.

Estes Park's housing costs and overall cost of living are higher than the average for the state. It has a lower than average crime rate and healthcare costs. Senior citizens make up more than 40% of the population, which makes it easy to find a place.

6. Buena Vista

  • Population: 2,935
  • % of the Population 65 Years and Older: 12.
  • Median House Value: $524.725
  • Living Costs (Compared to State Averages): 5% Lower
  • Healthcare Cost (Compared to State Average): 2.2%
  • Crime Rate (Compared with the State Average: 45% Lower
  • Amenities Score A+

Buena Vista, a small community in central Colorado's Chaffee County, is known as "Buena Vista". It is known for its Collegiate Peaks Wilderness Area, which is located in the San Isabel National Forest. This area also contains part of the Sawatch Range Mountains. There are mountains all around Buena Vista. This makes it an ideal place for hiking or outdoor recreation. Buenavista Heritage Museum is another place you can find local culture.

Buena Vista is home to a very small population. According to the most recent census, it had just 3,000 residents. About 12% of them were 65 years or older. The state has lower housing and healthcare costs than the average state. The town also has a low crime rate.

7. Woodland Park

  • Population: 7,983
  • % of the Population 65 Years and Older:6%
  • Median House Value: $523.059
  • Living Cost (Compared to State Average): 4 Percent Higher
  • Healthcare Cost (Compared to State Average): 2.2%
  • Crime Rate (Compared with the State Average: 56% Lower
  • Amenities Score A

Woodland Park is located in central Colorado's Teller County. It is located in the Colorado Springs metropolitan region and only half an hour away from the city's central area. Woodland Park is known as "City Above the Clouds" due to its elevation of nearly 8,500 feet above the sea level. You can see Pikes Peak from the park, along with nature areas to all sides including campgrounds, lakes, recreation areas, and more.

Woodland Park has higher healthcare costs than the average state, but its housing costs and crime rates are lower. Nearly 19% of the city's residents are 65 or older.

8. Steamboat Springs

  • Population: 13,390
  • % of the Population 65 Years and Older:1%
  • Median House Value: $1.090,234
  • Living Costs (Compared to State Average): 23% Higher
  • Healthcare Cost (Compared to State Average): Equal
  • Crime Rate (Compared to the State Average: 55% Lower
  • Amenities Score A+

Steamboat Springs is located in the Yampa Valley, a ski resort in the northern part Colorado. Two of Colorado's most well-known ski areas are located in the city: the Howelsen Hill ski resort and the Steamboat ski area. There are many nearby peaks including Mount Werner. Geothermal hot springs are also found in the city, and they are believed to have therapeutic properties.

Steamboat Springs is not an affordable place to call home. Although its healthcare costs are comparable to the state's, the overall cost of living in Steamboat Springs is much higher. The median home price is over $1 million. It's worth the investment if you have the means to afford this charming ski town.

9. Salida

  • Population: 5,812
  • % of the Population 65 Years and Older:9%
  • Median House Value: $577.602
  • Living Costs (Compared to State Averages): 1% Lower
  • Healthcare Cost (Compared to State Average): 5.5%
  • Crime Rate (Compared with the State Average: 59% Higher)
  • Amenities Score A+

Salida, a small town in central Colorado's Chaffee County, is called "The City of the River." It is located along the Arkansas River, and it is home to Arkansas Headwaters Recreation Area. You can also find local outdoor recreation like campgrounds and hiking trails. You'll also find many mountains if you go a little further out of town.

Salia's housing costs and overall cost of living are slightly lower than the national average. Healthcare costs in Salia are slightly higher than the average for the state. Nearly one quarter of residents in the city are over 65. This makes it a great place for retirees. Salida's crime rate is almost 60% higher than the average state.

10. Grand Junction

  • Population: 66,964
  • % of the Population 65 Years and Older:3%
  • Median House Value: $384 319
  • Living Costs (Compared to State Average): 8.
  • Healthcare Cost (Compared to the State Average: 5% Higher)
  • Crime Rate (Compared to the State Average: 59% Higher)
  • Amenities Score A+

Grand Junction, a city of medium size in Colorado's western region, is located in Colorado's Western Slope. It is the heart of Colorado's wine country. It is located along the Colorado River and offers plenty of outdoor recreation including river access, lakes, wildlife, etc. There are many other attractions in the city, such as the Colorado National Monument, trailheads and botanical gardens, as well.

Grand Junction is among the most affordable cities in our list. Grand Junction has a lower cost of living than the national average and is very affordable for housing. A large number of seniors live in the city. The city's crime rate and healthcare costs are both higher than the average.

11. Montrose

  • Population: 20,648
  • % of the Population 65 Years and Older:3%
  • Median House Value: $419.425
  • Living Costs (Compared to State Average): 10% Lower
  • Healthcare Cost (Compared to State Average): 5.5%
  • Crime Rate (Compared with the State Average: 3% Higher)
  • Amenities Score A+

Montrose is a municipality in Colorado's western part. This small town is well-known for its tourism. There are many museums, restaurants and breweries to explore, as well as local lodging. Montrose is located just west of the Gunnison National Forests, Uncompahgre and Grand Mesa. It is also located east of the Dominguez-Escalante National Conservation Area.

Monrose's housing costs and overall cost of living are lower than the average for the state. More than 25% of Monrose's population is 65 years old or older. This means that retirees will find strong communities. The city's crime rate is slightly higher than the national average, as well as its healthcare costs.

Next steps for you

Colorado is a great place to retire because of its strong culture, outdoor recreation and beautiful scenery. It's important to remember that your retirement years will not be spent in the same place as where you live. You should also ensure that your finances are in order.

To determine how much money you should be saving each month in order to achieve your retirement goals, visit the Personal Capital Retirement Planner.

Get started with the Personal Capital Retirement Planner

The author is not a client at Personal Capital Advisors Corporation. He is paid as a freelancer.

This blog post contains general information and is not intended to be legal, tax, or accounting advice. No compensation exceeding $500. For your particular situation, you should speak to a qualified tax or legal professional. Remember that investing comes with risk. Your investment's value will fluctuate over time. You may lose or gain money. Personal Capital Advisors Corporation is a subsidiary owned by Personal Capital. Any reference to advisory services means that Personal Capital Advisors Corporation is referring to them. Personal Capital Advisors Corporation (SEC) is an investment advisor registered with the Securities and Exchange Commission. Registering does not imply any specific skill or training, nor does it imply endorsement of the SEC.

Frequently Asked Questions

How to Open a Precious Metal IRA?

The first step in opening an Individual Retirement Account, (IRA), is to decide if it's something you want. If you do, you must open the account by completing Form 8606. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form must be submitted within 60 days of the account opening. Once this is done, you can start investing. You may also choose to contribute directly from your paycheck using payroll deduction.

Complete Form 8903 if your Roth IRA option is chosen. The process for an ordinary IRA will not be affected.

To be eligible for a precious metals IRA, you will need to meet certain requirements. The IRS states that you must be at least 18 and have earned income. Your earnings cannot exceed $110,000 per year ($220,000 if married and filing jointly) for any single tax year. Additionally, you must make regular contributions. These rules are applicable whether you contribute through your employer or directly from the paychecks.

You can invest in precious metals IRAs to buy gold, palladium and platinum. However, physical bullion will not be available for purchase. This means that you will not be allowed to trade shares or bonds.

Your precious metals IRA can be used to directly invest in precious metals-related companies. Some IRA providers offer this option.

However, there are two significant drawbacks to investing in precious metals via an IRA. First, they are not as liquid or as easy to sell as stocks and bonds. This makes it harder to sell them when needed. Second, they are not able to generate dividends as stocks and bonds. So, you'll lose money over time rather than gain it.

How is gold taxed in Roth IRA?

Investment accounts are subject to tax based only on their current value and not the amount you originally paid. If you invest $1,000 in mutual funds or stocks and then later sell them, all gains are subjected to taxes.

But if you put the money into a traditional IRA or 401(k), there's no tax when you withdraw the money. Only earnings from capital gains and dividends are subject to tax. These taxes do not apply to investments that have been held for more than one year.

These accounts are subject to different rules depending on where you live. For example, in Maryland, you must take withdrawals within 60 days after reaching age 59 1/2 . In Massachusetts, you can wait until April 1st. And in New York, you have until age 70 1/2 . To avoid penalties, plan ahead so you can take distributions at the right time.

What Precious Metals Can You Invest in for Retirement?

Silver and gold are two of the most valuable precious metals. They are both easy to trade and have been around for years. If you want to diversify your portfolio, you should consider adding them to your list.

Gold: Gold is one of man's oldest forms of currency. It is also extremely safe and stable. This makes it a good option to preserve wealth in uncertain times.

Silver: The popularity of silver has always been a concern for investors. This is a great choice for people who want to avoid volatility. Unlike gold, silver tends to go up instead of down.

Platinium: Platinum is another form of precious metal that's becoming increasingly popular. It's like silver or gold in that it is durable and resistant to corrosion. It is however more expensive than its counterparts.

Rhodium: Rhodium can be used in catalytic convertors. It is also used as a jewelry material. It's also relatively inexpensive compared to other precious metals.

Palladium: Palladium, which is a form of platinum, is less common than platinum. It's also more affordable. This is why it has become a favourite among investors looking for precious metals.

Can I hold physical gold in my IRA?

Gold is money, not just paper currency or coinage. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Investors use gold today as part of their diversified portfolio, because it tends to perform better in times of financial turmoil.

Today, Americans prefer precious metals like silver and gold to stocks and bonds. While owning gold doesn't guarantee you'll make money investing in gold, there are several reasons why it may make sense to consider adding gold to your retirement portfolio.

One reason is that gold has historically performed better than other assets during periods of financial panic. Between August 2011 and early 2013 gold prices soared nearly 100 percent, while the S&P 500 plunged 21 percent. During those turbulent market conditions, gold was among the few assets that outperformed stocks.

Gold is one of the few assets that has virtually no counterparty risks. If your stock portfolio goes down, you still own your shares. But if you own gold, its value will increase even if the company you invested in defaults on its debt.

Finally, gold offers liquidity. This allows you to sell your gold whenever you want, unlike many other investments. The liquidity of gold makes it a good investment. This allows you to profit from short-term fluctuations on the gold market.

What is the tax on gold in an IRA

The fair market price of gold when it is sold determines the tax due on its sale. Gold is not subject to tax when it's purchased. It's not considered income. If you sell it after the purchase, you will get a tax-deductible gain if you increase the price.

For loans, gold can be used to collateral. Lenders try to maximize the return on loans that you take against your assets. This usually involves selling your gold. This is not always possible. They might just hold onto it. Or, they may decide to resell the item themselves. You lose potential profits in either case.

To avoid losing money, only lend against gold if you intend to use it for collateral. It's better to keep it alone.

Is gold a good investment IRA?

Any person looking to save money is well-served by gold. You can diversify your portfolio with gold. But gold is not all that it seems.

It's been used throughout history as a currency, and even today, it remains a popular form of payment. It is often called “the most ancient currency in the universe.”

But gold, unlike paper currency, which is created by governments, is mined out from the ground. It's hard to find and very rare, making it extremely valuable.

The supply-demand relationship determines the gold price. When the economy is strong, people tend to spend more money, which means fewer people mine gold. As a result, the value of gold goes up.

On the flipside, people may save cash rather than spend it when the economy slows. This leads to more gold being produced which decreases its value.

This is why gold investment makes sense for both individuals and businesses. You'll reap the benefits of investing in gold when the economy grows.

You'll also earn interest on your investments, which helps you grow your wealth. In addition, you won’t lose any money if gold falls in value.


  • The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
  • If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
  • If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
  • Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
  • Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)

External Links





How To

Tips for Investing with Gold

Investing in Gold is one of the most popular investment strategies worldwide. This is due to the many benefits of investing in gold. There are many options for investing in gold. There are many ways to invest in gold. Some prefer buying physical gold coins while others prefer gold ETFs (Exchange Traded Funds).

Before buying any type gold, it is important to think about these things.

  • First, find out if your country allows gold ownership. If the answer is yes, you can go ahead. If not, you may want to consider purchasing gold from overseas.
  • The second is to decide which kind of gold coin it is you want. There are many options for gold coins: yellow, white, and rose.
  • Third, consider the cost of gold. It is best to begin small and work your ways up. You should diversify your portfolio when buying gold. You should invest in different assets such as stocks, bonds, real estate, mutual funds, and commodities.
  • Don't forget to keep in mind that gold prices often change. Be aware of the current trends.


By: Erin Gobler
Title: 11 Best Places to Retire in Colorado in 2023
Sourced From: www.personalcapital.com/blog/retirement-planning/best-places-to-retire-in-colorado/
Published Date: Wed, 21 Sep 2022 20:18:08 +0000

Recent Posts
Latest Featured Posts
Latest News Posts