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To retire in Colorado, one will need a substantial savings account and/or pension. This state is not one of the most expensive places to live in the United States but it is pricier than many other retirement destinations.
However, Colorado has so much to offer that the benefits outweigh the costs. Colorado has beautiful scenery and multiple outdoor entertainment opportunities.
The Cost of Retiring in Colorado
It is hard to say exactly how much it will cost to retire to Colorado. A lot depends on which city a retiree chooses to live in and what forms of entertainment he or she engages in. Overall, the average retiree in Colorado can expect to spend a bit under $3,300 a month, not inclusive of rent or mortgage payments. Utilities cost around $165 a month and food comes to well over $600 a month.
Real estate in Colorado is not cheap. The rent for a one bedroom apartment will come to between $700 and $900 a month.The average house will cost around $275,000, although it is not hard to find a single family home or condo for sale at around $175,000.
A person who wants to retire in Colorado with a limited amount of money should live in a small town as opposed to a large city, as prices are cheaper in smaller towns than in Denver and Colorado Springs.
Where to Retire in Colorado
Many people who opt to retire in Colorado choose small town living. There are several small towns outside of Denver that are ideal retirement destinations.
As these towns are located close to Denver, one will still be able to enjoy all that a large city has to offer while living in a country down.
Boulder is an ideal retirement town for an active retiree. It is located near the mountains and is a beautiful, scenic place to live. There are many opportunities for mountain climbing, skiing, hiking, fishing and boating in this beautiful city.
Fort Collins is a popular retirement town in Colorado and it is not hard to see why. There are many cultural attractions and no shortage of entertainment opportunities. This town is located at the foot of the Rocky Mountains and is a friendly, relaxing place to live.
Loveland is the place to live for a retiree who appreciates the arts. This town is home to a community of sculptors that is unsurpassed in the United States. The buildings in this small town are mostly historical monuments from the turn of the century. The town is known for its good restaurants and new art galleries.
A person who wants to retire in Colorado has many options. Colorado is a beautiful state to live in and has many outdoor and indoor forms of entertainment. While the cost of living in Colorado is high, many people still opt to retire in Colorado. The scenery, cultural attractions, clean air and friendly townspeople all make Colorado a top retirement destination for retirees of all ages and from all walks of life.