Living in a good place after you retire can make a huge difference, as 66% of non-retired adults say their retirement savings aren’t on track, according to WalletHub.
WalletHub recently conducted a study to find the best states to retire, comparing the 50 states across affordability, quality of life, and health care. Researchers used factors like tax rates, cost of living, access to quality medical care, and fun activities to evaluate each state.
Colorado ranked as the third-best state to retire. The Centennial State ranked 15th for affordability, 18th for quality of life, and third for healthcare. According to WalletHub, Colorado has the seventh-lowest poverty rate for residents ages 65 and older, and the 10th-lowest percentage of seniors who have faced hunger in the past 12 months. Colorado also does not have estate or inheritance taxes.
Additionally, with its opportunity for outdoor recreation and an active lifestyle, Colorado is a great place for activities that improve physical and mental health. The state provides plenty of chances for retirees to stay active and engaged. WalletHub’s research shows that the state has one of the lowest rates of social isolation for seniors and has the fourth-highest percentage of seniors in good health and the third-highest percentage who are physically active.