Colorado Is 2024’s 2nd Best State to Retire in the United States

Have you thought about retirement yet? Many of us have in Colorado. Whether you have money saved or not, retirement is in the back of all of our minds.

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Being prepared is essential. Retirement takes a lot more work and more money than it used to. In the past few decades, experts have seen the average retirement age climb annually.

Related: How Much Money You Need to Retire in Colorado

Part of that is because Americans have higher life expectancy rates, but it is also due to needing more money to ensure a happy and stress-free retirement.

Explained: Colorado Is One of the Best Places to Retire

WalletHub released new data on the best and worst states to retire across the nation and considered 46 factors for their ranking. Overall,  Colorado was ranked the second-best state for retirement.

We know what you're thinking: how is this possible when Colorado is getting so expensive?  Yes, Colorado is getting more expensive, but so are the majority of states across the country. According to the WalletHub ranking, Colorado is the 14th best state regarding retirement affordability.

Main Reason Why Colorado Tops the List

Colorado's top category was regarding health care. Colorado has the third-best healthcare for retirees. As we age having access to quality health care is essential. Additionally, Colorado ranked eighth highest for life expectancy.

Colorado is a great state for retirees’ physical and mental health. It has one of the lowest rates of social isolation for seniors, and very few residents above age 65 are in poverty. - WalletHub

If you are considering leaving Colorado for retirement, you might want to think twice. It is more expensive to retire in Colorado, but it is worth every penny.