All over the world, seniors are drawn to Colorado because of its breathtaking landscapes, a plethora of leisure facilities, and beautiful weather. Seniors in Los Angeles are no exception. They, too, can’t get enough of it. But when comes to taxes, economic opportunities, and overall health, Colorado is consistently ranked as one of the top locations to retire so as you can expect that attracts people of all ages. All of this is just a part of why LA seniors are moving to Colorado (in short). But let’s see more details and later on if you decide to go there – we can show you how. Also, we will show you who can help you. Moving as a senior can be tough. Luckily we can help you and point you in the right direction.
Let’s talk about taxes first
Pensions are taxed in many states at the same rate as earned income or at a slightly lower rate, but still at a level that is very similar. As you can expect for many seniors that can be tough. A pension/annuity deduction that contains Social Security, military disability pay and retired military is included in Colorado’s pension/annuity deduction along with a homestead deduction for seniors who qualify.
Individuals between the ages of 55 and 64 can exclude $20,000 in qualified retirement income under the pension/annuity subtraction, while individuals 65 and up are allowed to exclude $24,000. Those 65 and older are also eligible for a special homestead exemption. Those special exemptions exclude 50% of the worth of the main residence which has been resided for a minimum of 10 years from taxes. As a result, Colorado is a state with one of the nation’s highest tax deductions for senior citizens in the country, making it an excellent place to retire. We wanted to talk about taxes first since they are often the main issue for seniors. Surely you understand a reason. Now that we got that covered we can see other reasons why this place is so great. This is why we never recommend seniors to move from Colorado to California.
Many seniors already live here
It’s not uncommon for retirees to take into account potential problems, such as moving to an area with a lot of young people. There is a sense of loneliness and isolation when you are the only senior in your community. Colorado is an exception. Not only do a great number of people over 60 years choose to retire in this area, but the annual economic impact of retirees is estimated at over $4.75 billion. Your presence in Colorado will make a significant contribution to the state’s culture and economy. Since many seniors are already here you won’t have any problem fitting in here. Another great thing about so many seniors living here is that there are a lot of amenities suitable for seniors. All those little things can be very important when choosing a place to live. Now, you should start researching some packing tips or you can leave that to the pros.
In the process of finding a place to retire, the landscape is a definite consideration. Especially for nature lovers. There’s nothing better than relaxing on the porch and watching the sunset, or taking a fishing trip in the afternoon. There are some great lakes for fishing for those who enjoy this sport. Colorado is a beautiful place to visit. Sunsets here are spectacular, and the state’s many hills and mountains add to the allure. The view from the mountains and hills will be even more spectacular if you’re a fan of physical activity.
Healthcare is great
As you get older, you’ll need specialized medical care. That’s why Colorado is so great. More than a million people in Colorado are covered by UnitedHealthcare. Blue Cross and Blue Shield also play a major role here. As a result, Colorado is home to a wide variety of medical facilities and practitioners who accept a wide range of insurance plans. America’s Health Rankings put the state at No. 7 in 2017. Also, this is an important factor. It should be for all seniors who are looking for a place to retire. Moving to Colorado can be a great idea and this is one of the reasons why.
Colorado is an amazing place to meet other retirees and make new friends of a similar age. This can be an excellent option for those who want to retire and live in a community that offers a wide range of activities and events. Senior groups make it much easier for you to meet people of a similar age, rather than relying on chance. To stay active like many Coloradans, you may want to look into active senior communities in Denver and Colorado Springs.
For those who enjoy living in rural areas
For those who prefer to live in a less crowded, more rural setting but can’t afford to move away from the city, there are plenty of cheaper places in the suburbs or rural areas that are only a short drive away. It’s possible to get all of the conveniences you need without paying a fortune in these areas. Consider Fort Collins or even Loveland. Both of which are within driving distance of Denver. The retirement communities in Colorado Springs, which is just down the road a little bit, are also excellent options. Getting and moving here might be a bit more complicated. Luckily we know who can help you. Royal Moving Company can take good care of you.
Hiring professional movers is the best option for seniors
If you are moving to Colorado from LA – our best advice is to hire people to help you. Some will need help with every aspect of relocation if they are not very mobile. Others will require only heavy stuff like packing and heavy lifting. You can let the pros deal with it and focus on other important things like finding senior groups in Colorado that will be a great fit for you.
We think that moving to Colorado and spending retirement days there is a very good decision. Now all you need to do is find a perfect place and the right house. So, good luck with that!