![Colorado Ranked as One of the Most Affordable States for Retirement](http://townsquare.media/site/973/files/2023/03/attachment-Untitled-design-2023-03-21T141002.882.jpg?w=980&q=75)
Colorado Ranked as One of the Most Affordable States for Retirement
The idea of retirement can conjure up blissful images of rest and relaxation; however, it can also cause stress — especially regarding affordability.
In 2021, CreditNinja.com revealed that Colorado residents start worrying about retirement around the age of 23, and according to a new study from Seniorly, they have good reason to.
READ: Colorado Residents Are Panicking About Retirement at Just 23 Years Old, Poll Says
The website notes that nearly one in four Americans have no retirement savings, and other U.S. residents are concerned about the future of Social Security and Medicare.
"It has never been more critical for retired Americans and those approaching retirement to consider myriad financial factors before settling down," said Seniorly.
Thankfully, retirement may come easier in Colorado.
Seniorly reports that the Centennial State is the sixth-best in the U.S. for retirees, just behind Virginia, Idaho, Montana, Utah, and Wyoming. But why?
The website says Colorado fares well in eight metrics: cost of living, average Medicare spending, annual median aide costs, homeowners saving on housing, electric bills, average retirement income, poverty rates, and tax friendliness.
Tax friendliness, in particular, appears to be the Centennial State's strong suit.
"Half of the top 10 states — Wyoming, Idaho, Colorado, Delaware, and Tennessee — are considered especially tax-friendly for retirees," said Seniorly, citing a Kiplinger study that ranks Colorado as the third-best state regarding taxes.
LOOK: Colorado Has the Third-Lowest Real Estate Property Taxes in the U.S.
Ready to retire? Check out the best Colorado cities for retirement in the gallery below.
The Top 10 Places to Retire in Colorado
Relaxing Riverside Log Cabin For Sale in Lyons, Colorado
More From Townsquare Fort Collins
![Does Colorado Participate in the “Did you feel it?” Program?](http://townsquare.media/site/48/files/2023/03/attachment-shefali-lincoln-yNFVWsQicdg-unsplash.jpg?w=980&q=75)
![Chamber Member Spotlight: The Lyric Is Fort Collins’ Hub for Artistic Expression](http://townsquare.media/site/973/files/2023/03/attachment-Untitled-design-2023-03-20T163429.996.jpg?w=980&q=75)
![Local Legend: 25 Photos That Show How Great Fort Collins’ Holiday Twin Is](http://townsquare.media/site/51/files/2023/03/attachment-Holiday-Twin-Fort-Collins-Colorado-29.jpg?w=980&q=75)
![2 Teenagers Dead After Sunday Sledding Accident at Copper Mountain](http://townsquare.media/site/973/files/2023/03/attachment-Untitled-design-2023-03-20T124609.677.jpg?w=980&q=75)
![Colorado Dairy Queen’s Giving Out Free Cones This Monday](http://townsquare.media/site/50/files/2023/03/attachment-Free-DQ-DL.jpg?w=980&q=75)
![VOTE: Taste of Fort Collins 2023 Local Band Contest](http://townsquare.media/site/973/files/2023/03/attachment-attachment-ocal-Band.jpg?w=980&q=75)
![WATCH: Look Back at the Craziness of 2021’s Winter Storm Xylia](http://townsquare.media/site/973/files/2023/03/attachment-Capture.jpg?w=980&q=75)
![Do CU Boulder Students Really Enjoy Their Restaurant Named After Colorado’s Cannibal?](http://townsquare.media/site/51/files/2023/03/attachment-Alferd-Packer-Grill-Colorado-5.jpg?w=980&q=75)
![8 Northern Colorado Towns Make the Top 10 Safest Cities List](http://townsquare.media/site/48/files/2023/03/attachment-11.jpg?w=980&q=75)