Retiring in Denver is an exciting prospect for many people. With its beautiful mountains, low cost of living, and vibrant culture, the city offers plenty of opportunities for retirees. But before you make the move, there are a few things you should know. Here are 11 things to know before retiring in Denver.
1. Weather
Denver is known for its 300 days of sunshine a year, but the weather can still be unpredictable. Winters can be cold and snowy, while summers are usually hot and dry. Be sure to plan accordingly and prepare for all types of weather.
2. Cost of Living
The cost of living in Denver is slightly lower than the national average, but the cost of housing is higher. There are many affordable housing options, however, so you should be able to find something that fits your budget.
3. Healthcare
Denver has many excellent healthcare facilities, including the University of Colorado Hospital, Children’s Hospital Colorado, and the VA Medical Center. If you’re a veteran, you may be eligible for VA healthcare benefits. You can also take advantage of Medicare and Medicaid.
4. Transportation
Denver has an extensive public transportation system, including light rail, buses, and bike-sharing programs. There are also plenty of taxi and ridesharing services, making it easy to get around the city. For those who prefer to drive, there are plenty of parking options.
5. Taxes
Retirees in Denver may be eligible for certain tax breaks. There are also deductions for property taxes, medical expenses, and charitable donations. Be sure to research all the tax breaks available to you before filing your taxes.
6. Recreation
Denver has plenty of recreational opportunities for retirees. There are a variety of outdoor activities, such as hiking, biking, and skiing, as well as cultural attractions like museums, galleries, and performing arts centers. Denver also has an active nightlife, with plenty of bars and restaurants to explore.
7. Safety
Denver is generally a safe city, but it’s always important to be aware of your surroundings. The city has a low crime rate, but it’s still wise to be aware of potential dangers and take precautions to protect yourself.
8. Culture
Denver is a vibrant and diverse city, with a rich cultural heritage. From museums and galleries to music venues and festivals, there’s something for everyone. There are also a variety of ethnic neighborhoods to explore, each with its own unique character.
9. Dining
Denver is a great city for foodies. There are a variety of restaurants, from high-end eateries to hole-in-the-wall joints. The city is also home to many craft breweries and distilleries, as well as farmers markets and specialty food stores.
10. Housing
Denver has a variety of housing options, from single-family homes to condos and apartments. Many of the neighborhoods are walkable and have access to public transportation. There are also a number of retirement communities that offer a range of amenities.
11. Taxes
Colorado has a flat income tax rate of 4.63%, and Social Security and pension income are not taxed. There is also no inheritance tax or estate tax. Be sure to research all the tax laws before filing your taxes.
Retiring in Denver is an exciting prospect for many people. With its beautiful mountains, low cost of living, and vibrant culture, the city offers plenty of opportunities for retirees. Knowing the weather, cost of living, healthcare, transportation, taxes, recreation, safety, culture, dining, housing, and taxes can help make the transition to retirement in Denver easier.