Retiring in Colorado with APO Financial

Whether you’re from the Centennial State or choosing to call it home after finishing your career, there are some important laws, costs and processes you should be aware of. Read on to learn what you NEED to know so that you can get back to admiring the beauty that is Colorado.

There’s a unique pull to Colorado that you can only know if you’ve visited. When you first touch down in Denver, you notice the sweeping planes and wide open vistas that you simply don’t find on the east coast, or much of the country for that matter. Once you move westward, the towering Rocky Mountains, with their year round white capped peaks immediately stand out against the sky. As you take this in, you begin to notice the brisk, clean air and a keen sense of nature and wildness overcomes you. This is what brings people to Colorado and why we’re so excited to call it home.

If the above interests you then you might be considering Colorado as your home during retirement. The beauty of the Centennial State doesn’t stop outside though, the tax laws are friendly, with the income tax being one of the lowest in the nation. Expenses are reasonable as well, with utility costs falling in the middle amongst other states. And healthcare in particular is consistently ranked as some of the best in the nation.

So what else do you need to know before you commit to a Colorado retirement? The following is what we believe are important introductions to laws as well as other costs and quality of life considerations.



For the 2022 year, the income tax rate in Colorado is 4.55% (4.5% in 2021). This is one of the lowest in the nation. The income tax rate for future years may be reduced even lower to 4.5% based on circumstances related to the state constitution. Make sure to check our resource section to stay up to date on changing laws.

For the 2021 year and prior, Social Security beneficiaries under the age of 65 could exclude up to $24,000 of their benefits. On top of this, an additional $20,000 of supplementary income sources could also be excluded from state income tax. For the 2022 year, this age restriction will be removed. This means retirees 65 and over can reap these benefits moving forward.

More questions? APO Financial is acutely aware of the laws and regulations that affect retirement assets. Schedule an appointment with us and let us help guide you through the retirement process.

Estate Planning

In Colorado, it’s important to meet with an experienced financial advisor and/or attorney when planning your estate. During these meetings, you’ll typically be asked a series of questions that can help identify the financial and familial issues that are important to you. These estate planning professionals will then put together a comprehensive plan – through careful analysis – of how to best serve you in the event of mental incapacity and death.

Estate planning isn’t always a comfortable conversation, but it doesn’t have to be a difficult process. At APO financial, we pride ourselves in not only being experts in our field but sensitive to these discussions. We’ll work closely with you to ask the important questions regarding your goals and plans, working to maximize your ability to reach your financial targets.


Medical Care and Healthcare Costs

Colorado ranks 5th in healthcare quality and 7th in public health, making it one of the best states in the nation for medical care. One point to keep in mind though is that many parts of Colorado can be considered rural, which can increase times to hospitals and specialized doctors. That being said, the majority of Coloradoans and retirees live near population centers.

In terms of cost, Colorado has made strides to improve affordability and ranks favorably among other states. Moving forward, legislative bodies can be expected to make healthcare a priority as more retirees choose to call the state home.

Retirement Communities

Popular culture has often identified Florida as the retirement mecca, but in recent years many states have made a move to improve the quality of retirement communities with Colorado being a leader in this movement.

With unbeatable views, countless outdoor activities and easy access to domestic and international destinations via twelve passenger airports, most retirement communities in Colorado are an exceptional choice.

Check out this list of communities in Colorado to find your ideal location.

Protecting Your Home

If you’re moving from the east coast then you’re no stranger to hurricanes, and those coming from the west know that earthquakes are a part of life. While Colorado rarely deals with either of these concerns, there is still weather and other natural occurrences to consider. Wildfires, winter storms and tornadoes are all potential parts of life in the state.

One of our tenets at APO Financial is helping preserve what belongs to you. With asset protection strategies and thorough knowledge of various insurance types, APO can help you protect your home for you and your family.

Cost of Living

Every state has its pros and cons but very few have the beauty and awe inspiring natural spaces that Colorado does. With this in mind, the state’s location in the country brings with it a slightly higher cost of living. The bright side of this is that this bump is mostly due to housing. Costs like utilities fall in the middle among other states and food isn’t in the top 10. Transportation costs can also be greatly reduced if the state’s robust public transportation is utilized.

Final Thoughts

Whether it’s access to incredible outdoor activities or favorable financial laws that protect your assets, Colorado offers a multitude of amenities that should excite anyone looking at retirement options.

APO Financial was founded with the goals of growing, preserving and offering legacy options for your assets. If you’re considering Colorado as your retirement destination, consider APO Financial as your trusted advisor in helping solidify it.

APO Financial offers a multitude of services from Retirement Income Strategies to Life Insurance and Estate Planning.

Learn more about taking the next step, here.

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Annuities can be an important part of an overall portfolio but may not be appropriate for everyone. Before purchasing an annuity, it is important to understand the details of the product. Certain products may not be available in your state. The terms of each indexed annuity varies. It is always important to speak to a financial professional. about an annuity’s features, benefits and fees, and whether an annuity is appropriate for you, based on your financial situation and objectives. Participation rates, cap rates and/or index spreads may be subject to change by the insurance company according to the annuity contract provisions. If the insurance company makes such changes, this could adversely affect the return. Guarantees of an indexed annuity are backed by the claims-paying ability of the underwriting insurance company. The surrender charge period for a product may be longer, and the surrender charges may be higher than other annuity products. Indexed annuities are long-term investments. If the annuity contract is surrendered early, there is the possibility of a surrender charge being imposed and/or the funds may be subject to income taxes. The IRS may also impose a 10% penalty on withdrawals prior to age 59 ½, depending on the circumstances. With indexed annuities, there is the potential to lose money, depending on the product charges and minimum guarantee contract provisions. For additional information on annuities, reference the following websites: The FINRA (, the Securities and Exchange Commission (, Insured Retirement Institute (, the National Association of Insurance Commissioners ( or your state's insurance department.