Population:
465,101
Nearest large city:
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Denver
What $300,000 will buy:
3-bedroom, 2-bath remodeled Victorian home near downtown
When Richard King Brown moved to Colorado Springs from New York City, he immediately fell in love with the area’s natural beauty, including the crisp blue skies and snow-capped mountains. Now, 14 years later, he still makes a point of getting out for a five-mile walk, along with his wife, Mary, at least three evenings a week.
Even if you’re accustomed to life in a bigger city, you won’t be bored in Colorado Springs. The historic, walkable Old Colorado City neighborhood is home to numerous shops and restaurants. The city boasts an active and eclectic arts scene, with options ranging from art shows and theatrical performances to regional premieres and original works. As you stroll the city’s tree-lined streets, keep an eye out for the more than 50 pieces of public art, or pop into any of numerous art galleries.
The second-largest city in Colorado is a haven for nature lovers, with more than 9,000 acres of parkland, 105 miles of urban trails and 160 miles of park trails. On the city’s northwestern edge, explore the Garden of the Gods and hike any of its 15 miles of trails. From much of the city, you can enjoy a view of Pike’s Peak, which is only 12 miles away.
Although housing prices have increased in recent years, Colorado Springs is more affordable than Denver, an hour to the north. The city’s economy is largely driven by military personnel assigned to the Air Force Academy and several bases in the area, but young professionals and retirees are also moving in.
Colorado imposes a flat income tax of 4.63%, and the state offers taxpayers 55 and older generous tax exclusions on retirement income. Colorado doesn’t have inheritance or estate taxes. Residents of Colorado Springs pay a combined state and city sales tax rate of 8.25%.
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Strategies to Optimize Your Social Security BenefitsTo maximize what you can collect, it’s crucial to know when you can file, how delaying filing affects your checks and the income limit if you’re still working.
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Don’t Forget to Update Beneficiaries After a Gray DivorceSome states automatically revoke a former spouse as a beneficiary on some accounts. Waivers can be used, too. Best not to leave it up to your state, though.
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403(b) Contribution Limits for 2024retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
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SEP IRA Contribution Limits for 2024SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 a year.
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Roth IRA Contribution Limits for 2024Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
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SIMPLE IRA Contribution Limits for 2024simple IRA The maximum amount workers at small businesses can contribute to a SIMPLE IRA increased by $500 for 2024.
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457 Contribution Limits for 2024retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
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Roth 401(k) Contribution Limits for 2024retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
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Is a Medicare Advantage Plan Right for You?Medicare Advantage plans can provide additional benefits beneficiaries can't get through original Medicare for no or a low monthly premium. But there are downsides to this insurance too.
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What You Must Know About the Different Parts of MedicareMedicare Medicare can be complicated but we've got you covered. Here is a quick guide to the different benefits provided through each part.
