Better Data Needed for Older Coloradans
Colorado is one of the fastest aging states in the country. With older Coloradans making up a growing share of the population, Colorado cannot afford to ignore their economic security. Importantly, the Bell’s updated 2025 State of Aging highlights meaningful improvements in the economic security of older adults since the initial State of Aging study in 2021. For example, based on the Federal Poverty Level (FPL), older adults in Colorado are doing better financially, with racial and ethnic gaps starting to narrow. Annual incomes have grown, and more older Coloradans are living in age-friendly communities.
However, one of the main findings from the inaugural State of Aging remains true in the 2025 update: data gaps significantly limit our understanding of economic security for all older adults. Specifically, we lack data for historically marginalized groups of older adults: Black, Indigenous, People of Color (BIPOC), Hispanic and Latino/a older adults, LGBTQ+, older adults with disabilities, and those in rural areas. The lack of comprehensive data limits both our understanding of older adults’ financial realities and our ability to create policies that meet their diverse needs.
With support from the Next50 Foundation, the Bell Policy Center and our community partners are working on the first steps in addressing these data gaps and better understanding the full picture of economic security for older Coloradans across the state. We are pleased to share some highlights and trends from our initial conversations with partners around the state.
What are the main drivers of economic security for older adults in Colorado?
Not surprisingly, many of the important drivers of economic security for all Coloradans, like income, housing, and access to affordable health care, are just as important to older adults. But partners highlighted distinct circumstances such as fixed incomes, aging homes, growing medical needs, and risk of social isolation, that shape older adults’ experience with and access to these resources.
Fixed Income and Financial Wellness
A common theme among conversations with our partners was income. Income is one of the more obvious factors contributing to a person’s economic security. A sufficient income allows people to cover their costs of living and save for unexpected events. But many older adults who are no longer working are on a fixed income, such as Social Security income or retirement income, and savings may be limited. Many partners highlighted that with the increasing cost of living, it is difficult for older Coloradans to stretch their income and make ends meet. Additionally, while Colorado now has the Secure Savings program so that all workers can access retirement savings accounts, this is not the case for all older Coloradans — particularly those who retired prior to the program’s implementation in 2022. It is important to note that 31 percent of Coloradans 60 years old and older are employed at least part time.
The challenges in budgeting, financial literacy, and covering costs can lead to debt for older adults in addition to any other debt accumulated over their lifetime. Partners noted this was particularly true for women or people of color, for example, who often have lower earnings over their lifetime compared to their white counterparts. Intersectional data on savings and debt continues to be a need to better understand the varied experiences of older adults as it relates to their financial wellbeing.
Our Partners
The Arc of Colorado is a statewide chapter of the national community-based organization, The Arc, that advocates for and with people with intellectual and developmental disabilities. | |
CHIC is a grassroots organization based in the Denver metro area helping families break intergenerational cycles of poverty and violence through culturally relevant and whole-family focus interventions. | |
Sunshine Home Share works to strengthen communities and quality of life for older adults through a home-sharing model and financial wellness services. | |
The Savings Collaborative, based in the Roaring Fork Valley, serves people statewide in building financial resilience and wealth across generations. | |
Based in Salida, CO, PfCA is a grassroots organization of Queer and Gender diverse people advocating and providing support for gender diverse communities in rural Colorado. |
Housing
Our partners consistently cited housing as an important wealth building tool for Coloradans, though not all are able to access homeownership equitably, particularly Coloradans of color. Among older Coloradans, we see higher homeownership rates compared to all Coloradans, though racial disparities still exist. Despite higher homeownership rates, housing-related costs such as electricity and other utility bills, and the cost of maintaining or repairing homes — especially older homes — is a burden that partners said can be overlooked, especially as it relates to those living with a fixed income. Partners also emphasized the particular need for data on how long people have been homeowners and if they have moved and reasons for moving. This will help in better understanding how gentrification affects communities of color and specifically the social connectedness of older adults.
Health Care & Care Needs
Access to affordable health care is important for older Coloradans’ economic security, especially as their care needs may be increasing. While census data shows that nearly all older adults 65-plus have health insurance coverage, largely through Medicare, partners highlighted that data on access and ability to receive care is important to understand the complete picture. Particularly, partners have noted that for rural parts of the state, where transportation may be limited, physically getting to the care needed can be a challenge and an additional cost, or can result in forgoing care completely. The limited disaggregated and intersectional data in this area inhibits our ability to further understand what additional barriers may exist in rural areas for an LGBTQ+ older adult, for example.
In addition to accessing primary care, about 70 percent of those over 65 years old will need direct in-home care at some point, whether it is help bathing and getting dressed, or getting groceries and maintaining the home. Recent data shows an increase in the number of direct care workers in the state of Colorado, but with existing data it is difficult to identify who and where they are providing care. Additional data is needed to better understand who is accessing needed care.
Maintaining Independence & Resisting Social Isolation
Our partners shared that maintaining independence is a crucial part of economic security and overall well-being for older adults — especially those who need care. Whether someone has aged into a care need or an older adult who has had a disability or care need their whole life, access to supportive programs like Home and Community Based Services is essential. These resources help older adults stay in their homes and preserve their quality of life. Critical to maintaining their independence, however, is an older adult’s community of support. Having friends, family, and support systems help older adults remain connected to a sense of community and to necessary resources. While data from the Community Assessment Survey of Older Adults does ask questions of belonging and sense of community regionally, partners noted the need for further disaggregated data, for example, for those who are a part of the LGBTQ+ community or specifically for rural counties who may be more isolated from resources.
Conclusion
Across these drivers and measurements of economic security, partners emphasized the need for disaggregated and intersectional data at the county level, by age, race and ethnicity, and gender identities. With recent executive orders and changes at the federal level, finding reliable data to inform community and policy decisions may pose additional challenges that adversely affect our communities and ability to tell the full story.
Now more than ever, it is critical that Colorado’s state agencies, nonprofit organizations, and community-based partners come together to build the data infrastructure needed to reflect and support the diverse needs of older Coloradans. By addressing data gaps, we can lay the foundation for more responsive and inclusive policy that promotes economic security. Stay tuned for updates on this project and continued progress in future blog posts on our website.
