How we view marijuana is constantly changing in America. Gone are the “just say no” attitudes. Instead, over the last several decades, there has been a push to study and better understand marijuana and its effects on the body.
The new mentality on this formally taboo plant has created the opportunity for Americans to experience both medicinal and recreational benefits of marijuana, legally, in many states including Colorado.
Now, retirees are taking pot-friendly states into consideration as they plan for their retirement.
Lifestyle Management for a Personal Retirement Plan
Despite the historic laws and regulations that governed marijuana nationwide, many Americans still see medicinal value in the plant. And, up until only a few years ago, Colorado was one of the only states that allowed patients to take advantage of medicinal marijuana. For that reason, many retirees began moving to Colorado to as a part of their personal retirement plan for medical care.
This realization tells an important story: lifestyle management is equally important to wealth management when it comes to a comprehensive personal retirement plan.
Whether you are choosing to partake in the marijuana industry or are simply curious, here’s a general rundown of things you should know.
The Laws of Legal Marijuana in Colorado
As it is today, you can enjoy legal marijuana in Colorado, as long as you abide by the following state laws:
- You must be 21 to buy, possess, or consume retail marijuana
- It is a felony to give, sell, or share marijuana with anyone under 21
- You can only purchase retail marijuana from a licensed retail store
- Adults can only buy and possess up to 1 ounce of marijuana at a time
- Smoking, eating, or vaping isn’t allowed in public places including sidewalks, parks and restaurants
- If you get high before you drive, you can get arrested for driving under the influence (DUI), so make sure to stay safe
There may also be city and county rules that apply in addition to these state rules.
Also, if you are a Colorado resident, you have home-growing opportunities:
- Coloradans can grow up to six plants per resident, a maximum of twelve per house, and as many as three plants flowering at one time
- Marijuana plans must be kept in an enclosed, locked area, out of view - so, this means the plants cannot be outside
- Based on the sales laws, homegrown marijuana cannot be sold to anyone - only licensed businesses can sell these products
Perhaps, it’s time to put those gardening skills to use in your retirement years.
How to Safely Experience Marijuana in Denver
Both locals and tourists have many options for joining in on the progressive marijuana scene in Denver.
- Coloradopotguide.com has a list of private marijuana clubs where locals and tourists can consume together and meet like-minded individuals
- Book a marijuana tour like: a greenhouse grow tour, marijuana concentrates class, sushi & joint rolling class, or cannabis massage for a unique experience
- For private shopping, you can view 420tours.com’s guide to the dispensaries in Denver allows you to select the experience that fits your needs
If you’re visiting Denver, you should know that while some hotels outlaw the use of marijuana in their buildings, there are now some niche hotels that include marijuana as part of their vacation packages. Options include guided tours and vaporizers that allow you to enjoy your purchases in-room.
Finding Enjoyment in Your Personal Retirement Plan
In our opinion, Colorado’s progressive culture is one of its best assets. It is not only a beautiful state but one with a smart and open-minded population. This is one of the reasons the population keeps growing. It’s also a great reason for retirees to consider relocating to Denver.
Whether marijuana is something you’d like to use or not, it’s important to take recreation into consideration as you create your personal retirement plan.
At Wealth Legacy Institute, we take a holistic look at financial planning and wealth management for each of our clients. When you walk through our doors, you’re so much more than a number, you’re a part of the Wealth Legacy Institute family. We want you to live the life you dream of, and be constantly filled with joy. Our attention to lifestyle is one of the factors that’s earned us the ranking as best financial advisors in Denver. And, we’d love to work with you, too!
For more information about retirement in Denver, check out: The 2019 Guide to Retiring in Denver.