The idea of living comfortably on a $40,000 annual budget in metro Denver may sound pretty far-fetched, but according to a new report from AARP, it's at least possible to do elsewhere in Colorado.

Cañon City — a small, 12.5-square-mile town about 115 miles south of Denver and 45 miles south of Colorado Springs — is considered by the group as one of the U.S.'s "10 Great Places to Live on Less Than $40K."

The list was put together by AARP, the Washington, D.C.-based retirement association, to help people nearing retirement age decide where to live.

"Plenty of people only discover this welcoming little haven when they’re out playing. Because it straddles the Arkansas River, it attracts plenty of river rafters, but also offers rock climbing, hiking and fishing," AARP's list says. "It lacks the sprawl, congestion and traffic that plague other Colorado towns and offers low unemployment and endless outdoor fun."

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