Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

These 5 Types of Retirement Income Are NOT Taxable

March 9, 2023 · Taxes
income
Image By Rawpixel.com From Shutterstock

Life Insurance Proceeds

Much like we talked about in the inheritance portion of this article, life insurance proceeds are not a solid retirement fund plan. However, it is something that you should have, and there is a high chance that you may be the beneficiary of an insurance plan payout, which will significantly impact your retirement income when it comes to receiving that money.

But will you have to pay for this extra income that ends up being bestowed on you? Happily enough, much like in the case of inheritances, you will not have to pay taxes on the money you receive from the proceeds of a life insurance plan. But this is generally viable if you end up receiving the whole sum in full, because if you end up receiving it in installments, the rules of the game may change depending on various circumstances.

Despite this, it is still good news if you know you are the beneficiary of someone’s life insurance.

Pages: 1 2 3 4 5 6

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

1 comment on “These 5 Types of Retirement Income Are NOT Taxable”

  1. Miriam says:
    March 24, 2023 at 7:17 pm

    nothing is government safe (FDIC ) even annuities pay taes when one cashes it………….can you xplain ?

    Miriam

    Reply
Se încarcă comentarii...

Nu mai există comentarii de afișat.

Latest Posts

  • social security, Social Security task Who Will Receive Social Security Payments on January 14, 21, and 28?
  • Holiday Scam 10 Holiday Tax Scams That Turn Your Ho-Ho-Ho Into Oh-No!
  • 5 Costco Products That Cost More Due to Trump’s Tariffs
  • protect your wallet from inflation 6 Bills That Changed After Trump Returned to Office
  • Amazon Are You Eligible For a Refund From Amazon? Find Out Here!

Related Articles

Did You Know About These 5 Veteran Tax Breaks?

There are special tax breaks that are available for veterans only! Whether you are a…

Read More →
tax deduction

Small Business Owners Can Get These 20 Tax Deductions Now

Would you like to have your tax bill reduced? A tax deduction, also known as…

Read More →
stealth

7 Stealth Taxes that Can Destroy Your Retirement

Net investment income tax The net investment income tax has been under the radar for…

Read More →
A graph showing the comparison between a standard deduction amount and itemized deductions for a retired couple, illustrating which option results in lower taxable income.

10 Overlooked Tax Deductions for Retirees

3. Qualified Charitable Distributions (QCDs) The Qualified Charitable Distribution, or QCD, is arguably the most…

Read More →
avoid some taxes

Yes, You Can Avoid Some Taxes With These 6 Solutions!

Benjamin Franklin once said: “nothing is certain but death and taxes.” If you don’t file…

Read More →
taxes

10 Unbelievable Things Your Taxes Are Paying For

4. Determine Whether Playing with Barbie Dolls Improves Face Recognition In 2016, researchers at the…

Read More →
income tax, change

These 9 States Have No Income Tax

Everyone wants to have their tax rates reduced. But this isn’t as impossible as some…

Read More →
property taxes

Here Are 10 States With the Most Favorable Property Taxes

4. Wyoming Average House Value in 2022: $303,325 Effective Property Tax Rate in 2019: 0.51%…

Read More →
companies credit card

15 Companies That Will Take Care of Your Student Loans

These 15 Companies Will Pay Your Student Loans: The problem with student loan debt is…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Explore

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.