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Your email address will not be published.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.

Search

Latest Posts

  • IRS refund Tax Refund Alert: Americans May See a $1,000 Increase in 2026
  • Are You a Homeowner? Here Are 5 Trump Tax Bill Changes That Could Affect You
  • social security The 2026 Schedule of Social Security Offices - What You Need to Know
  • snap Amazon Refund: How Much You Could Receive
  • amazon prime, money Here's How to Get Your Refund From Amazon's $2.5B FTC Settlement
  • social security, Social Security task Who Will Receive Social Security Payments on February 11, 18, and 25?
  • 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!

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

IRS refund

Tax Refund Alert: Americans May See a $1,000 Increase in 2026

Seniors and Retirees Age 65 and Older Older Americans may also benefit from a new…

Read More →
social security, Social Security task

Who Will Receive Social Security Payments on February 11, 18, and 25?

Tips for Beneficiaries for February 2026 If you receive Social Security benefits, here are a…

Read More →
tax deductions, change

10 Tax Deductions to Benefit From if You’re Self-Employed

As a self-employed person, you must handle your own taxes, or you can hire an…

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 →
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 →
tax

7 Random Things You Will Get Taxed For

4. Stolen Property If you staged an at-heist last year, embezzled money, or robbed a…

Read More →
retirement

10 Ways to Cut Down on Taxes in Retirement

Retirement is meant to be easy, but with inflation rising, the overall situation is more…

Read More →
tax breaks for homeowners

7 Tax Breaks for Homeowners and Home Buyers

Owning a home is a key part of the American Dream. Whether you fancy a…

Read More →
income retire stealth

10 Types of Retirement Income Tax You Need to Know About

Life Insurance  Any kind of proceeds you might receive as a beneficiary of a life…

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.