30 Financial Truths About Retirement That Any Senior Should Know

Tax-planning is complicated

Depending on the country they live in, retirees are generally responsible for calculating and paying their own income tax. For retirees, whose income comes in the form of government assistance and tax-advantaged savings accounts, it can be difficult to optimize income to pay the least amount of tax, but careful tax-planning can save you a considerable amount over the course of your retirement.