Ten Fascinating Statistics About Baby Boomers
If you are close to retiring from Lockheed Martin and are looking forward to the next phase of your life, you might be a Baby Boomer. What is a Baby Boomer? Baby Boomers are the generation that was born after the end of World War II, in the years between 1946 and 1964. Once the […]
Lockheed Martin Spouses and Their Social Security Benefits
Ladies and gentlemen who are married to or were married to a Lockheed Martin employee, this blog is for you. Today we are going to be discussing your Social Security benefits based on your spouse’s or ex-spouse’s income. Let’s start by reviewing the eligibility requirements to receive spousal Social Security benefits. You must be at […]
Can a Lockheed Martin Employee Draw Both Social Security Retirement and Social Security Disability?
As a Lockheed Martin employee, you have worked hard for your future retirement income. That income is typically a combination of your pension, 401k distributions, and Social Security retirement benefits, of course there could be other streams of income as well, but those are the most common. As life happens, it’s possible that you can […]
How Earned Income Affects Lockheed Martin Employees’ & Retirees’ Social Security Benefits
Are you still working and ready to start your Social Security benefits? Do you know if and how your Social Security benefits may be affected by your earned income? If you find yourself in this situation, then this is the blog for you. Today we will be discussing how your Social Security benefits could be […]
Social Security and Income Taxes
Retirement is an exciting time. You’ve worked all your life to enjoy the last few decades collecting your Lockheed Marin pension and your Social Security. You may have also been looking forward to a change in your tax bracket. If you can relate to this situation, then this is the blog for you. Today, we […]
Roth IRA Eligibility and the Income Phase-Out
As you continue your career at Lockheed Marin you are hopefully saving and investing for your retirement. One way to save is by using a Roth IRA, which provides tax-free growth; however, whether or not you are eligible to save into this type of account will depend on your income. Keep reading to find out […]
What’s the Difference Between a Transfer and a Rollover?
If you’re saving for retirement and getting ready to retire, you have probably heard people talking about rolling over their 401(k). A rollover is how you get your funds into your IRA! These terms are often used interchangeably, but they actually mean different things. Let’s talk about the differences. There are important distinctions between a […]
Should Crypto Assets Be Used in a Retirement Portfolio?
As the world shifts and changes, so does the investment market and how you plan for retirement. Lockheed Martin is made up of hundreds of thousands of employees ranging from just starting their career and receiving their first “real” income to those who are on their way out to enjoy retirement. One thing that all […]
Social Security Taxes to Continue After Full Retirement Age
Everyone, including Lockheed Martin retirees and current employees, must make applicable Social Security contributions on income, even if you are working past your full retirement age. Working past your full retirement age may also increase your Social Security benefits because Social Security contributions continue to be paid. You must be care though, because continuing to […]
Avoid Income Tax? How to Use RMDs for Charitable Giving
Are you a Lockheed Martin employee or retiree who is in the stage of life where you now have Required Minimum Distributions (RMD) from your tax-deferred investments (IRA, 401k, 403b, 457, etc.)? Did you know that you can avoid paying income tax on your RMD by donating it directly to a charity? Yep, that’s right! […]