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 […]
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! […]
Why Disability Insurance is So Important
For many Lockheed Martin employees, disability insurance may not be something that is given further consideration past the group policy. However, the longer you ignore it, the less protected you may be against long-term financial risks, due to unexpected illnesses and injuries. Read on to learn more about why you need this important benefit. If […]