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! […]
Common Tax Forms You Need to Know
As a Lockheed Martin employee or retiree, you have many years of experience in filing your taxes but there are just as many new Lockheed Martin employees who may start filing their taxes on their own for the first time. Even if you are not new to filing taxes, sometimes the plethora of tax forms […]
How Social Security Benefits Work for Divorcées
Are you a divorcée and ready to start your Social Security benefits? Do you know how your Social Security benefits will work? If you find yourself in this situation, don’t fret, this is the blog for you. Today, we will be discussing Social Security retirement benefits for divorcées. In general, Social Security was designed to […]
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 […]