On track to retire? Not sure? We can help. Click the button below to get a free, 100% no-obligation retirement analysis
Recent Articles on Retirement
Should I pay off my mortgage when I retire?
When approaching retirement, clients have saved a decent amount of money in their 401ks, IRAs and pension accounts. But should they use those funds to pay off their mortgage when they retire? The first task is to get your mortgage info together. You'll need to know your balance, interest rate and the makeup of your payment (principal, interest). If your insurance and taxes are included in your payment, you'll want to know that info as well. Your mortgage statement should provide you with this info. Once you have gathered that info, you'll need to make sure you know what your [...]
Did you know that $1.9 trillion stimulus might cause inflation?
Watch the 10-year and oil because inflation eats away at retirement income The current job market landscape is a warning sign of how painful the U.S. economy is for many, as over 745,000 Americans filed for first time-unemployment claims at the end of February. But then, the February employment report showed the U.S. economy added 379,000 jobs in the month. This was more than double January’s gain and the best growth since October. And February’s employment report also showed that over 350,000 jobs were added within the leisure & hospitality sector, which could point to a recovery in that [...]
What are some key considerations as you start receiving social security benefits?
As your retirement draws closer, you will probably start to have lots of questions such as: How much Social Security will I receive? When should I retire? How will I know when to retire? Do I have enough saved? What will I need to do to maintain health insurance after I retire? The answers to these questions can vary widely depending on your income, your job duties, and your assets. However, there are a few factors that everyone should keep in mind when you begin making your retirement decisions. Your Full Retirement Age (FRA) If, like many, you are [...]
What to do with your 401k if you get laid off
Although many Lockheed Martin employees have not been affected by the many layoffs due to the COVID-19 pandemic, friends, family and co-workers might have been. Another aerospace giant - Boeing laid almost 7,000 workers in late May. Feel free to pass this info along to those with questions. So for those people that might be facing a job-hunt - what should you do with your 401k before you land your next gig? You have four options for that old 401k: Leave it where it's at. You can leave your 401k at your old job as [...]
Should I increase my 401k contribution or start a college fund for my kid?
Extra money in the budget? Maybe you've been pulled over to another team and received a nice pay bump. Maybe you've paid off the fun mobile in the driveway. Either way, if you have extra funds, two options that many clients consider is increasing their 401k contribution or starting a college fund for their kids. We'll just start this discussion with the assumption that you are putting in enough money to get the Lockheed match in your 401k. There are a lot of factors that affect how clients feel about college funding. Many times it depends on how much assistance [...]
The CARES Act: How it might affect you
In March, Congress passed the CARES (Coronavirus Aid, Relief, and Economic Security) Act, putting $2 TRILLION to work to help our country and the small businesses affected by the Covid-19 pandemic. Curious on how the CARES Act might affect you? Although most Lockheed employees are continuing to work from their homes (and might not have seen a financial impact), the CARES Act does feature a few provisions that might affect employees or their families. Funds for Taxpayers By now, (depending on your income) you might have received some cash in your bank account as a result of the CARES Act. [...]