Retiring from Lockheed Martin? What to do with your PTO?

To use your PTO or not, that is the question. Many retirees face this issue and don’t know if they should use their PTO before they retire or let Lockheed Martin pay it out to them. How do you decide which route to take? You talk to your financial advisor and consider the following ideas.

  1. Using your PTO can help extend your retirement date and keep your health insurance in place
  2. Using your PTO can help make the transition into retirement easier by slowly removing yourself from the workplace
  3. Using your PTO can help hand over the reins to your successor while still under your watchful eye to ensure the job is done right
  4. Having your PTO paid out can provide a lump sum that can be invested or used to pay off debt
  5. Having your PTO paid out may push you into a new tax bracket
  6. Having your PTO paid out may push you over the eligibility thresholds to contribute to a Roth IRA

As you can see there are pros and cons to each possible decision. It’s important to take the time to discuss your options with your spouse and your advisor to see which will be most beneficial to your personal situation. Give us a call, we’d be happy to help!

WANT MORE LOCKHEED MARTIN INFORMATION?

Want to get better educated on Lockheed Martin retirement strategies? Then download our free report, Retire with Confidence: Top 4 Things You Can Do to Maximize your Lockheed Retirement.

Be sure and check back next week for more valuable Lockheed Martin information. Cheers!

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