We review the Lockheed Martin 401k Plan that is administered by Empower Retirement and we discuss the different investment options such as the Target Date Funds, S&P 500 Indexed fund and other funds that are available to participants.
We touch base on different factors that can influence whether you will reach your retirement/financial goals and things to think about from an expense perspective. We also mention the “SDBA” Self Directed Brokerage Account plan option and how participants can utilize this to invest in individual stocks, bonds, ETFs and mutual funds.
WE ARE NOT AFFILATED WITH LOCKHEED MARTIN OR EMPOWER RETIREMENT. Copper Canyon LLC is a state of Florida Registered Investment Advisor. We are regulated by the office of financial regulation in Florida. CRD#286061
ALL INVESTMENTS INVOLVE RISKS. You should speak to a financial professional to find what is appropriate for your portfolio.
Learn a “rolling over a 401K here”
Learn about choosing a financial advisor here:
#401k #Retirement #LockheedMartin…(read more)
LEARN MORE ABOUT: 401k Plans
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Empower is the worst. Too much bureaucracy and their reps never give you correct information when you are no longer a Lockheed Martin employee. Rollover your 401K immediately after you leave Lockheed. Empower is difficult to deal with and their systems are archaic and they delay sending correct forms. They are too form oriented. You ask for a simple IRA rollover they send you 35 pages of forms 2 weeks after you request. UGH.
Your videos are very interesting and I always learn new things.
Thanks so much for this explanation! I do have a question. I am a former LM employee. After my division was sold to another company I decided to leave the 401k there. The 401k has grown very nicely (less than two zero zero K). I just recently joined the feds and was looking into rolling over the entire amount to the TSP. Well the folks at Empower really advice against taking the money out. According to them its in a good spot and compounding interest is doing its thing. I decided to change my investments to more aggressive and reevaluate in 6 months. On to the question(s)…
1. Is Empower a better option than the TSP in the long run? Will the money grow more if I just leave it with Empower than to roll it to the TSP?
2. I don't like the fact that I can't contribute to this plan and that is the reason I wanted to roll it to the TSP… thought?