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No Long-Term Care Solution?

A man in his late 80s, suffering from both dementia and routine falls, could no longer be cared for by his wife in their home. Their only option available was a skilled nursing facility costing more than $70,000 annually. They had a small amount of savings, a modest home that was mortgage free, a small pension, social security, and no long-term care insurance. Since he is in good physical health, he may require care for several years. The wife’s only options are to deplete her savings and sell their home, leaving her with very little security should she require medical attention in the future.

Almost universal among seniors is the desire to maintain their independence and not become a burden to their children. And yet for seniors who have made no financial preparations and then later need assisted-living or long-term care, they could in fact become a burden to their families in both emotional and financial terms – far beyond what they might have imagined. Eroding the security of a surviving spouse and depleting their children’s retirement savings are just a couple ways that families are impacted.

Seven out of 10 people will need at-home care, assisted living, or full-skilled care, yet less than 20% of people have long-term care protection. Why? Conventional long-term care insurance costs have become excessive, with some premiums even doubling in just five short years. Also, you lose every dollar you pay into it if you never need it.

But there is an exciting and affordable alternative to conventional long-term care that is available for both individuals and couples called Asset Based Long-Term Care. Essentially, you make a one-time investment (or multiple payments) and receive a multiplied amount that can be used, tax-free, for long-term care costs. If you don’t use your insurance, the amount you paid plus interest can either be left to your heirs or withdrawn by you later in life. You can even use IRA money to fund your investment.

Is Asset Based Long-Term Care insurance right for you? To learn more, contact Yvonne Marsh, CFP®, CPA, at Marsh Wealth Management at 865-662-2162 today for a complimentary consultation.

Marsh Wealth Management
1341 Branton Blvd, Suite 105
Knoxville, TN 37922
865.662.2162
www.marshwealth.com

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FC Barcelona to Host Inaugural Soccer Camp in Knoxville

Global powerhouse FC Barcelona is bringing their expertise to the United States, specifically to Knoxville, courtesy of their partner Sporting Global. The FC Barcelona camp will be held June 18-22 from 8 am to 2 pm at the Sansom Sports Complex. Boys and girls between 6 and 18 years old are welcome to the camp. As many as 15% of the camp’s top players will be invited by FC Barcelona coaches to attend a week-long training clinic in Barcelona.

FC Barcelona partnered with Sporting Global to bring this exclusive opportunity for players to experience La Masia in their hometown. The FC Barcelona Camps work with their own unique model based on the Barca methodology from the youth teams right up until the first team, with a creative and attacking style of play and an indispensable transmission of values: Respect, humility, effort, ambition, and teamwork, with proven success that that has produced world renowned players such as Messi, Iniesta, Xavi, and Piqué.

Official coaches from FC Barcelona will travel to the U.S. to conduct the training sessions in Knoxville, enriching this exclusive opportunity. The Technical Director and the coaches will work hands on with the camp attendees to teach the same technical drills used in the unique Barca style. A coach from FC Barcelona will be running specific training sessions for goalkeepers.

The one-of-a-kind world-class FC Barcelona program currently has an international presence reaching all five of the world’s continents, with more than 40,000 participants spreading across 40 countries. Sporting Global will host camps across the U.S., including Memphis, Milwaukee, Minneapolis, Nashville, New Orleans, Knoxville, Oklahoma City, Santa Barbara, Tulsa, and Ventura County. It is anticipated that more than 200 players will attend the Knoxville camp.

For more information regarding the camps and to register, visit www.fcbarcelona.us. For information about Sporting Global, visit www.sportingglobal.net.

Sporting Global
www.sportingglobal.net
www.fcbarcelona.us

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Your Biggest Financial Threat in Retirement Might Surprise You

By Yvonne Marsh, CFP®, CPA

While most retirees worry about stock market downturns, an even bigger financial threat is an unexpected health event that Medicare doesn’t cover. The average cost of home health care and assisted living is more than $40,000/year and a full-skilled care facility is more than $70,000/year. This retirement planning decision is truly a family one – if you don’t make plans to cover these costs, the burden falls to your adult children, who are trying to save for their own retirement and their kids’ education. That is not a scenario anyone wishes for their children!

Several options exist to pay for home health and long-term care costs:

1. Self-insure and rely on family members
Pros: If you never need long-term care, you haven’t spent money on unnecessary premiums.
Cons: A couple’s funds can be depleted providing care for the first spouse, leaving the second spouse with few options. Additionally, the psychological and physical toll on the caregiving spouse is significant.

2. Let my money run out and rely on the government
Pros: Minimal cost.
Cons: Medicaid requires you to be impoverished and gives you little control over the facility in which you will live. It does not cover home health or assisted living.

3. Use traditional long term care insurance
Pros: Annual premiums provide insurance benefits for a variety of home health, assisted living, and skilled facilities.
Cons: Premiums do increase over time, and it has the “use it or lose it” stigma of paying for something you may never use.

4. Asset-based long term care insurance
Pros: This is, by far, my favorite option. It allows you to reposition a portion of your savings into a type of life policy that provides a multiplied amount of your investment, tax-free, if you need long-term care. And there is no “use it or lose it” – your investment simply turns into an inheritance for your heirs, or you can even cancel the policy and request your money back.
Cons: Need to have the necessary investment minimum of $35,000 already saved, though a 10-year payment plan is available.

There is even insurance available for people who already need long-term care and are afraid they will run out of money. As a financial planner, my job is to protect my clients’ financial lives. Get started today – call my office to schedule a complimentary conversation. Your family will thank you.

Marsh Wealth Management, LLC
1341 Branton Blvd, Suite 105
Knoxville, TN 37922
865.622.2162
admin@marshpros.com
www.marshwealth.com

Financial Planning & Investment Advisory Services are offered through Marsh Wealth Management, LLC (“MWM”), an independent investment advisor registered with the state of Tennessee. Yvonne Marsh is an Investment Advisor Representative of MWM in the state of Tennessee. Marsh Professional Group, LLC is a TN registered public accounting firm and a separate legal entity from MWM. For a detailed discussion of MWM and their investment advisory fees, see the firm’s Form ADV on file with the SEC at www.adviserinfo.sec.gov.

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Marble City Petsitting

The Benefits of Using a Pet Sitter

Americans have a love affair with their pets as evidenced by the approximately 80 million homes in our nation that own dogs, cats, and other pets.  Their unconditional love and loyalty earn a special place in our hearts and our families.

Our affection for our pets is often complicated when we travel and are confronted with the choices of how or where to board them.  Our choices are a boarding kennel, a friend or relative’s home, or pet sitters.

Benefits of an at-home pet sitting service include remaining in a known safe and secure environment and being surrounded by familiar sights, sounds, smells., and routines. A successful at-home pet sitting experience is largely dependent on the quality of the pet sitter you select.  That’s precisely why local entrepreneurs and friends, Miriam Wilson and Katharine Karter, launched East Tennessee’s premier at-home pet sitting service.

“We have combined our nearly four decades of veterinary and practical experience to offer pet owners a level of expertise not often found in at-home pet sitting services,” said Miriam.  “I have a degree in Veterinary Technology from LMU, and my experience has included intensive care, emergency, teaching, radiology, kennel, and general practice. Katharine’s expertise is  in the areas of kennel management,  cat rescue, and bird care.”

Marble City Petsitting is not only unique in the love they share for your pets. Miriam and Katharine’s veterinary experience allows them to respond proactively to unforeseen situations that can occur while you’re away from home.  Services they provide include:

» Routine pet care

» Walking, exercise & playtime

» Transportation (vet, grooming, bathing, training appointments)

» Liaison (vet, groomer, bather, trainer)

» Field trips (dog park, pet store, training classes, play dates)

» Nail trims

» Belly rubs & companionship

» Puppy support : playtime, exercise, socialization, training

» Prescribed medications & treatments

» Emergency support

» The not-so-routine special care you provide and want  duplicated while you are away: Katharine and Miriam have walked dogs at sunrise, injected medications into blueberries that had to be tossed and caught, tucked dogs in with stories or Animal Planet channel, sent short clips of cats chasing a laser, walked cats on harnesses, comforted dogs who are afraid of thunder, and all that comes with pet life, from neonatal  to hospice care.

If an upcoming trip, vacation, or other plans call for an at-home pet sitter, trust the service that combines decades of veterinary nursing and kennel experience with a level of care for your dog or cat that is second only to your own.

Marble City Petsitting

865.919.4325

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Gent Heating & Cooling

“Comfort Promised… Comfort Delivered!”

By Shane Gent, Owner of Gent Heating & Cooling

The choices you have available to you when you require the assistance of a heating and cooling contractor are likely far more than you might have imagined. But if years of service, training, and experience matter – and they should – the available field narrows rather quickly.

With energy costs skyrocketing, efficiency should be your number one priority. That’s why you should select a qualified heating and cooling contractor with the years of training and experience needed to help you to achieve your HVAC system’s optimal performance.

Every heating and cooling contractor can make your home’s HVAC system respond to signals from your thermostat. But sadly, that’s the highest level of service and efficiency that many customers experience.

With 30 years of experience, Gent Heating & Cooling provides an unprecedented level of customer service that most home and business owners no longer thought existed. We are a full-service company that will maintain your system to operate at its maximum efficiency, provide fast, courteous, and affordable repairs, and replace your existing HVAC when necessary with a new, state-of-the-art, high-efficiency unit that is guaranteed for up to 10 years.

In addition to maintaining your system to operate at its peak efficiency, thereby lowering your energy costs, Gent Heating & Cooling has the expertise in replacing your old and worn out HVAC system. We offer you a wide variety of cost-effective choices, including Trane, Carrier, and Amana, in addition to the all-new comfort solutions from Mitsubishi Electric that offer incredible efficiency, zone control, and air quality. Our Bosch geothermal heat pumps offer the ultimate in Eco-friendly systems. This technology uses the relatively constant temperature of the earth (thermal energy) to provide heating, air conditioning, and hot water. Our backup generators from Honeywell can provide the backup power needed for those unexpected power failures, available in both natural gas and propane models.

Many homes and businesses today, which are equipped with older, less efficient HVAC systems, can significantly reduce their energy costs when replacing these units with today’s high-efficiency units. In fact, it’s possible to reduce energy costs by as much as 50% depending on the age of your existing unit and the new replacement unit you select, allowing you to recover your investment in far less time than you might have imagined.

If you’re tired of rapidly increasing heating and cooling costs, or if your current HVAC system just isn’t operating as well as it used to, then I invite you to experience the Gent Heating & Cooling difference. Call to schedule your no-obligation, in-home consultation today.

Gent Heating & Cooling
865.247.5092
www.gentheatandcool.com

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Pinnacle Assisted Living

“She Just Liked to Have Her Nails Done”

Family members faced with the difficult decision of selecting an assisted living community for a loved one often discover that this experience can become one of the most challenging decisions of their lives. When we genuinely care for someone that requires the additional and much needed care that is unavailable at home, we often begin searching for a senior assisted living community that is both safe and can provide for our loved one’s current and future needs.


Pinnacle Assisted Living in West Knoxville near Lovell Road and Pellissippi is Senior Solutions Management Group’s newest community specializing in providing highly personalized care for each of its residents. Their trained and experienced care staff is available 24 hours a day.


“Each member of our care team was hand selected,” said Leslee Wilkinson, Pinnacle Assisted Living Executive Director. “Experience was important, but they must have a heart for their chosen profession and for each of our residents. I would trust each of our care team members with my parents.”



Pinnacle Assisted Living, which opened last month, is a beautiful, state-of-the-art senior living community located in a peaceful setting in West Knoxville. It features a community center that provides for resident dining, enriching activities, social programs, and a variety of other activities. Amenities include large, private and companion-style suites, zero entry showers, homestyle cooking and dining, medication management, emergency response system, beautifully landscaped courtyards, housekeeping, linen, and laundry services, safe and secure 24-hour staffing, beauty and barber salon, on-site therapy, and respite care.

“The service we provide extends far beyond our physical spaces,” said Leslee. “Your loved one is a member of our family as well. We enjoy learning about your family member, because we have a heart for each of our residents. And we enjoy spoiling them.”

“One of our residents was somewhat withdrawn,” said Christina Hampton, Community Relations Director. “But with time and patience, we discovered that she enjoyed having her nails done. It was truly amazing to see how this simple gesture transformed her and lifted all of our hearts.”

“It’s been said that people don’t care how much you know until they know how much you care,” said Leslee. “At Pinnacle Assisted Living, you will discover the quality of life experience that is second only to your own home.”

To learn more, call 865-444-1451 or visit www.pinnacleknoxville.com.

Pinnacle Assisted Living
10520 Waterville Lane
Knoxville, TN 37932
865.444.1451
www.pinnacleknoxville.com

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New Tax Law Strategies

By Yvonne Marsh, CFP®, CPA

Updating financial and tax strategies are always important, but with the implementation of the Tax Cuts and Jobs Act in 2018, it is essential. The biggest change for all taxpayers is the increased standard deduction to $12,000 for singles and $24,000 for joint filers. The additional $1,250 for ages over 65 remained.

Consider grouping your itemizable expenses into one year so that every other year there are enough expenses to itemize.  For example:

Medical Expenses Itemization

If possible, have medical procedures concentrated into one tax year.  For 2017 and 2018, the threshold for itemizing medical expenses was reduced to 7.5% of Adjusted Gross Income.  In 2019, it returns to 10% of AGI.

Property Taxes

Pay two years of assessed property taxes in one calendar year.  The deduction for all taxes paid – state and local property and income taxes – is now limited to $10,000.

Charitable Giving

» Concentrate your charitable giving into alternating years.

» Establish a donor-advised fund. It is an easy process to set up your own charitable fund with as little as $5,000. Donate to it every other year to group your itemized deduction and have the fund disburse its charitable gifts evenly every year. You can make gifts of as little as $250.

» Qualified Charitable Distributions (QCDs) become imperative for those over 70½ taking Required Distributions (RMDs).  Direct your IRA custodian to disburse some portion of your RMD directly to your charity/church to exclude that amount as taxable income.

The new law also changed the “kiddie tax” rates so that investment income earned by minors will be taxed at Trust tax rates – a whopping 37% tax once investment income reaches $12,500.  You may think this doesn’t matter to you, but think again. I often see IRA beneficiary forms set up incorrectly so that a minor could ultimately inherit an IRA.  And, you guessed it – it’s considered investment income that is subject to these new rates.  Now is the time to review all of your pre-tax account beneficiary forms.

If your current advisor isn’t talking with you about these important changes, talk with us instead.  Call, email, or visit our website to schedule a complimentary meeting today.

Marsh Wealth Management, LLC 

1341 Branton Blvd, Suite 105
Knoxville, TN 37922
865.622.2162
admin@marshpros.com

Financial Planning & Investment Advisory Services are offered through Marsh Wealth Management, LLC (“MWM”), an independent investment advisor registered with the state of Tennessee.  Yvonne Marsh is an Investment Advisor Representative of MWM in the state of Tennessee.  Marsh Professional Group, LLC is a TN registered public accounting firm and a separate legal entity from MWM. For a detailed discussion of MWM and their investment advisory fees, see the firm’s Form ADV on file with the SEC at www.adviserinfo.sec.gov.

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Simple Tasks for a Better Financial 2018

By Rick Moore Macc of Financial Partners of TN, LLC

With every new year our thoughts routinely turn to potential enhancements we might make improve both our personal long- and short-term financial plans. Here are four recommendations that you may wish to consider that could positively impact your finances in 2018.

1. Define Your Goals
We all have financial objectives that we would like to act on, such as paying off debt, increasing our savings, and investing more of our income. But in the absence of well-defined and written goals, you’re left with little more than good intentions. The key to success is to establish written goals and to hold yourself accountable. Create a budget and begin tracking your expenses. Decide which debts you would like to pay down or eliminate, and then allocate the necessary resources to accomplish your objective. Finally, establish a target savings amount needed to provide for your future retirement.

2. Create an Emergency Fund
Life is full of surprises and unplanned events such as unforeseen medical emergencies, unplanned home maintenance, or costly auto repairs. To avoid taking on new debt or facing penalties from withdrawing needed funds from your retirement account, create an emergency fund. A good rule of thumb is to set aside between three to six months of expenses for your emergency fund.

3. Take Advantage of Free Money
While most of us take advantage of employers matching 401(k) programs at work, there may also be other incentivized savings programs available that you can take advantage of. Talk to your human resources department at work about Flex Spending Accounts or Health Savings Accounts. Both types of accounts allow you to save money for health expenses with the added benefit of tax deductibility.

4. Understand Your Own Human Nature
We are continually being bombarded by marketers trying to entice us into the investing our hard earned money into the “best opportunity of a lifetime” or other “ground floor” opportunities. Avoid the temptation to listen to the investment advice from family, friends, or news reports. And, most importantly, avoid the temptation to experience immediate gratification by tapping into your retirement savings. Stick to your plan.

Following these four steps can provide you with the financial peace of mind that evades many of us during our lifetimes. It’s your decision.

For more information on this and other financial topics, contact Financial Partners of TN, LLC at 865-558-8182.

Financial Partners of TN, LLC
2100 White Avenue
Knoxville, TN 37916
865.558.8182
www.financialpartnerstn.com

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, member FINRA/SIPC. Insurance products offered through LPL Financial or its Licensed affiliates.

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Success in Buying and Selling a Home Begins with Your REALTOR®

By Jesse C. Boling, REALTOR® at Exit Real Estate Professionals Network

Some people wear two hats out of necessity, but I wear three hats out of personal choice. I’ve been blessed in many ways, particularly as an entrepreneur. At a very early age, I was introduced to the world of self-employment by my mother and father. It was a fascinating, fast-paced experience for which I became enamored with. My first venture as an adult, CH Interiors & Gifts, was launched in 2013, followed by my second business, Knox Graphics & Designs, in 2017.

I learned early on first to successfully differentiate myself from the competition and secondly, to find like-minded staff who shared my vision to provide a high level of personal service often lacking in today’s business world – a level of service that meets needs and fosters trusting, lasting relationships. More recently, after having made a personal inventory of the most positive characteristics I’ve been successful at developing during my time as a self-employed entrepreneur, I came to the conclusion, along with the concurrence of several trusted mentors, that these skills would serve me well in the real estate marketplace as a REALTOR®. In fact, I recently joined Exit Real Estate Professionals Network in Knoxville.


I am committed to using my hard earned skills to offer each of my clients a level of service and expertise that you might have thought no longer existed today. By listening carefully and relying on the exceptional resources of Exit Real Estate Professionals Network, I look forward to helping both buyers and sellers achieve their individual goals. At the same time, I look forward to forging the lasting relationships that I have come to enjoy during my hears in business – an experience that has led to the creation of thousands of business contacts that I am confident will serve both myself and my real estate clients well in the future.

Thanks entirely to my outstanding associates at CH Interiors & Gifts and Knox Graphics & Design, you will continue to enjoy the exceptional service that you have come to expect, even as I pursue my real estate career. If in the New Year you are considering buying or selling a home, I hope you will consider asking me to represent you. Give me a call at Exit Real Estate Professionals Network at 865-383-3948 or my cell at 865-335-7270. I look forward to the opportunity to serve you and to exceed your expectations.

Jesse C. Boling, REALTOR®
Exit Real Estate Professionals Network

865.383.3948 office
865.335.7270 cell
Jesse.FindKnoxvilleHouses.com

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Make Sure Fido is on Santa’s List, Too!

Our pets want to be included in our family Christmas fun. Dog toys have many benefits besides entertainment to deter pent-up energy. Toys alleviate the temptation to damage household items and reduce stress, helping to prevent behavioral problems. Safety in toy selection should be your top priority.

In selecting the best toy for your dog, dimensions are important. If it’s too big, your dog will have trouble holding it in their mouth and paws. If it’s too small, the toy may become a choking hazard. Next, consider the materials and construction of the toy. If your dog is one to cuddle his toys, a stuffed toy may be the perfect complement to their personality. If your dog likes to roughhouse, look for durable materials that will stand up to their rough-and-tumble playing. Keep in mind that all dogs are different. Fido may prefer a simple ball, while Rex requires a complex puzzle to keep him engaged. It’s also a great idea to have several different toys for your dog’s enjoyment, as boredom is less likely to set in.

Dogs are “pack animals.” The bonding and socialization process is accomplished through playtime. Treats come into play also. Assure the safest, most nutritious ingredients are in your treats. Homemade treats are your best option. Only homemade, healthy treats are served to guests at Ms. C’s. Through proper playtime and treat dispersion, your dog will develop a deeper bond with you and be a happy member of your family. There is simply no substitute for companionship.

Play smart, play safe, provide nourishing treats, and above all, love your pets like family! Merry Christmas to one and all!

Ms. C’s Bed & Biscuits
2145 Beals Chapel Road
Lenoir City, TN 37772
865.986.6325
www.MsCsBedandBiscuits.com

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