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Blog

Understanding Long-Term Care Insurance

July 11, 2022

It’s a fact: People today are living longer. Although that’s good news, the odds of requiring some sort of long-term care increase as you get older. And as the costs of home care, nursing homes, and assisted living escalate, you probably wonder how you’re ever going to be able to afford long-term care. One solution that is gaining in popularity is long-term care insurance (LTCI).

Most people associate long-term care with the elderly. But it applies to the ongoing care of individuals of all ages who can no longer independently perform basic activities of daily living (ADLs)—such as bathing, dressing, or eating—due to an illness, injury, or cognitive disorder. This care can be provided in a number of settings, inc

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Changes You Need to Know

June 10, 2022

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts to be emptied within 10 years of the original owner’s death, with some exceptions. Where an exception applies, the entire account must generally be emptied within 10 years of the beneficiary’s death, or within 10 years after a minor child beneficiary reaches age 21. This reduces the ability of most beneficiaries to spread out, or “stretch,” distributions from an inherited defined contribution plan or an IRA.

In February 2022, the IRS issued proposed regulations (generally appl

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Federal Employee TSP Alert: The Winds of Change are Blowing

Linda J Black / May 26, 2022

Federal Employee TSP (Thrift Savings Plan) Alert: The Winds of Change are Blowing  

The Thrift Savings Plan has been evolving and changing since its inception in 1987. Anytime major shifts happen they are accompanied by a great deal of noise, not unlike the tectonic plates shifting and settling as announced by the provincial upheaval of earthquakes and tsunamis. 

Fortunately, TSP shifts are not quite as dramatic as earthquakes, despite the noise!  

The first thing to note is there will be a period in which no changes can be made to your TSP account while these updates are implemented. This is known as a “Blackout Period,” and is quite common with 401k’s, 403b’s, and other employer sponsored defined contribution plans.

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Linda Black ChFC, GFS, RICP, ChFEBC
101 Wirt Street, SW, Suite A
Leesburg, VA 20175
Phone 703-777-4077 Email lblack@lifemark.com

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© 2023 Linda J. Black Linda J Black | Registered Representative and Investment Advisory Representative of and securities and investment advisory services offered throughLifeMark Securities Corp., 400 West Metro Park, Rochester, NY 14623, 585-424-5672, Member FINRA/SIPC. Click here for FINRA Broker Check. Powered by Jottful