TimothyMobley

A significant part of my practice at the Baron Group is helping families get out of debt. Without a doubt, being debt-free is not only a requirement for financial freedom but also in most cases what is needed to be able to achieve financial goals and be able to retire. The unfortunate reality is that so many of us, even the most financially disciplined ones are forced at one time of our life or another to take on debt due to unforeseen circumstances, very often urgent, such as job loss, medical emergencies, funeral expenses etc. And once there is too much debt we all know what happens – higher interest rates which then make it difficult to repay, inability to take advantage of the current lower interest rates environment in order to refinance a home mortgage for example… and it really becomes a vicious circle that it is difficult to get out of. However, if getting out of debt is approached with a methodical plan which is followed diligently, then being debt-free could beco...

My last blog post 7 Threats To Your Retirement When All You Have Is a 401(k) Plan generated a lot of interest! It was my most visited blog post to date and for that I thank all of you who follow my blog. I sincerely hope you find it useful. Still on the topic of 401(k) plans, you may or may not know that as of July 1, 2012   The Department of Labor, in an effort to improve transparency of 401(k) fees, has released a final rule which will: “ help America's workers manage and invest the money they contribute to their 401(k)-type pension plans. The rule will ensure: that workers in this type of plan are given, or have access to, the information they need to make informed decisions, including information about fees and expenses; the delivery of investment-related information in a format that enables workers to meaningfully compare the investment options under their pension plans; that plan fiduciaries use standard methodologies when calculating and disclosing expense and r...