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KMBZ>Audio & Video on Demand>>Life As You Own It 2.1.14 Segment 3

Life As You Own It 2.1.14 Segment 3

Feb 1, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

All right folks we are back life as you -- it's. It's stuff marked on the. Last segment we want to continue I'll put those mentioned before we went to break in that is. Retiring perhaps. Are you thinking about downsizing you're thinking about moving into one of those maintenance provided villains. There's a lot of considerations as you get a little older in your ability to take care of home is not quite the same used to be. The expense of take your bigger -- -- you need all those kind of things come into play. You got to speak in -- retirement on -- and -- article off Bankrate dot com but that is not the six worst cities for CD rates. Now folks are gonna give these cities and if you live and one of them. I recommend you consider a bank not in -- say. It's OK number we got caught on here we've got to at Pittsburgh average one year CD rate is guess what Craig guess what point zero. Four point 13 that's assuming a minimum 101000 dollar. Investment point 13101000. Dollar CD. And -- not Chicago point 16. Was bankers are -- and rich in Chicago -- -- Cleveland point 17 there. We've got. Mil one day point 17 there's that the common theme here isn't there the cities are fairly closely and then up. We jump out to Seattle is point 17 also. So folks understand and then last is Detroit point 18. I five or six -- the -- -- -- That's it folks the earlier those your six where you need to make sure that you get with a saying it may be has a footprint in other. Locations because. Though will agree and we know that. That the yield on and -- O'Neal has might -- point 26 or point 27. And it doesn't seem like Koch has not a whole lot more than I'm getting. Well it's thirty to 40%. More than these cities are averaging it's double what you'd be getting in would we say. Was our first and -- isn't I think it was or. Hoboken or some get some like that. Poughkeepsie Pittsburgh point 13 that's what it all right you Pittsburgh bankers should just brought it ago. The -- how do you sleep at night parts of folks if year if you are before that. Very meaty interesting tidbit mark shared low excuse I don't it was -- -- and very interest to do is those mark just like you are so you going bad news these by. Folks that are saying hey it's time I looked into perhaps what I'm gonna do for Mike. Final home or at least retirement home yeah and some people have a very clear cut plan -- -- financial position anyone who get. You know sunny Florida by their retirement home and play golf and relax in the good weather well he's a Smart. The reality is is that not everybody's in that position and what I find just as it it just as happens when people were purchasing a home oftentimes it's an emotional decision. Same comes that -- say in the same -- for people who and the time comes to sell the struggle with it from an emotional perspective I talked a lot of folks that are retired already. Who say you know we just love our home or close to friends and saying only we've been here for 25 years and we just can't imagine packing everything up and move -- did that to them with the kids still to come home for Thanksgiving. All those things on the table and I appreciate respect others -- those bullet points at this year it may but the middle of the financial picture we say but. You need to sell your house. So folks by encouragement as we wrap up show today for those of you in this position you're contemplating what your retirement going to be like where you're already retired in -- looking at maybe. Doing a reverse mortgage which were gonna speak about reverse mortgage is next week on the show make you tune in for that. Just take the emotion out of it as best you possibly can't make it into -- business transaction you're gonna be okay have a roof over your head but if you wait too long. And you drag it out it's gonna cost you money and make your retirement that much more crunch potentially so. Make your move when it's time to make your move in based that off a financial figures and facts not your feelings there you -- out. Our folks next weekend on life visual on it a touch on -- sometimes -- a confused beast. That is the animal that is reverse mortgages and I should say I say it's not a confused peace -- many people are the perception. They look at it like I can't. One that if they're not careful may. -- -- -- -- -- -- He's got a little more dramatizing and I don't for a bite their arm we won't -- the -- office sometimes people have this perception that reverse mortgages or bad thing. I'll tell you that then they are they can't be -- -- you tune in next week you will be an educated consumer and you may choose to follow that path. Of the reverse. Mortgage. Why did you own it remember to state that --

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