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KMBZ>Audio & Video on Demand>>Life As You Own It 6.21.14 Segment 1

Life As You Own It 6.21.14 Segment 1

Jun 24, 2014|

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  1. Life As You Own It 7.24.14 Segment 3

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    Thu, 24 Jul 2014

     

    housing market found at 2:48

    see and an increasing and increasing the age of the first time home buyers . Mom and we're gonna see a difference is those first time homers commend they're gonna be buying. Smaller houses and so I think we will see is that pattern changes were going to continue to see which we've seen because the housing market . A raise in the average age of first time homebuyers and the size of that home their purchasing. Impacted already by the
  2. Life As You Own It 7.24.14 Segment 1

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    Thu, 24 Jul 2014

     

    back to school found at 4:11

    for yet it like that again it did stuff him on the back to school anywhere leave it where it's summer got a well we'll tell you where to go to get to school supplies and a
  3. Life As You Own It 7.24.14 Segment 2

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    Thu, 24 Jul 2014

     

    back to school found at 13:22

    we continuing the should stay or go on that deal. Next stop. Back to school all. What does summer ago well whenever we come back from the break we're gonna tell you with a road trip she
  4. Life As You Own It 7.16.14 Segment 2

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    Fri, 18 Jul 2014

     

    home loan found at 2:45

    paradigm shift here. Obviously for the past 34 decades if you're tracking interest rates on mortgages you'd notice that in general taking -- as at five every contain year. Average window of time decade over decade mortgage rates have typically. Trended lower lower lower so when moving up and home or. Refinancing your whatever has come along -- been -- the benefit at a lower interest rates usually it's is an additional motivate her for people that are looking at moving like -- you know we're. Seven and a quarter and my first home loan for example was eight and a quarter. And when I bought my is my next home I think I got seven or something so it was a huge. Different generate over just a couple of years period of time was when rates dipped down I was able to buy another home. For not a whole lot more money. Even those more expensive house because my interest was so much -- well. That's typically what we've seen. As a trend and people of enjoyed that now that might be changing so if you look at the Adam average rate of the past few years. Interest rates dip down to a record level on the low threes on a thirty year mortgage November 2012. And it took till about
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Automatically Generated Transcript (may not be 100% accurate)

Life as you own with mark McDougal and Craig Miller. Remember you got questions we've got answers you may not take time to educate yourself up the single worst investment and opportunity you have. That investment in the roof of your head in real estate we talked about your home financing make investments real estate we keep that in fact -- you know it's just good old fashion. -- RA IRS -- you go to don't articulate and he is Greg Miller hey Craig -- the headphones on where you put back yards. On the planet I am yeah backwards. -- -- -- you like to Wear your seat folks if you're you can watch the show -- can podcast -- CDO shenanigans were up to Craig is giving you big smile now but we are -- you won't attend I you know I thought I had the headphones on backwards. Which would mean Adam over my eyes and sit in my ears right but they've I don't know I guess drug corrected just feel it's still a lot today. So -- like to remind back a little bit yeah. -- he'll -- back if -- check -- out for the first time welcome about -- your show your your one stop shop. For everything falls under you were financial roof weather's getting the best -- on that mortgage. Whether it's deciding what remodel project you're gonna undertake or. Getting improving your credit score being a a smarter consumer when it comes to insurance so many things under the roof. On the over your financial had something like that that we are the roof over your financial had. -- are the -- ahead of your financial -- where they -- a -- -- entering catch -- catch recovered actually so we come to each and every weekend on a growing list of affiliates and we wanna give a shout out to our friends it can't be easy 980 KM BZ in Kansas City that is actually home base for Craig -- right. On that's where the show broadcasts from right at the intergalactic headquarters in Overland Park, Kansas. Bigelow who -- friends here. And doubt we want to make sure that we acknowledge her friends all the way from Alabama to Arizona to Ohio. A growing list of affiliates and -- we are proud. Too well come at each and every weekend and we want you to reach out with your questions. You can give us a call. At 800 point 24664. That's a number you can reach is on or you can email us questions at life as you own it that's questions like did you own it remember to check us out on YouTube just. Type in their -- PG what you get. We've got some of our our short will do -- tips to make a little shorter history what the whole. Show what you can podcasted taken on the road iTunes I heart radio and tune in -- all venues they carry like -- now so thanks for -- that's going to be -- showed -- -- -- -- -- Feel pretty good right -- this info into the brain ready are -- -- why Emmy -- I mean a pop why don't moan don't mind listeners if you hear -- -- -- little beef pot -- Maria calendars. Beef pot -- while we're gonna show because I like to multitask just like my friend Craig I love the multitask if I'm not due in two or three things it wants. -- -- -- It that's right and the handling your you know what when you're sleeping you do and you three things it wants to I guess so you're you're -- right -- We are halfway other pretty well it's already brought us to the end of June and argue on target to hit your financial goals. But he -- did you set any we're gonna dedicate today's show to giving you the tools you need to get your financial house in order. So when you look back come here and were all gonna be proud of what you accomplished remembered the small steps we take big -- to our goals this is about hitting home runs about hitting singles that's why we come at you each and every weekend. Where did you via print helping his some singles. And I don't have a home run stock tip don't have a home -- single tip that -- -- give you that is going to change the entirety of your financial life. But we got a lot of great information that if you listen to it if you take action on it and you will be better off than you were yesterday. -- -- Have been doing or you don't while doing well graded race to share some of the old. The music so soon and the show I was gonna take about a Popeye I guess none of them right now so every week we've got this segment for you folks it's your first time -- should he stay or should you go we have our listeners all around the country. Sending us an email or give us a phone call with their scenario question we give you the answer should stay alert but where your -- shoot you go this can involve what issued by accident ran. Refinance -- mortgage. Take one loan type over another and all sorts of other advice email us questions at life if you own it dot com that we may give your. We may give you some air time here with. -- your own and should he stay or she gets near a bill in leavenworth Kansas emailed the following -- have a 132000. Dollar balance at 5% my home is worth about a 180000. I would say that I won't be in my home for another ten years but who knows for sure. Jerry and -- on a fifteen year loan or twenty year loan act when he tears left right. Stereo -- you know he -- go all right bill injury by Iran resize as far as you know. To elaborate for bill's sake should you do fifty issued you do a Tony that's a question that you need to develop. With your certified mortgage planner that you're working with preferably certified mortgage planner. Make sure you get that trusted advisor -- your overall financial picture it may make most sense to do it as a thirty year loan. It may make more sense to do fifteen year loan when you're on something along those lines but. You need to look at your current casual situation how your retirement being funded there's lots of other factors in other than just what's my payment on the mortgage and can I swing it. There may be a better way to strategize as you take advantage of lower rate -- watch those fees and costs watch the fees and watch this weeks watch this piece of -- everytime. Which teachers are right so. Craig speaking fees why don't use you wanna jump in interest rates Gerri well let me tell you what else were to cover on the -- today -- -- they might -- all right are you a small business owner or would you like to be one. -- -- -- Okay we're gonna pick on some of view and share what it is you aren't doing those small business where it's they would -- not doing that. All of they should be doing in in fact we're going to help. You map out you or future financial success. And it's a map that all OSCON pot can follow what were small business owner or not. I'm also we've got to you know got it to don't put. The car before a house. Or an old day when you were younger Fella was always don't put the cart before the horse right -- yeah so while we're gonna talk about some -- it may be considering. -- new -- car but you may or may not have considered death. What it's costing put the roof over your heads commons we wanted to make sure you're on the right page there and how safe is your city we've got the -- Of the hundred largest metropolitan areas we've got the ten safest cities and we might even talk about the ten in the roughest neighborhoods that hopefully you do not live in -- Right now and Cragg one other item -- to talk about in in our our goal today to help you actually. The chief Samir financial goals were gonna talk about. Your retirement plans and what things you need to do to get it on the track in these are general these are general things on TV specific. Investment tips weren't talk about what you need to be doing and also share the average Jeb retirement savings by -- yeah. That people happy now on what their opportunity could be. So a lot of the show today and we encourage you reach out to is if you got someone has to cover please please please. Give -- -- hollow and move. We'll give me a Holler back go a threat are doing so Craig interest rates where they. Where they -- here's rather go to folks well what we've seen over the past week is rates have risen slightly -- we thought we -- start off the week with a little recovery mode and from. The previous week but instead we had is we kind of leveled off and then -- kind of -- at the very tail into the week. So what we do every week folks we share -- -- this national average on what rates are doing based on a 200000 dollar loan amount 20% or more equity in excellent credit obviously -- terms could vary from. Those particular specs but in general the should give you a good guideline now. There's fees -- costs that can affect the race you may be paying a lower rate you're paying a lot more fees. Maybe you're paying slightly Harry you're not paying any fees which oftentimes is the better deal it's not all about rate alone will we suggest you do every week is simple. -- elect as you on the dot com check out the break even formula. Do the -- for yourself. And decide which -- scenario as best I will give your word of warning to those of you who are paying close attention. If you call mortgage lender you referred to a mortgage lender XL Europe. Aboriginal or -- you and they got one load option their pitching. One way they're telling you should go they haven't talked about what the other options could potentially be they haven't asked you a lot of questions about your long term and short term financial goals. They haven't spent much time interviewing you so to speak with financial advisor would make sure they're giving you sound advice. You're probably talking to the wrong lender. If they're not offering a lower cost or zero cost option vs one with higher costs are modest cost that's a problem if they're not asking you. How long are gonna be in the home. How many questions about your retirement kids' college how many kids even have -- in -- you know. Long -- short term general financial goals our employment. Opportunity going forward you know all those kind of things and there's just a lot of information Asia recovers -- not cover this stuff. You've got the wrong guy on the phone or a date thirty year fixed rate folks four point 31 average vs four point -- to prior week. Fifteen year fixed 3.3 eight vs 3.2 six so again both 3015 on a slightly. 51 arms move the most three point 63 vs 3.4 one. You're just for a mortgages are creeping up folks FHA thirty year fixed three point 94 vs three point 86 across the board. We're seeing rates slightly right we'll see what happens next week but for now we're Tony the -- if it makes it. Life as you own it back in -- Yeah. Have right -- we are back like that you own it as you heard before the break those -- creek a little bit on yet. Lot of people are sitting there scratching his gun on me and also they're getting a little better before I did anything I didn't do anything other little higher listen. Do you that math make sure it makes sense make she'd been advised well and we make sense and it's something to a decision take action. -- the volatile market right now the stock market has some great runs and then all have a sell off today there's days where. The bond markets feel on the the -- the stocks are getting and then other days they're both data mean it's it's it's hard attract folks we would have we have no crystal balls anyone tell you -- -- -- rates are going. Doesn't. So. As a -- put a break if it makes sense take action get locked in if you're on a contract to purchase in the next 3060 days I'd be locked in that rate. All right let's talk some little bit of financial planning your folks just if lot of our listeners might be a small business owners may be get a maybe get a part time business you you work next from the side make little extra money. Till one day you can transition over the top. On there are some -- startling. Startling data there reds in success magazine. Just couple days ago and we're gonna jump right into it and that the tips we've gotten those you that are our business owners really. These apply to all of us. That. 66%. Of small business owners have never consulted with the financial advisor now I'm gonna -- That all of -- should be consulting with -- financial advisor now many -- may choose to go would it go it on you know. Go your own way may -- do it yourself. Not from others argued just star -- You'd let in on the rock and then there -- some view that every chat professionals to to get advice you can now work on a strategic plan. But I'm Tony folks if you if you keep your own your own business. And you. And you haven't consulted a financial advisor -- then the chance of success is probably going to be. Crippled at the least to say the least I'm about 30%. Have not estimated how much money they'll need for a comfortable retirement. Only about 25% have a formal financial plan and understanding of where their income. Will come from IE Social Security savings pension etc. for retirement and only 15% have a written. Plan to transition their business when they retire these are startling numbers folks in your business owner you fall in this category please. Take action regardless the size your business ditch your affairs in order because you probably. -- you don't have as much fall back as someone that is employee Europe Europe you've been your own boss for a number of years. On the end and you run that that company or you choose not to run and into a fashion and enables you to continue. And might be little tough for you to -- -- -- gain full employment can replace that -- -- number one. What are some of the considerations US business owners and does as as those -- our business owners meetings are a number one is you know it's the roof over your head. -- -- whether you worry sophisticated. A consumer and -- richer renting or owning your home as we understand investment realistic can be a great investment. On the but if you want to ensure that you are mapping out your financial future make sure as you start a business or you continue that this is understand it. On the the what the value. On and the real cost of homeownership is on you looking at it like a business is a part of your business that are real equity that you may achieve through. Responsible homeownership. But as a business owner and no -- if you're working out of your home you've got opportunities to save there's some tax efficiencies there. But also know that if you are going to count on. On your business to fund you were living which include sure home you've got insurer that it is not that one. Does not impede your ability to -- the other he got less margin for error as the self employed person. But as you may not have those deep well preserved and tapping into that home equity at a time when you need -- it's. Can be challenging if you now laid up ground -- in advance Terry. There it is in -- should he stay or should you. Oh yeah write books are from. -- in Atlanta Georgia called the following question. Have a low credit score I'm told it was 583 Avalon right now that was an adjustable rate. And the rate is at nine point 5%. Terrible. That's what she said not me I'll agree -- nine knowing need to refinance but I only oh about 92000 and the one -- I found that will work with my -- Wants to charge me about 3500 these loans that seems high I don't have plans to move anytime soon should I refinance or not. My brother Greg. -- cheese to go she's refinance for sure she's an extremely -- however those are extremely high fees consider in the loan size. There are lenders out there who worked for the 580 or higher credit score they are few and far between it is hard to get approved for those programs expect it to be a little bit of -- hoop jumping process. And in -- in fact it may not ultimately work out you -- have it's you know strap yourself in for this one however. If you fell one -- that would do it there is potentially another. I would put them in a competitive situation against one another. And -- if you can get one get a -- to X ray over 37 earn fees and somebody else may do at that rate for 2800 words or 25 or whatever. But the costs are gonna be high but you're gonna save a ton of interest depending Hillary you're getting you didn't say there. I'm assuming you're getting a raid under 5% you're cutting your rate almost half there be no reason why you wouldn't ultimately save my field in the. Obviously stay. And not refinance -- thank you really need you first. Music here I got a call I need to stay until you get that credit cleaned up well 583 near your right. A 640 is gonna be a meaningful difference your interest rate so even in the researching them with credit resurgent and on saints stay. Did that did the real work done because -- a -- 83 -- I apologize but you got some crap on your credit and whether it's about if it's not -- you can get it off easy it is valid. You need to clean it up before you consider investing in any financial transactions because that's gonna hurt. That's hurting your barring rates across the board. You can get it to 640 if you if you buckle down and you do that things and it might be one month might be three months might be six months. Bye you be able to get her to a 640 and I can read between lines -- Ava. And that is what I see is -- someone who obviously did alone and adjustable rate mortgage sometime and that's a sub prime loan. Possibly obviously she's probably had bad credit for -- team Manny got wet and I'm saying -- but -- listen to this show for a reason right as you wanna get your house in order take the steps get the credit cleaned out yeah I just don't know any sort of reports that you do need to talk to somebody about that he can be done. But it sounds like gave has been on. A little bit of a losing streak -- comes or credits where he started out -- you have a navy -- and a star rated 3.5 percent it's just about now five years zero nobody has suggested that show he had a financial. Sat back several years ago so not yet -- yesterday's meeting of the sub prime loan. Ali is there's no united -- arms out there and the sub -- so right David that this could be needed to call us and ready to infect any -- in Atlanta Georgia are anywhere else yeah like in this country. Before you sign on the dotted line you'd call us you know let us take a call graduation at army give Mariah again glimmering I did everybody -- -- I'm hiding call 800 point 2466 or ask for mr. Miller that matter what state you're in -- need some advice to -- a quick fix about Craig time. He'll get a -- it just delivering the message he's happy to help us our right so. Where Rory mapping your future number one is you know -- living arrangements whether you're renting or -- understand the financial responsibility budget for it. And day and realize that there is an opportunity to gain equity in your home just like there's not to gain equity in your business. If you have a financial plan associated with -- but I was at a business owner. -- got to instant anonymous -- know when you might need to tap into that equity. On and make sure the you've -- the ground work in advance ideally you won't have to but sometimes. A little forethought can go along way if a crunch time comes on your business I'm all right number -- was a big and we talk about all the time is. Paying for college. Many of either -- small business and those of you that that don't you're not. You're not considering what it's gonna cost to put your child through college -- not saving now for that. But folks look at 200000 dollars -- the got a kid 789 years old. Gonna be going to college and eight or nine years. There's a good chance you any pain around 200 -- -- to get them through four to five years of school -- probably my -- K seven years of school this is they -- bachelors yet that would be pretty advanced degree. Seven and ending Craig nice case seven years of junior college right so make sure that you do you do the you do the ground work now. OnStar sitting -- 2529 plan works and alternative. Plan you're gonna save. For your kids college but budget come up what's it gonna cost budget go here's a got to save. In X number of years to get there -- don't get -- -- gonna interject one thing and object in energy folks have this conversation with your kids at the age of nine and older and have it on an annual basis or every six months or so sit at a revisit. Talk about their future talk about college if you're small business that are used to managing things you're teaching the values of being an entrepreneur and business in order to your children. Also educate about what their colleges are gonna cost and explain to them their responsibilities. If they understanding grasp it don't just. Going to without being prepared you'll be better off. Back if you like --

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