Well,. The show is all about financial information. Lets talk about credit and why it is so important today. Next up if you are a relationship, find out about your partner. They pay their credit cards on time, thrift with about how you can fix your credit score. First up fast credit score fixes. Its a credit card. You have to have credit in order to improve it. Consider adding a installment loan. A mortgage, student or car loan. Next. Pay down your credit cards. Keep it 30 or lower. Your balance is 3,000. 30 you should have 10,000 of available credit. Never go above 50 because it shows the Credit Agency that this person is borrowing a little too much. Consider paying twice a month. It shows your servicing their debt. Keeps you under that 30 per cent. Age of kart is important. Ran a letter to your Credit Agency. Telling them i paid it three straight years. Say you messed up but tell them should you shown at your good. Faugh i highly recommend having a good score above 700. Quinn of their credits course today. Remember this is a callin show call me. 4155618753. But go to todays winners and losers on wall street. First off facebook. Last week they had. No one made money on mobile. Not a big sea shift. Look at other Companies Like yelp and linked then to take advantage of the door at that facebook has opened for them. Next up, another winner. Amazon dachau. Theyre not adding another 5000 jobs. They are up to 100,000 employees. Lester they have 15,000 so they are really moving up labor. Its a good thing because they have the demand for products. But give you some perspective. Facebook has 5000, google has 20,000 and microsoft has just under 100,000 so amazon building up quite nicely. Another winner is a car. A lot of people are talking about apple. How about our car. Right now there is to a half Million People already in at pandora streaming to their car. Mgm is building 4 g cars sold your kart is going to be connected to the internet. In the next five years those cars will be out. But for apple and google to have a big fight over this. Look for tesla and four to look into this technology so people will buy their cars. You appear from around and your phone will be the device that pulls your music your maps everything into your car. Its just a natural correct extension going the right way. The integrated car and finally we have a loser. Cash over stocks and of longterm investments. Stocks average 9 a year but individuals are 26 percent of americans would rather stay for the future in cash. Cash will get to 1 to 10,000 you are not hundred and 10,000 over 10 years. Stock market is 9 . A sad story that americans are so afraid of the stock market is offering of real estate and so afraid of on market. This will lead to ran out of poverty, and out of that Investment Decisions and when people in retirement, that ago bigger than cash. Coming up im going to be talking with Maggie Oconnell about reverse mortgages. What is a reverse mortgage . The needed and why the need for. We will take a quick break. Welcome back. I rob black. Joining me now is an Expert Mortgage specialist Maggie Oconnell. She has worked with me for years. Lets talk about what is a reverse mortgage. a special loan for seniors. You have to be at least 62 years old to qualify and the key feature is you dont have to make Monthly Payments on the money that you are out. You can receive the money and a Monthly Payment to. The lender pays to the owner or you can get a line of credit or a very popular option is to take a lumpsum and pay off existing mortgages and get rid of mortgage payments for ever. You dont want to put up money out of retirement funds. This is a way to provide Financial Security for home owners who want to live in their home. Are darya are darya what sort of qualifications would mother need to qualify. another equity in your home. And she has a mortgage we would have to be able to with the proceeds from the reverse mortgage. The income qualifications arent there because you dont have to make payments and we dont base it on Credit Scores because we are not interested in the homeowners ability to make payments. It is very easy to qualify. Are darya are the fear i keep hearing is can my mom and dad lose their home in a reverse mortgage scenario . only if they fail to pay property taxes and homeowners insurance. Basic homeowners responsibilities. There will be able to live there the rest of their lives and not have to worry about being forced out of their home to pay off the mortgage balance. Its Owner Occupied long and as long as they stay in their home and keep up their ownership responsibilities, everything is safe. Not to worry. And did not pitch in to people who say you are going to lose your home if you did a reverse mortgage. lets take a look at who benefits from using a reverse mortgage at the top of this graphic. short. A big chunk of the senior population who have very low income. Social security and maybe a small pension. Thats a lot of our customers. They want to supplement their income as they and their home and not have to move. People who are smart and want to use money to help them stay in their home by fixing it up and making it safe to make renovations are modifications. Get rid of the Credit Card Debt and mortgage payments. Also, a line of credit to is a very helpful when those big expenses come up and you can pay off your credit cards and you will have my available when you need it for larger expenses. Also, a segment of the population may not think they could benefit from a reverse mortgage. They can balance their income from their portfolio with their income from the reverse mortgage especially if the stock market is down. You really dont want to be making it worse by drawing money from your portfolio so just let that rest and let it grow later and draw from your line of credit on the reverse mortgage. Theres been a study done that it will extend your retirement portfolio and that is what we want. Extend until the end of your life. the number one benefit i see in that exact scenario is that you can let your money compounds. Lets say you only said 500,000. Thats only about 20,000 a year until the day you die. Let that pound on a little more for a few more years. Any final thoughts. i agree with that. You hear things like reverse mortgage is a lot of last resort but what you just said to help your retirement portfolio perform. It is not. If you wait until you run out of money and then used a reverse mortgage, that might not be the wisest thing to do. And Maggie Oconnell. Clipper contact information. A lot of educational tips. Maggie oconnell dot com. She has been with my show for 12 years now. 8048909863 email her at Maggie Oconnell got, maggie at Maggie Oconnell got comp. The show you can get your question to give me a call at 4155618753. Take a break. Be [ male announcer ] with at t, youre sure to get a better bundle. Just choose the 2, 3, even 4 services you want to build the bundle that works for you. [ female announcer ] call at t now choose a uverse triple play bundle for just 79 a month, our new low price. Get the same great price for 2 years. Plus, switch today and get a total home dvr included for life. [ male announcer ] with uverse high Speed Internet connect all your wifienabled devices to your wireless gateway and save on smartphone and tablet data usage at home. With uverse tv, you can record up to four shows at once with a total home dvr and play them back in any room. [ female announcer ] so call at t now. Choose a uverse triple play bundle for just 79 a month. Thats our new low price. Youll get the same great price for 2 years. Plus, switch today and get a total home dvr included for life. Why wait . [ male announcer ] choose at t and build your bundle. Its whatever works for you. Welcome back. Rob black here. If you want any of the information from the show got me an email rob at rob black dot com. I will get it to you. People are afraid of the stock market and they should be. A limited number one. Starbucks. A great company. To make yogurt, groceries, juices, teas. Starting to split the concept of alcohol to get people for early evening. A lot of room to grow. You think it will be in business in 25 years. I do. Next on mcdonalds. Billions served. We know its horrible for you. Theyre trying to get a little bit fresher and healthier. The Company Prior to me being brought that born. Americans are not going to give up their fast food. It will go through a period for it will be under performed but i like mcdonalds. Three. A little bit more controversial Worlds LargestConsumer Payment system. I dont like dollar bills and the pump was big. Transactions are going more and more towards plastic. They arent a Credit Company so if people dont pay their credit cards that lose money. It is to the transaction on your debit and credit. Kind of like a toll road for money supply. Next up for it nike. Lebraun james. People pay 250 for shoes. Nike is a tech company at a low cost manufacturing company. Every sporting event you can think up, they are and and they dominate. It is always want to be expensive. Expect longterm performance from those four companies. In future episodes i will do more highlights and maybe some conservative place for. Make sure you to attend mondays at 11. 4155618753. Lets go to a phone call with holly. i filed for chapter 113 years ago and i was wondering how i can build my credit. it is our right. To have a bad credit. To reverse it you have to get credit. The first thing i would do. This is counter intuitive. I wanted to save money. Save some money to buy at a tv, a refrigerator or something and then go to best buy and sears and instead of paying it off fast. You pay off over time. Creditcard companies and Credit Bureaus will like it more if you have 1,200 payments than one swell hundred dollars payment. That fills us comfortable then consider going to bank rate that, and get a secured credit card. You give them 500. Maybe like a local bank then start buying things you typically would buy and pay off on a monthly basis. Have it paid off with a secured card. Those are the two best ideas as far as rebuilding your credit. Take a little bit of a bird. Coming up more phone calls and email to. Will be right back on rob black and your money. Weve got genie on the line. i will do the question and answer for her. Her question is ginny has no savings. She was wondering if bankruptcy is an option. thats a lot of people scenario. You need to start saving your money and 20s. By your 30s you should have at least 10,000. She it is apparent. She has nothing said he was the wipers of out of bankruptcy. First i would be comical. I think bankruptcy is an option for many people and should be used. Genie is a single parent. It is very important to start saving money. Dont look at bankruptcy as a bad are shameful thing. But richard dent and see what you have. There are a lot of Bankruptcy Attorneys and the cityjudge and cities that can consult with you. It is a tough process. It is a paper work incentive. But if i have 40 50,000 saved. Absolutely i would consider going into bankruptcy. It is not pretty. But you will come out of it. The at the start light in your past clear of the debt and start saving for the future but to an email. This comes from the mail. She wants to know whats the best way to learn about investing . good question. It is intimidating. I would start with the 80 its guide to investing you want to learn about investing and the best way to do it is your 401k your for to be our year for 57 per it is dont get too fancy. The idiots that the money go to your local library. 4155618753. i was wondering if you buy a new car is a better to make payments in advance. know its not. I was set up to your bank. An automatic payment that when its due for it all keep on track. By prepayment all this shows the Credit Company is bad all its showing is that reid is not going to virtue but it is not going to help you. The credit agencies want you to use the period of time they give. Thats how they make more money for it in order to improve, he would assure you have good and come and that you have the capacity to pay back to your income. Maybe some collateral on the card. Maybe money down. Just be patient. I dont think sending in prepayments. All youre doing is moving your asset to give to them as cash. International Companies Like cocacola and visa with exposure to england europe and china and parts of asia, those are international companies. The margin markets are more like brazil russia and india and china. They do business the just basically and those little sub sectors of the world. Emerging is a lot more risky than international. One says i spend every paycheck. I can say anything. Im doomed. you need to start saving. I would start with a budget. The ultimate that, for it puncheon of your bank account and figure out what your spending money on. Start cutting some of the things like restaurants out of your budget. I know it sounds simple but you have to be able to save 166 a month. Yes you are doomed to poverty in retirement. we will take a break here will be back next monday with rob black and your money. Welcome to this edition of bay area bargains. We are talking about an incredible product today. The better built improvement walk in tub. I was able to go to the home of someone who owns the tub and it changed their lives. They really needed a sense of safety and independence that the tub gave them. Before that, they had the shower and they always felt like they would san