rotating model around own Y-axis XNA

I'm have trouble with my model rotating around it's own Y-axis. The model is a person.

When I test my world, the model is loaded at a position of 0, 0, 0. When I rotate my model from there, the model rotates like normal. The problem comes AFTER I moved the model to a new position.

If I move the the model forward, left, etc, then try to rotate it on it's own Y-Axis, the model will rotate, but still around the original position in a circular manner (think of yourself swing around on a rope, but always facing outward from the center).

Does anyone know how to keep the center point of rotation updated?

Instead of applying matrices as translate * rotation, try doing rotation * translate