Ask Paula: Im on the Verge of Retirement and My Taxes are Rising ... Help!

Published: July 21, 2021, 9:57 p.m.

#328: Sarah O Sahara\u2019s parents sold their rentals and business of 24 years. They\u2019d like to create a trust for their grandkids with boundaries in place to avoid entitlement. How should they structure this trust?\nAnonymous in Canada has a fully paid off condo that she wants to turn into a rental once her new townhome is ready. Should she mortgage against the condo to reduce the mortgage on her townhome? Are there any tax benefits to having a mortgage on a rental?\nLuis\u2019s wife wants to start moonlighting in her field. Can she open and contribute to a Solo 401k even though she has a TSP account with her 9-to-5 employer?\nRussell and his partner want to emigrate to Canada in the near future. Should they move their investments into Canadian funds?\nRenee and her husband are in their 60s, and most of their retirement funds are in pre-tax accounts. They have federal tax credits they\u2019d like to use to move these funds into taxable accounts. Is this a sound strategy?\nMy friend and former financial planner Joe Saul-Sehy joins me once again to answer your questions. Enjoy!\n(Have an investing, entrepreneurship, lifestyle, or decision-making question you\u2019d like us to answer? Submit it here!)\nLearn more about your ad choices. Visit podcastchoices.com/adchoices