Ask Paula: I’m on the Verge of Retirement and My Taxes are Rising … Help!

<p>#328: Sarah O Sahara’s parents sold their rentals and business of 24 years. They’d like to create a trust for their grandkids with boundaries in place to avoid entitlement. How should they structure this trust?</p> <p>Anonymous 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?</p> <p>Luis’s 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?</p> <p>Russell and his partner want to emigrate to Canada in the near future. Should they move their investments into Canadian funds?</p> <p>Renee and her husband are in their 60s, and most of their retirement funds are in pre-tax accounts. They have federal tax credits they’d like to use to move these funds into taxable accounts. Is this a sound strategy?</p> <p>My friend and former financial planner Joe Saul-Sehy joins me once again to answer your questions. Enjoy!</p> <p>(Have an investing, entrepreneurship, lifestyle, or decision-making question you’d like us to answer? <a href= "https://affordanything.com/podcast-questions" target="_blank" rel= "noopener">Submit it here!</a>)</p>