Paula Navarrette: Liz is trying to cover up the cost of her house sale. She wants to come up with that type of cash to pay that tax, she says. But at this point, you're just trying to reduce the pain, right? You can't reduce the tax. The tax is going to happen,. So she needs to reducing the pain of the tax by covering it up in another area and making a backdoor Roth contribution or a larger backdoor Roth contribution feeds that goal. Right. Like I often find that investors let the tax tail wag the more money dog.
#409: Liz and her husband are planning to retire in 5 to 10 years. They have rental income properties, but Liz is bored of managing these, and she’s intrigued by the idea of buying stocks at a discount when the market is low. Should she sell her rental properties and use the money to buy stocks instead?
Rebecca is a high income earner and thinking about investing in a Roth 401k … but she’s scared of how much she’ll have to pay in taxes. Should she do it anyway?
Anonymous made big changes last year: she got a new career AND sold a house! Now she needs help figuring out capital gains and lowering how much she’ll have to pay in taxes … and she won’t have access to her company’s 401K for most of the year.
Kyle and his wife are moving into their dream home! What should they do with their current place?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
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