Ask Paula: Should We Sell a Condo if We’re Barely Breaking Even?

<p>#336: Anonymous and his partner have a one-bedroom condo that they rent out in Pasadena, CA. The problem? They’re barely breaking even. Should they keep the condo, or sell it and make better use of the profits?</p> <p>Sam wants to know: how much of an emergency fund does a rental property need?</p> <p>Michael and his wife expect their taxable income to be less than $10,000 this year. Should Michael (age 56) take distributions from his 401k to minimize or eliminate their income tax burden?</p> <p>Shanon wants to switch to an ethical bank with values that align with hers. How can she create a framework for making decisions about financial institutions when authentic information is scarce?</p> <p>Sharon's husband purchased a property with a below-market loan in 2008. They now have an extra $4,000 per month, and Sharon wants to buy a property as a first-time buyer. They're torn between keeping the property or selling it. What should they do?</p> <p>Former financial planner Joe Saul-Sehy joins me to answer more of your questions.</p> <p>Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it <a href= "https://affordanything.com/voicemail" target="_blank" rel= "noopener">here</a> and we’ll answer them in a future episode.</p> <p>For more information and resources, go to <a href= "https://affordanything.com/episode336" target="_blank" rel= "noopener">https://affordanything.com/episode336</a></p>