Q&A: We Want to Save Senior Dogs … But Should We Sell Our Rental to Do It? - Afford Anything Recap

Podcast: Afford Anything

Published: 2026-01-06

Duration: 1 hr 9 min

Summary

Paula and Joe discuss whether a couple should sell their rental property to fund a senior dog sanctuary, exploring various financial strategies.

What Happened

The episode begins with Paula and Joe discussing a listener's dream of starting a sanctuary for senior dogs. The listener, who they name Victoria, is considering selling a rental property to fund this dream. Victoria and her husband are about to pay off $100,000 in debt, and they are exploring financial options, including selling their property, refinancing, or buying a business. Paula and Joe weigh the pros and cons of each option, with Joe leaning towards selling the property to gain immediate funds and Paula favoring refinancing to maintain a 9% return on investment.

Paula emphasizes the importance of seeking outside funding for the sanctuary through grants and donations, rather than relying solely on personal finances. Joe advises against starting a completely new business due to the risks and time commitment involved. They both agree that Victoria should prioritize building her retirement savings once the debt is cleared, and suggest she explore conversations with animal rescue organizations for insights.

The episode also addresses a question from a listener named Gwyneth, who is planning Roth conversions. Gwyneth is on track with her retirement savings, having an equal balance across taxable, traditional, and Roth accounts. Joe and Paula discuss strategies for managing Roth conversions and emphasize the importance of maintaining tax-efficient plans.

Lastly, Seymond shares his plan to take a year off work to go backpacking, aiming for tax advantages during this period. Paula and Joe support his adventurous goal, advising him on how to manage his investments for this sabbatical. They stress the importance of not letting financial optimization overshadow the experience and encourage Seymond to enjoy his journey.

Throughout the episode, Paula and Joe provide detailed financial advice, addressing retirement planning, cash flow management, and the balance between pursuing dreams and maintaining financial stability. They highlight the value of strategic planning and the potential for outside funding in achieving personal goals.

Key Insights