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oday, we're discussing what to do when your workplace turns toxic and how to protect yourself from bad employers. Sometimes, you might just have to find a new job. The biggest risk to the longevity of your career is burnout, especially if you hate your job. We'll also answer questions about real estate, including buying into your building with IRA money and doing a 1031 exchange from a direct real estate sale into a syndication.

    When a Toxic Work Environment Is Leading to Burnout

    A hospitalist doctor is facing a toxic work environment due to changes in management that have led to increased responsibilities and decreased pay. The doctor is considering leaving the job, but is hesitant due to family ties and a small town location. I think this situation happens to many doctors, and it's unfortunate. When you treat docs like labor, they start to act like labor. You need to make career decisions with the No. 1 priority being career longevity.

    The doctor should consider looking for a better job while still working in medicine. Don't quit and then look for a better job; look for the better job first. This might mean moving to a new location, but it's better than staying in a toxic work environment that could lead to burnout.

    Buying into Your Building with IRA Money

    A doctor is considering buying into a soon-to-be-constructed surgery center using their Roth IRA. I'm a huge fan of ownership and think this could be a good investment for the doctor. However, putting equity real estate in IRAs introduces unrelated business income tax, which can be complicated.

    I usually try to keep the equity side in taxable accounts, but it depends on your individual situation. The doctor should consider consulting with a financial advisor before making a decision. I would recommend trying to buy into both the real estate and operations of the surgery center.

    Can You Do a 1031 Exchange from a Direct Real Estate Sale into a Syndication?

    A listener wants to know if they can do a 1031 exchange from a direct real estate sale into a syndication. Yes, it's possible, but you need to work with the syndicator to set up a tenant in common structure. Most fund managers will not want to deal with this hassle.

    The listener has a few options: they can die and have their heirs inherit the property tax-free; exchange the property for another one that is similar; or sell the property and pay capital gains taxes. The 721 exchange, which involves exchanging property into REIT shares, might also be an option.

    To learn more about these topics, read the WCI podcast transcript below.