I have been trying to figure out what the best way to go about this is.
My goal is to be in the fastlane in my late 30s or early 40s (32 now). Most advice says to max out 401ks, HSAs and Roth IRAs, but that locks the money up until around age 60 unless you pay penalties (or only withdraw contributions for the Roth or medical expenses for the HSA). I don't like that because nothing guarantees I will live until I am 60 or older.
I earn $7k/month after tax and live on $3k/month. My employer contributes 14% of my salary to a 401k whether I contribute or not (I currently don’t). Right now, I invest $1,500/month into a brokerage account because I like having flexibility with my money.
The rest of my money is used for saving and investing in my business.
How do you guys go about investing in 401ks, IRAs, etc.? Is it worth contributing to them when your goal is the fastlane in about 10 years and not financial freedom in +30 years if you are alive?
My goal is to be in the fastlane in my late 30s or early 40s (32 now). Most advice says to max out 401ks, HSAs and Roth IRAs, but that locks the money up until around age 60 unless you pay penalties (or only withdraw contributions for the Roth or medical expenses for the HSA). I don't like that because nothing guarantees I will live until I am 60 or older.
I earn $7k/month after tax and live on $3k/month. My employer contributes 14% of my salary to a 401k whether I contribute or not (I currently don’t). Right now, I invest $1,500/month into a brokerage account because I like having flexibility with my money.
The rest of my money is used for saving and investing in my business.
How do you guys go about investing in 401ks, IRAs, etc.? Is it worth contributing to them when your goal is the fastlane in about 10 years and not financial freedom in +30 years if you are alive?
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