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Having all of your savings in tax preferential accounts means that your probably not doing FIRE. You can’t consistently put in 30-40% and still say within 401k and Roth limits. The balance goes into different savings vehicle. This is what you collect from until you hit retirement age. Also most true FIRE people learn other skills that they can monetize. If you have enough money to just sit around and do nothing then you can expect your physical and mental health to deteriorate really fast and hard. Most true FIRE people end up taking on an “easy” job that is part time and covers the basic bills.
Life is a lot cheaper when you don’t have a mortgage or other such costs.
How about a Mega back door Roth?
Mentor
I’m 31, retiring at 36-42 depending on market and buffer needed and time until I burn out completely. Would need to do something, but wouldn’t have to work for others really.
I split between Roth (will never be taxed) and standard investments for nearer term.
What’s your net worth goal for retirement?
Pay off your house and you don’t need a full time pay check
People sometimes forget about the cost of healthcare when retiring early. It’s not cheap! That’s why I am retiring early and my husband is not 🤣. Actually he will retire early and have a BBQ business which is his dream. By early retirement I mean around 50-55
That's why you should be maxing out an HSA every year too! Use fully tax preferenced funds to pay for healthcare costs.
Yes, I’m trying to take advantage of all tax advantaged accounts. I’m planning to do a roth conversion so if I do need to pull money earlier from my Roth IRA, I can take out the principal and not be penalized.
For a normal Roth though you can always withdraw the principle without penalty. To withdraw contributions (normally) you have to wait until 59 1/2.
Mentor
Roth IRA conversion ladder, along with TLH and income minimization strategies.
https://www.madfientist.com/how-to-access-retirement-funds-early/
Part of my goal is to get into real estate investments for the cash flow.
What are these easy jobs that keep the mental and physical health going?
I managed a rock climbing gym before I went to law school. I would totally go back to doing that.
Investment property
I started early on investment property so I already have positive cash flow (age 47). Focus on paying off primary and early retirement is doable. You can still work a fun job that interests you or maybe go part time.