I'm cash-heavy and have a crazy idea, looking for feedback.
-I'm 51, no debt
-$140k in a high yield savings acct.
-$230k in retirement accts.
-I max out my Roth IRA each year $7k
-My yearly expenses are ~18k plus 7k to Roth=$25k
-Net income is $22,000 from school district job and $8,000 from part-time job =$30k
-I rent (super cheap, my landlords love me) and buying is not an option right now, I live in a resort town in the mountains of Colorado and 2br condos are $350k.
-I need a healthy amount of FU money because I might be changing careers (still don't know what I want to be when I grow up) or saying "f*** it" and take a year off and play.
-The school district I work in has a Roth 401k option (no match)
Crazy Idea=For at least a year or two contribute 100% of my paycheck to the school Roth 401k and live on money from my high yield savings account. I would live on the 8k from my part-time job and withdraw 17k from my HYSA to cover the rest of my expenses.
Thoughts??