Hello! First time poster :)
I was just hoping to get other people's input regarding the downside of quitting a full time job with benefits in favor of early retirement, specifically with regard to retirement bank accounts. My hope is 'retire early' within the next year or two. I hope to still work, but as a contractor as opposed to full time.
At this time I am maxing out my Roth 401k ($18,000/yr) which I get through work, and I consider this a big benefit of my full time job. I also max out my Roth IRA ($5,500).
(We also own one rental property and plan to start collecting more in the next couple of years, hopefully as the market takes a downturn.)
For those of you who quit your full time jobs with benefits - is there anything that you did specifically with regard maintaining your retirement bank account? How big of a loss is that Roth 401k? Do you get a Solo Roth 401k?
And for the record, I am 110% percent in favor of early retirement and financial freedom, I am just looking for thoughts on the value of being able to contribute more than $5,000 into a Roth account. Or if you think that it doesn't matter, why?
Thank you!
Natalie