Hi,
I recently got on board with the mustache philosophy, and just read The Permanent Portfolio and Early Retirement Extreme. I have a few questions regarding self-employment strategies for saving and tax deductions.
Here is my current situation:
*Age: 30, single
*Self Employed, LLC, no employees
*Stashing 45-50% of my income starting last month
*This month I set up a Vanguard account and put 5K into a Traditional IRA 2045 and 10K into the 500 Index fund.
*My goal is to be able to pay cash for a house and live off my investments within 10 years.
My question is, would it make more sense to move 10k to an individual 401K for so I can deduct it even though the expense ratio goes from .05% to .20%? Can I actually have both the Traditional IRA and individual 401K together? Does the strategy change if you are trying to retire much earlier than 65? Thanks!