One thing to be aware of...if you take this recommended approach.
Your income really limits your investment opportunities in any Business-startup venture or Real estate property at a young age if you follow this approach and make less than $100,000. (without taking considerable business failure risks in borrowing huge loans, margins, or in big mortgages because of the impeding interest rates.)
You will have limited restrictions on these type of investment options until you reach number 6, if you proceed in this order, and if your income allows this to ever occur.
I know the recommendations are usually as follows:
1. Pay off high interest or all debt
2. Build emergency fund
3. Contribute to match in 401k (recommended for free, though heavily restricted, money)
4. Max out roth IRA (Required: $5,500 per year of your savings per year, if you can reach this. Grants: $1375 savings from the tax man, if single filier.
5. Max out 401k (Required: $17,500 per year of your savings per year. Grants: $4375 savings from the tax man.)
6. Put rest in taxable accounts at Vanguard. (which then allows for startup business or real-estate property purchases, aka complete investment freedom.)
You'll never be able to reach #6 before FI without further increasing your income dramatically. And as everyone knows, increasing you income from $35,000 to $75,000 on up, after tax per year; takes an extreme amount of effort, experience, potential required job leaps, skill set development, time, office politics, branding, marketing, selling, and further education in all frugal and investment matters, plus a considerable investment of money or time in yourself. Aka hard to do unless you work for yourself, which leads back to the " You'll need to borrow considerably in a loan to start a business if you plan on maxing out all of your tax sheltered accounts to approach FI; thus this increases your start-up's chances of financial failure."
Not everyone here is making $100,000 yet.
Another side point. Since these main tax-sheltered accounts don't allow you to invest those savings in your own business startups, (except IRA i guess through some serious loopholes and restrictions) then the only other way is to borrow from banks or lenders, and pay serious amounts of interests per year on your business startup debts. Thus adding a layer of hardship to a lot of start-up business mustachians, which can cause a considerable amount of start-ups to fail in the first 5 years. Because of the extra high interest payments required for borrowing money.
It's an almost Anti-business policy in general for frugal savers/investors inside these 401k/IRA tax sheltered accounts. (By the US government's current policies and agendas. Why is the US government so against mustachians? Because they need to tax consumer workers and thriving businesses for all their lives in order to survive....just to spend trillions most frivolously, IMO.)
So regrettably, you must count those startup-business investment options out until FI, if you follow 3-6# in order..and after you have worked 10-death years, based on your savings rate.
Which is fine, but just saying it may extremely delay your greater potential of ever creating a very very successful business startup venture until you are FI (whose age then depends on when you have the willpower to start, income, savings rate, stache, and stable investment returns to support your chosen expenses).
[Warning my Political Opinion:I wish the US Government wasn't so against Mustachians(frugal savers, investors, and job creators), tear. But looks as though they will just keep increasing income taxes, investment taxes, and consumer taxes; as they waste more money being anti-mustachian in their ways.]