Should I Kill My 401k?
I've been listening to Set for Life, by @Scott Trench. Great book! One of the things discussed in the book is how a 401k locks up part of your income, and that if you aspire to reach early financial freedom then a 401k slows you down because you cannot access part of your income.
I'm 27 years old and about 3.5 years post-college. About 7 months ago I changed jobs, and I was able to cash out my 401k instead of rolling it over to my new employer. I restarted a 401k with my new employer and currently only have about $900 in the account, so I wouldn't be taking a huge penalty hit or anything like that. I contribute $42/week, which seems pretty significant on a monthly or annual basis. Should I kill my 401k so that I can access this $42/week? Another $168/month does sound really nice, and I do plan to grow a portfolio of rental properties to support myself and my family. I have one duplex currently and I'm under contract for my second.
Any general thoughts or advice would be great!