Pay the income tax or Save for FI
Here's a question I have been struggling with:
Do I continue to save for retirement through tax deferred methods like a 401k, which grows my net worth 33% faster than a non retirement account? I am self employed, so there is not a company match (other than my S-Corp paying myself). However, the tax deferred retirement method does not make any progress towards FI prior to age 59.5 when the funds can be accessed without penalty. (I am 38 years old)
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Start yourself a self directed solo 401k. You can use that money to buy real estate. All expenses must be paid from that account & all profit must go back in that account. I set mine up online. I think it was 750 to set it up plus 125/year. They help you with everything each year. You have control of the check book but gotta follow the rules.