What accounts should I have to retire early?

#1

Hi Jeremy,
I’m taking your course and about halfway through. I’m not sure what advice applies to me because I’m 25 and hope to retire in 8-14 years (hopefully 8).

I own an LLC and do not have any type of W2 employment. As far as I understand, I don’t qualify for an HSA or 401k or any other accounts associated with being an employee.

My questions:

  1. Are my choices basically a Roth IRA and/or a taxable brokerage account?
  2. Should my investment strategy be more conservative than normal for my age if I continue on my projected retirement timeline?
#2

Have you looked into self-employed 401(k)s? https://www.fidelity.com/learning-center/personal-finance/retirement/self-employed-401k. I’m 22 & my strategy is fairly aggressive. I choose to take on more risk because I’m younger + have more time to recuperate downturn. But if you plan to retire in 8 years, it’s a good idea to be conservative and allocate a % to bonds or other lower risk securities.

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#3

Is that right? If Juliana has such an aggressive retirement timeline I think they will need to be very aggressive with their investments over the next 8 years to make that happen. Although I understand your logic of being conservative as you approach retirement. Not sure if it applies as much though when you’re young and planning on a super early retirement.