We need to keep up with the times. Updated online automated banking accounts, homesharing, ridesharing and rewards travel credit cards are a few of the icons that are used and enjoyed by those in the Financial Independent community. But the existing retirement vehicles, including the 403(b), 401(k), 457, IRA, and all of their derivatives, are not doing their share of keeping up with the times and the changing needs of society. They are designed with penalties for early withdrawal if one is younger than age 59 1/2 when being tapped into. Clearly, these are not the vehicles of choice for wage earners in their accumulation stage of life seeking a en early withdrawal from the traditional work force.

Sure, many people need help being cajoled into saving in a retirement vehicle or schooled on how that is even possible, but not in this community. We understand and embrace the freedom that comes with …..er….retirement, and strive for what society deems early retirement. We need a vehicle that is designed for us. One that does not penalize us for withdrawing anything from it.

What does that account look like? Let’s brainstorm the perfect vehicle that satisfies all vested parties: the individual, the IRS, and the needs of the government for its tax dollars.

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Design the new retirement plan/401(k)/403(b) for the FI community

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