Should I Kill My 401k?

[Mark Smith]

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!

[Account Closed]

401k's are a scam invented by wallstreet lobbyists. Obviously I'm being obtuse, but the reality is that as an investor, you can make much better use of this money than it can sitting for 40 years in a financial mgmt company's account.

To hell with employer match. To hell with tax deferment. To hell with diversification. REAL estate. Emphasis on the "Real".