Upcoming Attending Investments/Salary
Curious what people think about this long term setup/strategy. Soon to be attending and trying to think more about optimization now rather than later.
Will be working in a no state income tax state with roughly 350k W2 income at an academic job and another ~80-100k 1099 income from moonlighting. The appeal to me with the gov setup is access to both a pretax 403b and governmental 457b, then using the 1099 side for additional solo401k employer contributions.
So roughly: max pretax 403b, max pretax governmental 457b, ~8% employer contribution, solo401k employer side from 1099 backdoor Roth IRA then another ~100k/year into taxable brokerage
Ends up being around ~200k/year invested total between all buckets while still spending around ~150k/year. No kids currently, no massive lifestyle inflation goals honestly. Using rough 7% real returns and 4% SWR math, seems like this gets to FI in roughly 13 to 15 years while maintaining the same spending level long term.
Part of me feels like this is the sweet spot between still enjoying life/travel/hobbies/etc while also aggressively building optionality pretty early. Another part of me wonders if I am over prioritizing tax advantaged space versus just maximizing total income at non academic places with only 401/IRA access where I can make 650-750k but probably work a little harder.
Both give me the option to retire very very comfortably and one sooner than the other. QoL is the biggest thing for me and quality time with my SO and family. Don't care too much about fancy things.
Curious how others would optimize this differently or if there are blind spots in this setup. Especially interested in thoughts from people who chose academic/gov positions partly because of access to 457s and PSLF versus going full private practice comp.
I realize this might be overkill as I am just about to start, but want to get things right.