As you're creating more millionaires, right?

The most important thing is that people, if they have a million dollars,

doesn't mean that their account is going to save a million.

So what are some strategies to make sure that people actually retain some of the money they're making?

Because we know, depending on what state you live in,

taxes are going to cut that at least 40%.

So what are some strategies that entrepreneurs can use to make sure,

or loopholes that they can use to make sure that they keep as much of the asset as possible?

How much time you got?

Let's do it, man.

I'm writing my notes now.

You start with the tax strategy, and then I'll talk about how we advise more investment.

1,000%.

So let's say you have a million dollars in your business.

I'm going to try to help you write off that whole million dollars.

So one of the first things you can do is you can set up a retirement plan like a solo 401K.

And that will allow you to put up to $69,000 into your retirement account as a business owner, and then IRS will also

give you a $69,000 tax deduction for doing so. So you're getting a tax deduction for today for you

investing for yourself in the future. Another strategy that we can take advantage of is setting up

something called a private family foundation. Now, these are key because it's a foundation that you set up,

but you can give the money to your heirs in your family. So we can set up a private family

foundation and we can put up to 30% of our AGI, our income into this private family foundation.

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