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MAKING BANK is a weekly YouTube TV show and iTunes Podcast full of #Success and #Business with Josh.

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Summary

Did you know that the vast majority of business owners are overpaying on their taxes? Taxes are a big part of your entrepreneurial finances and if you’re not getting that right, you’re going to struggle. 

Today on #MakingBank, host Josh Felber invites Garrett Gunderson to discuss how most entrepreneurs overpay on their taxes because they don’t have a proactive tax team. He shares some excellent advice on how you can save on your taxes and have economic independence as an entrepreneur.

Garrett is the founder and chief wealth architect of Wealth Factory and he is the New York Times best-selling author of Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

So, tune-in to hear Josh talk to Garrett about how he loves to help business owners create efficient wealth strategies and financial plans.

As well as…

✔ Becoming an award-winning entrepreneur at age 15.

✔ Three life-defining moments in Garrett’s life.

✔ Awesome tips and strategies on how to not overpay on your taxes.

✔ How a chocolate milk carton house helped form Garrett’s drive to become successful.

And more…

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A-Team Financial Strategies with Guest Garrett Gunderson: MakingBank S3E3

Josh Felber:                          Welcome to Making Bank, I am Josh Felber where we uncover the success strategies and the secrets of the top 1% so you can amplify your life and your business. I’m excited for today’s guest. Garrett Gundersonn is the founder and chief wealth architect of Wealth Factory and he is the New York Times best-selling author of Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

He’s also personally helped countless business owners create efficient wealth strategies that fit their unique strengths. Garrett, I’m excited to welcome you to Making Bank today.

Garrett Gunderson:        I’m glad you got the name of the book right. I was once on a podcast, they call it Killing Scared Crows. I was like damn, that just sounds mean.

Josh Felber:                          I almost said that. I had to pause in my head for a minute. Awesome, I’m excited today. I know we’ve bumped into each other often and on here over the last, I think year or so. Excited to actually finally be able to get you on the show and pick your brain and understand, as entrepreneurs, what we can do as myself and our listeners, just by creating more efficient strategies and everything for our financial plans. But first, give me a little bit of background on who you are and how you got started down this path.

Garrett Gunderson:        I grew up in this small coal mining town. It’s so small that I took some friends there because we were out at this concert in Colorado and we were drivin’ back through Utah and I’m like where I live’s just eight miles down that road where I grew up. They’re like whatever, I’m like you guys wanna see it? So I’m drivin’ ’em through there, they’re like dude you didn’t live here and out walks this girl, Amanda McFarland, and I’m like Amanda. She’s like Garrett. I’m like see that was neighbor and they were like no way man.

My dad was a coal miner, my grandfathers, my great-grandfathers, but when I was a kid I used to just mow lawns. That was my basic mode of making money until I was 15. My dad, being a coal miner, brought home these service vehicles when the boss would come into town, clean ’em up, I started helpin’ him. My mom worked at a credit union, they’d repossess vehicles; I went to the president, started detailing those cars and I launched the most brilliantly named company: Garrett Gundersonn’s Car Care.

It really took me a long time to think of that one, but 15 years old I launched that. I won third place for the Rural Young Entrepreneur of the Year that year. The next year I won first place, and then I won the SBA Young Entrepreneur of the Year when I was 17 years old for 30 and under. I didn’t win it again being 30 and under, but I won it when I was 17 at least.

Josh Felber:                          That’s really cool, that’s awesome. You had the car detail business the whole time, all the way through, that’s so-

Garrett Gunderson:        Just til I went to college. I actually, in June of 1998, started working in financial services when I was a sophomore in college, which Josh, this is what financial services really meant: Hey bring your family and friends into our firm so we can peddle them insurance and mutual funds. I did that until the year 2000, then when the market started going down, I actually went to all of my clients and told them I don’t really know what the hell I’m doin’, I’m just handin’ this money off to someone else. You should get out because I don’t know how long it’s gonna last, and by May of 2000, all but one of my clients was out of the market.

In 2001-2002, we did 44% and 41% positive returns in years when it was down by using one strategy where they were out of the market 80-plus percent of the time and it totally changed my thinking around money, investing, and everything.

Josh Felber:                          That’s interesting, cause like you said, so many people it’s like get in this mutual fund, do this, do this. For myself, when I was in high school I was in the … How old are you?

Garrett Gunderson:        I’m 38 right now.

Josh Felber:                          Thirty-eight, okay. Just turned 44 last month, and so there was the USA Today/AT&T Investment Challenge when I was in school. I ended up investing and winning first out of 25,000 people a couple years in a row. We actually had a really cool investing class at my school and the teacher was real passionate about it. It was real fun to be around it and so always invested on and off over the years, and then put it all in the dotcoms and then leveraged that, and then lost it all.

Garrett Gunderson:        What was cool is when I was in college, the professor that helped me get all of my client’s money out of the stock market, his name’s [Stephen Herrup 00:05:06], he managed $5 billion in muni-bond funds, decided to retire and become a professor. I was a senator at the school so I met him, became friends, we started playin’ racquetball together and he donated I don’t know how many millions to the school, but I had a group with three other guys where we managed $250,000 of the school’s money and we had to beat our benchmarks to get an A in the class. It was actually one of our courses called Investments II and we took second.

One person invested in oil and crushed everyone, and then we took second so I got a B+ in that class cause it was graded on the curve. A if you win, B, all the way down to the team that does the worst, they don’t pass the class; it was crazy.

Josh Felber:                          That’s cool though. It’s awesome that he did that. In helped inspire and it makes it way more fun that way learning.

Garrett Gunderson:        We kept in touch. I think one of the coolest early moments in my life is he became a client just on a specific strategy, but I showed him a strategy and he’s like I like that idea and he became a client. It was like the biggest confidence booster for me. As a matter of fact, the only reason I even scheduled the meeting with him is my assistant said who should I be scheduling him with? It was her first day and I just gave her a list and put his name on there and she scheduled in a meeting with us. I wouldn’t have probably had the balls to do it myself, but because she did it, I met with him and he became a client, and still is a client to this day which is really cool cause that was back in 1999.

Josh Felber:                          That’s awesome, that’s so great. Tell me a little bit about what makes you different compared to what is out there cause now you see Tony’s promoting with his Money Mastery book and investing in the different indexes, but then I know another good friend of mine who does a similar to you. He’d been investing his client’s money that way for a long time, it wasn’t anything new. What makes what you’re doing different and how you’ve gotten the results for you people?

Garrett Gunderson:        We became experts in helping people keep more of what they make. Entrepreneurs have this dilemma, I call it the treadmill dilemma. They think if they run harder and faster, they’re gonna get further ahead, so they think that revenue’s always the answer. In the world of finance, what is the biggest bills they have?

The biggest bill they probably have is their tax bill, and super highly-affluent people, they have really good family offices that have accountants and attorneys that help ’em save tax. I knew that if I can help someone save tax, that was a guaranteed return. If I can help ’em find inefficiencies where they were overpaying on hidden fees and commissions, that was a guaranteed return. If I could help ’em get better interest rates, and better structures to their loans, that was guaranteed cashflow in their life. If there were duplicate coverages or costs with insurance, that could be money back in their life.

So I abandoned the commission and fee based model, and I created what I called a tuition-based, backed by results model where we said if you write us a check, so you know exactly what you pay us, and we’re gonna go and help, like financial detectives and human ATMs, put money back into your life now rather than tell you just to save more. One of the biggest distinction is we believe in cashflow investing instead of accumulation.

I don’t believe in waiting for 30 years hoping that it all works out. I think cashflow is king and we want cashflow to come in through entrepreneurial income and investment income to cover someone’s expenses, and as soon as they do that, they have economic independence, and that is our brand. We want economic independence for people, and then entrepreneurial income doesn’t count if someone has to show up to earn the income the next day. They have to still monitor it, and manage it, and be responsible for it, but it has to come in whether they show to the office the next day and investment income is cashflow on a regular basis.

So we help people, first of all, boost their profits and keep more of what they make. Second, get really strategic about how they can engineer wealth and find it through efficiency and coordination. Then third, turning on cashflow with their investments. But fourth, here’s a big distinction between me and Tony, I believe to become wealthy, you have to be an entrepreneur for 91% of the population. Why? John Bowen put a book out there that said 91% of people worth $5 million or more had one thing in common: they were entrepreneurs.

Tony says in his book it’s risky to be an entrepreneur, but it’s riskier not to be in today’s world in my mind because things are moving so quick, and we’re figuring out more efficient ways to replace human beings on some of the labor that in the past required human beings.

Josh Felber:                          I think you’re totally right, especially too, we have pro entrepreneurial administration now, is what it seems to be. That is going to, I think, help drive more opportunities for entrepreneurs whether it’s money, or tax-breaks, and things like that, which is probably gonna help you guys help your clients better too as well I would think.

Garrett Gunderson:        For sure. There’s so much in the entrepreneurial world of people overpaying tax, 93% is our assessment; 93% of business owners overpay on tax. Part of it is they don’t have a methodology, part of it is they have accountants that are B-teamers at best and they’re not really good at being proactive. Another part of it is when they hit a certain level, they need a tax attorney, not just a CPA, and another piece is just getting their books in order and proactively meeting with their tax team.

I look at three main categories; number one, business owners need to look to reclassify their income. W-2 income is the highest taxed income possible, 1099-1098 capital gains is a lower taxed rate, and so there’s ways to ship that income in how people pay themselves. The second thing is that they really need to look at how they can turn their expenses into tax deductions by connecting the story of how it benefits, or is utilized by the business, because a lot of people are afraid to take tax deductions that they don’t have to be afraid of.

Paying your kids, you know I have two kids, you’ve got three kids, we can pay our kids and that’s $6300 that would be tax-free. I can rent out my home, I can rent my home out 14 days a year to my business, that’s tax-free income to me personally, but a write-off for the business. There’s so many write-offs. Even behind me, I have clothes right here that I write off as a uniform because I don’t wear ’em around the house, I wear ’em on video, and on video podcasting, and on-stage. Most people won’t take that and write that off because accountants say they’re conservative, which really means antiquated, lazy, or reactive. Those are just a couple of ideas right there that can help people out.

The number one way to save tax is you build a tax team and you get proactive. When you build your tax team, the first thing you do is look back your last three years and see did you overpay your taxes? In 2006, two of my business partners died. I did not meet with my accountants proactively. I didn’t get ’em information; I was chaos. Then two years later I found out I overpayed my taxes $54,000, and got an amendment, and got the IRS to pay me that money back.

That happens all the time. We’ve had people get as little as $951 back from amending, but people get as much as $457,000 back from amending their returns. I wish Josh I could tell you it was cause I was really brilliant; it was just basic things that were missed, that were black-and-white, legal and ethical. But anyway, I just went off the diatribe on taxes. Hopefully helpful for the viewers there.

Josh Felber:                          I think people need to know and understand that. I know we paid our kids probably for the last three or four years every year, and it just goes in their account and stuff, it gets invested. We thought we were pretty good and then we found two things was the renting of the house, and also a captive insurance, which is what we’re rolling out this year.

Garrett Gunderson:        That’s a big reclassification of income. So captive insurance means your setting up the C-corporation, you’re setting up an insurance agency for your business, and money goes into it pre-tax. If it’s not used for a claim in the business a year later, you can take it out capital gains. That’s basically shifting a 40% tax bracket down to a 20% tax bracket; that’s a pretty big deal.

Josh Felber:                          Right. I’ll take it.

Garrett Gunderson:        There’s other things I’m not huge fan of, but they’re worth looking into. Conservation easements are becoming really big right now as tax strategies. It’s basically saying here’s land we’re never gonna develop and you can buy into that, and then all of a sudden you get major tax credits because it’s not gonna be developed or sold, so it’s a conservation easement.

There’s so many tax strategies; if you own a building, you can do something called cost segregation with an engineer, which can allow you rather than waiting somewhere between 29-39 years to take your write-offs, start getting some of those write-offs over three years, and seven years, and 10 years. I can think of multiple people, this guy Jim Arnold that when I was meeting with him, it was $30,000 a year in additional deductions now rather than waiting for 10-20 years.

There’s so much opportunity there that is part of the tax code, not even taking it off shore; not having complicated things that require thousands and thousands of dollars with attorneys and legal things. I was just on with my tax attorney and my CPA yesterday, cause I meet with them at least every quarter, but right now this year, I’m gonna be meeting with the every money because I got so aggressive at the end of last year taking all my write-offs that I’d been … Cause I bought a lot of artwork back in 2006. I bought $2 million dollars worth of artwork for $300 grand because I bought collections that I promised I would never sell on the open market and the two artists said then we’ll give you major discounts.

After three years, I’ve been able to donate that to museums and to universities. When I do that, I get to write off the full appraised value. My wife’s tellin’ me if I donate any more of the art, our home is going to start looking empty. She wants to keep everything that we have at this point, so I was like do I wanna buy more art or not because we were just sitting there talking. But the number one strategy we were looking at is a shifting of my income into intellectual property in a separate entity because if you live in a state that has high state tax, but you do business in all 50 states, you can actually setup your own, the one I’m looking at it’s called a WING. It’s a Income Grantor Defective Trust in Wyoming; that means any client that I have that’s not a Utah resident, I can filter through Wyoming and not pay state tax.

There’s just so much out there, it’s fascinating. I guess I’m a geek and a nerd for this kind of stuff.

Josh Felber:                          No it’s awesome, you can tell your passion and excitement for it and that’s so cool. I think that’s what rubs off on people when you’re talkin’ to ’em and meetin’ with ’em and everything. Do you guys then have your own team that does all this, or do you outsource those pieces to help the entrepreneurs, or how does that work?

Garrett Gunderson:        We have our internal team, which is our coaches at Wealth Factory, I’ll just give you the names. We have what’s called a financial architect, they navigate the whole process, they’re like a financial quarterback. We have wealth engineers that say how does this apply to you and your life and what’s your vision, and where do you wanna go so that the individual drives the plan. Then we have something called a results facilitator which just looks at pacing and when things need to happen, and those are internal team.

Our external team is called the Accredited Network; we don’t own their businesses, but we have a highly, it’s just a vetting process where it takes at least nine months for someone to become part of that where we have attorneys, accountants, investment advisors, cashflow specialists, every type of risk management and insurance professional. They work with our organization even though they own their own company. That way it feels like a more seamless process and we can bring what the highly affluent get with the Rockefeller style family office and bring it to the high income working wealthy that don’t have huge net worths, which are called the business owners.

Josh Felber:                          Awesome. So then they’ll have access to that whole network based on your guys’ validating who they are and we know they’re not gonna screw you, rip you off, and-

Garrett Gunderson:        We communicate with them, we train them, they were just out in January for three days of training. Basically, they’re going to communicate with our coaches and give second opinions because sometimes when people work with us, they keep their existing people because they’re doing a good job. That happens, there’s always someone doing a good job, but there’s always pieces completely missing, or pieces completely broken. Now rather than just us giving advice, these individuals can come in and get the implementation done and save people a whole bunch of time.

Josh Felber:                          That’s awesome and I think as entrepreneurs, we need to start looking at how can we better take advantage of what’s here right now, as well as hopefully with all the administrations, and some of the new stuff that they’re gonna roll out this year, will help us as entrepreneurs even more.

Garrett Gunderson:        They’re proposing going from seven different marginal tax rates down to three; that’s massively simplified. Right now, the top bracket’s 39.6%, they’re proposing going to 25% at the top and going to a 15% corporate tax. That could mean a pretty big infusion of cash and that’s, by the way, part of the reason I took so many write-offs last year and now I’m being really deliberate about tax strategy cause there’s two things everyone should really consider avoiding with taxes.

I think when I was in Cleveland, I was talkin’ to you about this; number one, don’t just spend a dollar to save 40 cents, or 30 cents; don’t let the tax-tail wag the dog. Spending doesn’t always make sense. I had a guy that called me in December after starting to work with us in November and said I’m getting the information for your tax guys and my accountant’s tellin’ me it looks like you had a good year, you owe an extra $251,000. He’s like what do I buy and I’m like what would you buy? He’s like nothing if it wasn’t for this tax bill. I’m like then we’re not gonna buy anything, we’re gonna start thinking strategy.

In his case, we just moved to accrual accounting to move it to the next year to buy us some months and we actually were able to handle all but $2000 of those taxes over the next 13 months which was really cool.

The second this is a lot of people believe deferring tax is a good idea. I think this is one of the worst ideas ever because if you defer it into an unknown future, and we have a $20 trillion debt, that reckoning might come and it’d be a higher tax in the future. So you think you’re saving because you pay less tax today, but you didn’t save tax, you delayed tax; there is a major difference. Don’t just delay unless you have a really clear and good exit strategy. Don’t spend unless you would’ve spent otherwise, and then obviously if you’re gonna spend otherwise, be strategic of what you’re timing your spending and making sure you maximize your tax deductions.

Josh Felber:                          Cool. That’s some awesome insights overall. Hey guys, make sure you play this back, take notes, and start planning. Start trying to figure some things out and ask your CPA some of those hard questions that Garrett’s talking about and see if he knows. A lot of times they’re not experts in that area. They can still prepare things for you and submit it and all that, but you need the leverage and find the right people that are gonna help you and your business, and your overall personal life either reduce or eliminate different tax pieces and find those other areas of revenue, or cash, that are just sitting there as you mentioned.

Garrett Gunderson:        And if we do giveaways, I’ll giveaway a tax guide where they can know what questions to ask their tax professional so that they can find out if they have the right person or not.

Josh Felber:                          All right, excellent. So tell me real quick, what was three life-defining moments for you?

Garrett Gunderson:        Life-defining moment? June 9th of 2006, I’m getting up in the morning to do my morning ritual and my home phone rings.I’m like I don’t even know my home phone number Josh, I actually didn’t even know what was going on, I’m like what is that weird sound? So I just ignored and then all of a sudden it stops; I’m like cool. Then it starts ringing again so I pick it up and it’s my business partner, he’s in L.A., and he says our company plane left St. George last night with our two partners Ray and Les in it, and we haven’t heard anything since. The plane had actually crashed in the Utah Lake and they died.

It was a big defining moment for me for two reasons; number one, I made this mistake of saying I’ll do everything it takes to preserve their legacy, but what I didn’t say was even if it’s at the expense of mine. For the next four months, I gained 22 pounds, I had a son that was born April of 2005, so just a year earlier, that I never saw because I got up at 5:00 a.m., drove to Utah County, I lived in Salt Lake County, so it was about an hour drive. I did a two-hour a day radio show every single day, five days a week and was trying to run an organization. We had 42 employees, yet half of our partners were gone and we didn’t fire any of ’em, and I hemorrhaged $250-some thousand dollars over that four months.

The defining moment came when, I had all the display of wealth because I’m driving to my hometown in a Bentley. Now where I grew up, they probably thought it was a Chrysler 300, but I’m driving in this Bentley and I’m sitting next to my wife and we have our best conversations on road trips. So I had been working tirelessly and exhausted. Even the day before we were taking this trip, my assistant came to me and said you’re double booked for the next hour, what do you want to do? I was like oh man I don’t … I was so exhausted Josh from just trying to keep this thing together and I didn’t even give her a good answer. I could give 100 answers right now off the top of my head, it’s a pretty easy solution. But at that point, I was just overwhelmed and exhausted.

So I’m driving in the car with my wife; we were going through this great canyon, Spanish Fort Canyon, big mountains, really pretty. I was teaching english in Korea when I was 18 and I remember that’s the place I missed was driving through that canyon. So I made a decent place to stay like great, I’m takin’ a day off for Thanksgiving; it’s Thursday, and Friday, and maybe the weekend, and my wife was telling me I’m an extraordinary radio show host, and business guy, and I’m like this is great. Then she goes but you’re just an ordinary husband and father. I was like oh damn that hurt. So that was a defining moment. Within six days I gave up one of the divisions of my organization and started to spend time at home.

It was the first time I realized, I heard a lot of speakers so you could have it all, but I didn’t ever believe it. But actually that experience was the first insight to having it all, to living wealthier, to enjoying it because when I spent time with them, I got all this renewed energy. I wrote Killing Sacred Cows in 30 days where I’d been tinkering with it for two years before that because they would go to bed and I’d still be energetic because I was spending time with my family, taking care of my health, I dusted off the damn treadmill, did some tabata runs on it, stuff like that. Kind of a long story for the first one; that was the defining moment for me.

The second defining moment was I took this assessment in 12 areas of my life. It was the Life Book Introspect Assessment and two areas said, it was my health and it was my marriage, I was average or just above average. But everything else, I was at the highest levels and it was like damn that sucks; it hurt. So I was like what am I gonna do? I figured out that in my areas that I was dialed in like business, there were certain things that I was doing every day and every week, but I wasn’t doing any of that. I had a vision for my business: one million entrepreneurs to economic independence, change their financial future and their family’s destiny, and create a legacy. I was clear about that, but if you’re like Garrett, what’s your vision for your marriage? To be a good husband. What does that mean? It was so vague.

The epiphany was I said I wanna be a premiere romantic and an extraordinary husband and this is what an extraordinary husband means. What I did was I took everything I was doing in my business and started applying the same principles of success to my marriage. I said who are the most successful marriages I know and I actually got those three couples together with my wife and I, and I said what are your best practices and will you help us through this? Then I bought 10 books on marriage; two were phenomenal, eight were okay and I stopped reading ’em.

I hired a guy named Dino Watt that had a thing called the Business of Marriage and I’m like cool, I pay attention to what I pay for and I have mentors in business, why not my marriage. So I did the same thing in my health and that was the second defining moment.

The third one was when I was in kindergarten, I’ll make it short, but I drank my chocolate milk and then the teacher said make that a milk carton house and I thought it was the most brilliant piece of art that I had ever done. The replica of my home, which was brown and the chocolate milk carton, and then she says great, I’ll give this back to you when you learn your address. The first day I dinked around, didn’t even think about it when I went home. So I came back and mine stayed on the shelf; half the class got theirs back.

The second day I actually stood on my front porch and memorized my address and I have a slight case of dyslexia, so I transposed the numbers and I didn’t get it back. Well the third day, everybody but me has their damn milk carton back and I’m standing there and when she’s like what’s your address, I got stage fright and she threw my milk carton away, and I said to myself I’m stupid.

That was kind of a driver for me to become successful to prove to myself. But I think when I figured out what really happened in my 20’s, and I realized that I wasn’t stupid, it was just a story I was telling myself over this stinking little milk carton; I had a totally different level of freedom and self expression. I had this crazy thing where one of my buddies, Gary, said just talk to that five year old person and tell them it’s gonna be okay. He made me get a picture of myself as a five year old and when I was first talkin’, I’m on the phone with him talkin’ to this picture of a five year old. He’s like a five year old doesn’t know what the hell words you’re using, those are too complicated vocabulary. I’m like shit, this is the most uncomfortable I’ve ever been and you’re makin’ me do this.

I start breakin’ down like a baby crying, talking to my five year old saying it’s okay, I got this, we’re okay, we’re straight. My wife walks out, sees I’m bawling, she’s like what’s going on? Is everything okay? She’s not used to seein’ that, so there’s three defining moments, I didn’t know [inaudible 00:26:57] people that specific, but pretty damn specific three moments for me.

Josh Felber:                          That’s excellent cause I think people resonate with that. Everybody has those different ones in their life. One of the things you mentioned though too, and we’re almost out of time, you kinda had those morning rituals. What are some of the ones that have worked well for you that have either put you on the path to success or have kept you in that space you are now?

Garrett Gunderson:        When I had my radio show, I would ask people, almost everyone on the show that was really successful had some type of morning ritual. I start typically by meditation. I just get up and meditate and that’s the beginning. Second is I have a gym in my house now; I used to go to Crossfit but my wife’s like you’re gonna hurt yourself old man, you need to stop going to that. So I have programs designed for me and I just go down and do workouts in my gym. On days off, I might do a little bit of stretching, or do the roller, or some stuff like that.

Then third, I go and write in my five minute journal, and then write a thank you note. That’s my morning ritual is to start with that. When I’m really dialed in, I might listen to something on personal development or read my book, but honestly, I get seduced into listening to sports talk radio instead of doing that half the morning, so that’s the reality of what happened even though my intentions are the other side.

Josh Felber:                          That’s awesome. So where can people find more about you, your business, I know you said you mentioned that you had a giveaway as well, so tell us a little bit more.

Garrett Gunderson:        Couple cool giveaways, wealthfactory.com/tax will help you with the questions to ask your tax professionals. You can go to wealthfactory.com, but if you want specific resources, you can go to wfresources, so wealthfactory.com/wfresources, which are everything from our investment scorecard so you can find out if an investment’s an alignment with you, to our cashflow guides for entrepreneurs.

There’s just a lot of cool, free stuff for you to get to know us and us to get to know you. But my newest book, if you want a copy of that, you can text 801-396-7211, it’s called What Would The Rockefellers Do? So you just put in the subject line “wwrd”. The download is on me, but if you want the book, I’ll buy the book. I just bought 5000 more copies cause we’re completely out, I’ll buy the book for you if you’ll pay for the shipping and I’ll send you the actual copy and get that in your hands. So 801-396-7211 and it’s “wwrd”.

Josh Felber:                          That’s awesome, that’s really cool. So we got a book, and we got some different tax questions and everything to ask, so I appreciate that and I know our audience is definitely gonna love that as well here. Maybe one last thing you wanna leave everybody with, either a life success point, or business, or whatever you feel that they really need to know here.

Garrett Gunderson:        This is key; we know as business owners that we should have an A-team. If you have A-teamers, business typically goes well. But look at your financial life and make sure, do you have full A-teamers and are you completely covered? Because Cornelius Vanderbilt had more money that the U.S. Treasury, and 54 years after he died, the first Vanderbilt died broke cause they didn’t have an A-team in their financial life.

The Rockefellers built a Rockefeller family office, which was their own A-team, and they’re on their sixth generation of that estate growing, of donating a ton of money, and having a whole bunch of wealth. Having an amazing financial team is one of the most strategic advantages I think you can have, and don’t just think that earning more solves all problems; keep more of what you make, and plug the leaks, and be more efficient with your dollars.

Josh Felber:                          Phenomenal man. Garrett, I really appreciate your time today. It was an honor to have you on Making Bank and sharing your insights. Just some definite awesome tips and strategies for our Making Bank audience, so thank you again.

Garrett Gunderson:        Thanks man, and I can’t wait to see you at the next workshop, event, or things that way. Always good to hang with you.

Josh Felber:                          For sure. I am Josh Felber, you are watching Making Bank. Get out and be extraordinary.