Secrets Multimillionaires Swear By For Wealth Management Mastery
Tax Efficiency: A Critical Component
Tax efficiency is another cornerstone of wealth management that multimillionaires prioritize. By utilizing tax-advantaged accounts, such as IRAs and 401(k)s, and employing strategies like tax-loss harvesting, you can minimize your tax liability and maximize your investment returns. According to the IRS, contributing to a 401(k) can reduce your taxable income by up to $22,500 annually2. These options are essential for anyone seeking to preserve their wealth and ensure it grows over time.