Build a Tax-Free Life: The Billionaire Tax Strategy Explained with Tom Wheelwright

Yes, we're here. What's up, Caleb?

Hey, it's a pleasure to be in here, Ellis.

Hey, guys, we have an awesome session. I know we're going to wait a couple more— a minute or two as folks are coming in from Jim Doo's last session. We've kind of entered into the tax part of this summit. Incredible content. We have another amazing, amazing speaker who is nationally— Kev, I'm gonna let you in a minute actually introduce him, 'cause you've known him longer than I have. But before we do that, I have another incredible guest who is delivering tremendous value to our summit attendees. And I said, hey man, he was actually generous to just, he was supposed to be in Europe. So I'm like, okay, you can't speak. But he's like, hey, we're not going to Europe anymore. I'm like, well dude, come on for just a few minutes. And share with the audience on, um, you know, who you are, what you do. And then he's got some tremendous bonuses. So Caleb Williams, everybody, Better Wealth. Uh, Caleb, welcome to the summit, man. Talk to us.

Hey, hey.

So first of all, Ellis, thank you so much for getting my last name right.

It's, it's a long time. I've had a lot of, I've had a lot of hard last name.

It's a hard last name. So I'll, I'll make this, I'll make this quick and I'll also introduce Tom because you guys are in for a treat. When it comes to saving money on tax. But overall, my name is Caleb Williams. I run BetterWealth.com and it's a virtual financial planning arm that helps entrepreneurs in all 50 states where we do lots of different things. But what we're most known for is our ability to structure life insurance. And so those of you that have heard of different strategies like infinite banking or what would the Rockefellers do or max-funded life insurance, you know that it can be a very complicated strategy. There's a lot of people on TikTok and YouTube and speaking about it. And to be quite frank, Ellis, a lot of, a lot of the times it, it gets a little bit overhyped, but it can be a very powerful strategy to store your money, to save your money, to protect your family, to use it to invest in other assets in your business. And so that's, that's really like the unlock that our clients have is they, they don't see life insurance as an investment. They see it as a place to save, protect, and use their capital throughout their life. And so that's really the unlock. This is— I've been doing this for 7+ years. And actually, it's fun because this book, which I'm giving to every single person that takes advantage of your guys' offer, this book has 20,000 copies sold, which is nothing compared to what Tom Wheelwright, who's coming after me, has sold. But for— but it just tells you that the simplicity of what we're making this message. And so one of the things that we're doing is we're not just giving away this book, but we are giving away a copy of What Would the Rockefellers Do? But that by my friend Garrett Gunderson and what he wrote, and a book, Live Your Life Insurance, that my friend Kim Butler has also written. We're giving all three of these books away along with our vault of resources, along with the ability to do policy reviews for those of you that have life insurance and want to see like, is this properly designed and set up properly? Or if you ever want to understand and see your numbers and see, does this even make sense? We're allowing anyone who takes advantage of the offer to do a free consultation with our team to just, just see all of those. And so we're a big fan of education is power, especially if implemented. And, and so I just, I'm a big fan of what Bob Fraser and Ben Adler have written. I actually had a chance to read the book before it was published and give, give an endorsement blurb. And I'm not just saying this because I'm on here. It's— it is the book. If you are— if you want to understand the framework of how to invest in alternative assets, it's such a powerful book. And so it gives frameworks and all. And I very much see what we do as a bolt-on to, to the message that, that Bob and Ben have written about. And so, Ellis, is there anything else you want me to say before I introduce Tom?

Yeah, no, incredible bonuses. All of those are already in the portal. Once you go and buy the 10-book bonus bundle, you'll get an invite to the portal and all that Caleb has already, um, he's already delivered that to us. And again, I didn't even know you were doing the consultation. I mean, that's huge. You're not even— there's no—

that—

it's not a pitch. You're saying, hey, we want to review, because most people probably have a life insurance product that they don't— it was just— it's probably not optimized. It's probably not taking advantage of the end asset concept. And so you're saying, hey, we'll, we'll do that.

That's huge.

That's, that's— I don't even know the price that you would— you could charge for that. So I think that's incredible. Um, thank you so much for, for doing that, and so grateful to have you on. Dude, will you do the honors of, of introducing Tom, for us.

Yeah. So I didn't know I was going to be speaking right, right before him. Tom, this becomes maybe a regular occurrence over the last year. But for those of you that have been impacted by Robert Kiyosaki, Rich Dad Poor Dad, I don't know if there's a way for people to interact, but if you can put in the chat if you've read that book, if you've been impacted by that book. I actually had the honor of meeting Robert for, for the very first time in person, thanks to my my good friend Tom Wheelwright recently, and I got to share with him firsthand the impact that he's had on my life. Well, Robert endorses one person when it comes to tax. He works with one person and has actually traveled around the world. And that's— I can say I'm an international speaker because I spoke in Canada and Mexico once. Tom, you've spoken around internationally more than once, all around the world. Have some funny stories there as well. Um, and, and overall it's just been, I got to share with him, like, it's been an honor. And, and then in the last year, or actually in the last 2 years, I've had the pleasure of really getting to know Tom. Um, I read your book, Tom, multiple years ago and it really opened my eyes to the power of tax planning and like even reframing it from being scared of the tax code to seeing it as a treasure map. And, uh, you have very much inspired me to take control of how to think about taxes and we've, had the pleasure of not just becoming friends, but I've had you speak at, at my events in the past and very much am a follower of what you do. And so buckle up, get your pens ready to take some notes. And this, this one session is going to save you guys a lot of money. And so it's my honor to introduce my good friend Tom Wheelwright.

Let's go, Tom. Get over, Tom.

Let's go.

Give him a check.

Thank you. What, what, what could possibly be What could possibly be more fun than taxes? So, so great to be here. Thanks to Bob and Ben for this important message of working, really investing the way billionaires invest, because this is the way billionaires invest. This is the way they do it. I've worked with billionaires and this is truly, truly life-changing. And it all starts, frankly, with Rich Dad Poor Dad. But I'm curious how many of you would rather not pay tax if you could not pay tax? I mean, either put it in the chat or just say, "I'd rather not pay tax." Just shout it out, because here's the reality. The reality is that you're paying tax voluntarily, and sometimes you're paying tax because you just don't know that there are ways to pay a lot less tax. And today, we're going to discuss how to pay a lot less tax and how to actually pay less tax because of how you invest, how to pay less tax by investing like a billionaire. So, it's actually investing like billionaire doesn't just increase your rates of return, increase your wealth, it also significantly lowers your taxes so you have more money to use to increase your wealth. So, just a little of my background. So, I grew up in Salt Lake City, Utah, so I spent a couple of years in Paris, France, as a Mormon missionary, learning how to get rejected in French. And a tremendous opportunity. And then I, uh, did my undergraduate work at the University of Utah in Salt Lake City and my graduate work at the University of Texas. I spent 7 years with Ernst Young, one of the largest CPA firms in the world, including 3 years in their national tax office back in the Ronald Reagan days. So yes, I am that old. And, uh, and since then I was the tax advisor in-house for a Fortune 1000 company in Phoenix, Arizona, and I was, um, an adjunct professor for 14 years in the Master of Tax program at Arizona State University. So I've done a lot of that. About 30 years ago, I started my first CPA firm with the idea that I love entrepreneurs and I think entrepreneurs deserve better tax advice. And, uh, one of the biggest challenges that entrepreneurs have is they're very good at making money as entrepreneurs. They're not very good at saving money on taxes, and they're not so sure about what to do with their money. And so it was those two things that really got me to start my first CPA firm. We grew that, we sold it, we started a network of CPA firms. Now we have a franchise of CPA firms, tax advisory CPA firms around the country, uh, called the TFW, or Tax-Free Wealth. Um, a Tax-Free Wealth Advisory franchise. Now, during that 30 years, I met Robert Kiyosaki, and, um, we connected right off the bat. And over the last 20 to 30 years, we have traveled on 6 continents, 30 countries, and, uh, I get to learn the tax law of every country I go to, which is fascinating to me. And One thing I learned is that they're very similar from country to country. The other thing I learned is that no matter where we went, somebody would come up to me at some point and say, hey Tom, this is great, only you can't do that here. Okay, it didn't matter if we were in Moscow, Russia, uh, where I have been a couple of times, whether we were in, um, Bishkek, Kyrgyzstan, or Dallas, Texas, same thing. Well, the first time it happened is a, is a really interesting story because we were in Santiago, Chile. And we, if you can imagine, at this event we had 600 people at round tables, so a big room. On the right-hand side of the stage is a Bentley, and on the left-hand side is a lime green Lamborghini, because the Bentley Lamborghini dealer was the a primary sponsor of the event. And so very first day, I'm about to get up, Robert turns to me, says, I want you to teach them how to legally deduct a Bentley. And I said, okay. So I got up and I explained how to, you know, what we would do in the U.S. to deduct a Bentley, and on our, in, in our business. And I'll, I'll show you some of, some of these things. But what What's interesting is at lunchtime, a tax attorney from Santiago comes up to me and he says, Tom, really, really good information. I love what you're doing. You can't do that here. It's illegal to deduct a car. It's considered a luxury. I said, okay, well, that's interesting. Well, I— that evening, I'm telling this story to Robert and the other speakers, and Robert just kind of looks at me, kind of nods, and goes, hmm, okay. And then the next morning, we're about to go on stage, and he, he turns to me, he says, Tom, today we're going to teach them how to legally deduct a Bentley in Chile. And I'm going, okay, we'll do it. Um, you always— I've learned if, if he says we can do it, I'm sure we can do it. We'll figure it out. So we go in and we actually showed a way to legally deduct a Bentley in Chile. At the end of the conference, the same tax attorney comes up to me and he says, Tom, I would never thought of doing it that way. It would absolutely work. So what that taught me is you can do it here. Now, you may not be able to do it here, but there are people doing it here, and we can do it legally. We're going to do everything legally, ethically, and morally. Okay, that is, that, that is the rule. I'm going to start, I'm going to share my screen so that you can see. I want you to understand first of all how the tax law works. And this is from Robert, uh, actually he doesn't talk about taxes in this book, but the, this is his second book, is Cashflow Quadrant. And in the Cashflow Quadrant, what Robert explains is that there's really only 4 ways to make money.

You can either make it as an employee, as self-employed—

I'm talking about serious money—

as a big business owner, or as a professional investor. And as I traveled with Robert, we talked about this. I'm going, so what's interesting is taxes— your—

how much tax you pay is largely impacted by how you make your money. For example, if you make a good salary you're probably going to pay 40% in tax. That's how much you're going to pay. You're, you're a, a college football coach, you're going to pay 40% tax. You're a, um, you're a CEO or a C-suite employee, you're going to pay 40% tax.

If you're a— if you then decide you want to own your job and maybe you get more education, become a doctor, lawyer, accountant, your tax rate tends to go up to 60%.

And the reason is, is because now you're paying both the employer and the employee. Share of the taxes.

As a big business owner though, all of a sudden you're down to 20%. And then if you get to be a professional investor, you can actually be at zero.

So the big question is, why? Why is— why do employees and self-employed people pay such higher tax rates than big business owners and professional investors? Well, and it's, it's pretty easy once you understand what the tax law is really all about. See, most people think that the tax law is simply a way for the government to raise revenue. Well, we've learned from deficit spending the government doesn't actually have to raise revenue. Doesn't seem like they have to.

It's not just to raise revenue.

Actually, for the last 60 to 70 years, the primary use of the tax law from the government has been to incentivize people and encourage them to do certain activities. It's actually about 98% of the tax law is a series of incentives. So once you get— you have to start with that in your mind. Right? I mean, the reality is there's one line in the tax law says all income's taxable unless we say it isn't. There's another line that says nothing's deductible unless we say it is. There's some charts and tables to tell you how much tax to pay, the different marginal rates. And then there's the rest of the 6,000 pages that is simply an instruction guide to paying less taxes. It is a series of incentives for doing what the government wants you to do. Well, so what do they want you to do?

Well, they go, well, what is it?

Why would the big business get a lower tax rate?

Well, because what do they create? They create jobs. They also create technology. And those are the things that the government wants you to do.

If you look at Amazon, Amazon didn't pay tax for a long time, but their employees did. They created jobs, the employees paid taxes. But they also created a ton of technology. Same with Tesla. Same, um, and, and so that's why they didn't pay tax. Now what about the professional investor? Now this is where we're talking about investing like a billionaire, okay?

Well, what do they want? They want housing. The government wants housing. It wants energy.

And it wants food, all produced by the professional investor. This is why Donald Trump's tax returns showed he paid zero tax, right?

This is, this is President Trump right here. He paid zero tax. Why? Because he makes his money in real estate.

He's building housing, he's golf courses, he's building other, other real estate. That actually, um, is things the government wants people to do. And he didn't create this tax law. Now we got his new tax law, but all he did was say, hey, if this is the— if this is the game, I'm going to win the game. I'm going to play the game, I'm going to understand the rules, and I'm going to win the game. So here we're just doing what the government wants us to do. That's it. You think about What, what— well, I was— when I travel with Robert, I always look at, okay, well, what does this government want?

And I look at their tax law, I'm going, okay, well, every government wants jobs.

So business is always the number one tax benefit, and it's always the number one— by the way, number one way to build wealth is in business. But of course, there's also real estate. There's commodities, energy, and food, right? These are all things the government wants you to do these things, and they don't want you to invest in derivatives. So let me be very clear, um, and I think Bob and Ben talk about this, is that, you know, the typical high net worth investor invests in the stock market. That's a derivative, right? It's a derivative of the actual business. Whereas what billionaires do, they invest actually in the housing, in the energy, in the food, right? They're drilling oil wells. They have massive farms and ranches. They're producing the food and the housing and other real estate, creating jobs in technology as well. That is fundamentally why the rich pay less tax than the average American. It's not— by the way, the good news is, This is available for everybody. Now, another way to look at this— I'm just going to give you this real quick—

I want you to think of this one other way, and that is that this side of the cash flow quadrant are consumers and this side are producers. And it's not to say that employees and self-employed don't produce. I'm not saying that at all.

I'm saying they don't produce as much And so the more you produce, the less tax you pay. The more you produce, the less tax you pay. And I want to show you an example, because in this new tax bill that we just got, we have, uh, they call the one big beautiful bill, right? We got back the best tax benefit that we've ever had when it comes to real estate.

Now I want to show you real quick how the difference in the smart taxpayers and the average taxpayers and how they invest. So this is your income statement, income and expense. And here's your balance sheet, asset liability.

Okay, now here's what happens in the average person.

Money comes in, it goes out, and they either save it or they spend it, and as a result, they pay tax on it.

You save it or spend it, you're going to pay tax on it.

What business owners all know is that if I take my money and I put it back into my business, I pay zero tax. What professional investors know, and people who invest like billionaires know, is that if I take my income in and I buy it, uh, an actual asset like real estate, commodities, um, uh, business, then I pay zero tax. But here's something else that people invest like billionaires really understand, and that is that the purpose of an expense is to actually create income, and the purpose of an asset is either create income or to reduce an expense.

But what they really understand is what's the purpose of a liability.

And the purpose of a liability is to buy or create an asset.

That is the purpose of a liability. So what I'm going to tell you is, if you're afraid of debt, it's because you don't trust the asset you're buying with the debt. If you're afraid of debt, you don't trust the asset you're buying with the debt. Now, what's the tax consequence of all this? Well, let me give you an example.

Let's say you go here and you invest in real estate. You say, I'm going to invest in real estate.

It's an easy one to illustrate. You can do this in oil and gas, renewable energy for the next couple years. You can do this in business.

Let's say that, okay, so I'm in— I'm in— I've got this house and I've got some landscaping And I've got, you know, I'm in Arizona, so we've got ceiling fans in every room, right? We got window coverings and you got some, some cabinets here, right? Okay.

So why is this important? Well, let's say I don't buy this house for myself, but I actually buy it for somebody else. It's called a rental, right? It can be a, can be a single-family home, duplex, fourplex, multifamily. Doesn't matter. It could be commercial building.

Same, same basic impact. All right, well, what happens is, is that the government gives us a great tax benefit. I call it the magic of depreciation. And depreciation is simply—

it's a deduction for the wear and tear on the property. That's what it is, ostensibly. But what we got in this bill was we got a permanent bonus depreciation.

Bonus depreciation. So what does bonus depreciation mean? Well, bonus depreciation— I'll, I'll show you how typically how the IRS looks at depreciation. If they look at it, they're going, well, land, how, how long does it take land to wear out? It doesn't wear at all. So we're going to give you 0% depreciation allowance on land. How about a building? Well, building, you know, if it's a residential building, it probably wears out over like 27 years or so. So we're going to give you about a 3.6% deduction. What about the land improvements like the landscaping or the outdoor lighting, things like that? Well, we're going to say, well, that's really going to last about 15 years. So let's say we give you 7% on that. And then what about the contents of the building? Well, the contents, that wears out a lot faster. So we're going to say we're going to give you about 20% on that.

Okay.

What bonus depreciation does is it says, look, we're going to take these two and we're going to give you 100% the first year. Okay. So what does that mean? Well, so practically what that means is, like, again, I've got this property here. Let's say I got— it's a, it's a duplex. We'll make it a duplex here, okay? And let's say I paid $1 million for this duplex. I paid $1 million.

Now, I could have paid $1 million and I could have put down $1 million. Now, people invest like billionaires would never do that. They would never put their own money into it because they would borrow money to create an asset because they trust the asset. So they've learned real estate, they understand real estate, they're going to do this.

So rather, they're going to put in $200,000 of their own money and they're going to borrow $800,000 from the bank. Debt. As Robert and I like to say, debt and taxes make you rich.

They can also make you poor, but if you understand them, they will make you rich.

All right, now my depreciation, do I get it on the $200,000 or the $800,000, or do I get it on the million?

And the answer is I get it on the whole million.

Okay, so I go in and I do what's called a cost segregation, and you have to hire a professional for this. And there are some good ones and there are bad ones, but there, there are some really good ones out there.

Cost segregation doesn't cost that much money. They'll tell you how much you're going to save. You're never—

you'll never be out of pocket on that. Okay, so let's say you do this cost segregation, and after this cost segregation, they find out that that million dollars, 30% is land improvements and contents. Plus contents. Why is that important? Because that's what's subject to bonus depreciation. Well, what does that mean? That means that 30% of a million is $300,000, which means that that $300,000 is a deduction. Now don't let Some tax preparer tell you that you can't deduct that.

You can't do that here. You're passive. You can't do that here. I'm going to tell you, there is never a depreciation deduction. I can't— we, we can't figure out how to take that depreciation deduction currently. Okay, it may take some work, but we will get there. So you get that $300,000 deduction. What does that mean?

Well, let's say between federal and state you're in a 33% tax bracket. That means that that deduction is worth $100,000 cash in your pocket because you would have given that $100,000 to the government, but now it's in your pocket.

All right, so what does that mean really?

Well, first of all, it means I have really only put in—

I haven't put in $200,000, I've only put in $100,000. The government put in $100,000 and I put in $100,000.

Well, that means that if my return—

let's say my return, let's say my, my cash-on-cash return on a million dollars, okay, let's say I'm at— let's say it's 8%, okay?

This is called the cap rate, right? That's the cap rate. So let's say it's 8%. Let's say my interest rate is 6%, right? That means that my total return actually is the difference between this and this, right, which is 2% times my debt-to-equity ratio, which is times 4, which is 8%, plus I get 8% of my money, so I get 16% returns.

However, do I really have a 16% return? No, because I didn't put in $200,000, did I?

I put $100,000. So I get to multiply this by 2, and my returns now are 32%.

I challenge you to find that in stock market.

This is a low risk—

talk about 8% cap rate. That's a low risk investment. 8%. Low-risk investment. Because I've got my tax savings, I'm at a 32% tax benefit— I'm at a 32%, sorry, rate of return. My tax benefit doubled my rate of return because it halved the amount of investment I made. It doubled my rate of return because it halved the amount of investment I made. So what does that mean? Very simply, it simply means that you invest like a billionaire.

You're—

you use debt, you use taxes, you double your rate of return. You absolutely can double your rate of return. And you just have to understand the asset, because if you trust the asset, you're never going to worry about borrowing. And if you have the right tax advice, you're going to be able to use the tax laws. Now, I we're about done here, Ellis, but I do have a bonus here.

Can I share that bonus?

Unmute me. Yes, sir, please do.

All right. Uh, no, so the 32%, there's a question here and I'd like to take it. First of all, that 32%, that 8% plus the, the, the 16%, that's your annual rate of return. So that means your annual rate of return is really double that because you only put in half the money. So it really is all the time. So let me show you this. I'm going to share this bonus because this is one of my favorite things that I do. And, um, this is WealthAbility Live. And this is— we're going to give you, uh, 1 month free, let you test it out, see if you like it. It's such an inexpensive— you're going to stay. It's $97 a month. But I actually answer all your tax questions twice a month. We spend an hour, we go through a, a tax topic that'll save you money, and then we, we take questions, any question you've got. Um, we talk about the One Big Beautiful Bill, we talk about anything coming down from the IRS, we talk about everything that's going on. This is absolutely— you want the, the most cost-effective way to reduce your taxes, this is it. Okay, this is, uh, WealthAbility Live. So, uh, just learn how. This is just only for you guys. First month, first month absolutely free. And then, uh, see if you like it and see if there's a way we can help. Happy to do that for you.

That's so huge, Tom. Thank you so much, guys. So when you, when you grab the, the bonus, or when you grab the bulk, Tom's including that in there, which means exactly It's all, it's that's $97. Like that's off the cost of what you're buying for the book. So I think that's a huge value, Tom. This is, I wish, I mean, we could sit here, man, with you for probably an hour and do go through questions, but you do that. You just offer that to us. Literally. That is what you do.

I did. I just offered it to you for free.

Um, so incredible. Uh, thank you again for being part of this. I mean, I loved how you just tied the Billionaire Framework. I mean, that's exactly, uh, You know what, what the book is all about. I love this quote. I want to make sure I got it right. Cause I'm going to make a t-shirt about this unless you already sell a t-shirt. Debt and taxes make you rich. Is that, is that the quote?

That is the quote.

I love that contrarian thought, right? Because most people take those and think differently, but if you're, if you're using them wisely and leveraging them like billionaires do, it actually can make you rich, not poor.

That's right.

Hey, give it up for Tom. I mean, come on. How about in the comments here, show some love for Tom. Uh, if, if you're going to go get access to that bonus, let him know, uh, Tom, we've already had dozens of folks take that. So I'm sure there'll be a lot new, a lot of new faces joining you, uh, in this next month. And so, so grateful, uh, that you're here. Yeah. Awesome. Look at the chat blowing up for you, man. So thanks again for being a part of this. We're, we're, we're grateful to have you here.

Absolutely happy to do it and look forward to seeing everybody at WealthAbility Live.

Okay.

Awesome.

Awesome. Awesome. Hey, so we are getting ready to start a, um, we have two more sessions, everybody. So we are going to have a session on how to vet and find, or I guess the other way, how to find and how to vet private placement deals. So if you are new to the world of alternative investing, then it is incredibly important to know one. I'm sure you're asking, where do I find these deals? Right? Well, of course, I mean, we have a firm Aspen Funds, but, you know, we don't do everything. And of course, we believe in diversification. So you want to know, where do I go look? Where else can I go find these deals? But then more importantly, maybe is how do I vet them? How do I make sure that I protect my capital? I have a defensive strategy. So Ben Fraser and David Phelps, Dr. David Phelps, Founder Freedom Founders is going to go live. That's in 6 minutes. We pushed it back 6 minutes. So at 2:46, uh, let me make sure that's right. We're going live with them and then we are going to wrap that up. Uh, we are going to wrap up with, uh, with John Maxwell. And actually I'm going to, um, tell those guys to go on at 2:45. So right at 2:45, we're going to go into that session with David Phelps and Ben Frazier, and then we are going to finish the day with an interview with Bob Fraser, uh, interviewing John Maxwell, the number one authority in leadership, and talking about, you know, how, like, what is the, the, the combination of leadership and investing and what makes a good, uh, investor and what makes a good leader. And you're gonna be surprised at the similarities between both of those things. Uh, again, there's, I, I just wanna, I mean, this, I'm already seeing so many names who've purchased the, the, the bonus. And so I just wanna, uh, say thank you guys for supporting us. Uh, Barat, Jeffrey, Rob, Scott, Tracy, uh, Marshall. So thank you so much, uh, Paul and Chris. Uh, guys, we're— again, the whole point of this is you're getting 10 books. You're going to get, you know, net— you, you now have a month access with Ken, a month access with Tom. Both of those cost you hundreds of dollars to actually get access to. And so at this point, the, the 10 books is really free if you think about how much value we're giving in exchange. And so I know a lot of people asking for replays. We will kind of get all these replays and put them on the Invest Like a Billionaire YouTube channel over the next couple weeks. But the only place to get, you know, lifetime access in one place is when you buy the $299, uh, 10-book. We buy the 10 books for $299 using the, the Billionaire Bundle link. And we've created a portal. You'll get access to all the bonuses, all the replays in one place. The portal is really well designed so you can click into each speaker and get every single one of their bonuses. Uh, instantly. So we're going to be— and then after this summit, of course, this is live, so we don't have the recordings yet, but as soon as we finish this, we'll get those recordings in, um, and get those over to you as fast as possible. So I hope you'll take us up on the, uh, on the Billionaire Bundle for $299. Again, 10 books and all the bonuses from every single speaker today is going to be in there and accessible for you to get started. And really, it's— we want to invest in your investment journey. And excited to do that. So here we go. We're going to move over into the next session, which is going to be how to find and vet private placement deals with Ben Fraser and David Phelps. So click out of here, grab some water, and we'll see you in just a minute or two. Okay. Thanks everybody.