There Are Over 1.2 Million Retirement Millionaires (How To Become One)

Why It Matters

This matters because choosing the correct tax-advantaged retirement vehicle—and leveraging employer sponsorship or business‑owner plans—can dramatically increase how much you can save tax-efficiently, turning disciplined savers into millionaires in retirement. For entrepreneurs and high earners, plan selection and contribution strategy can unlock hundreds of thousands of dollars in annual tax‑sheltered savings.

Summary

There are more than 1.2 million retirement millionaires as of late 2025—about 654,000 401(k) millionaires and 559,000 IRA millionaires—underscoring how tax-advantaged retirement accounts compound wealth. The video explains key distinctions between taxable accounts, IRAs, and 401(k)s (including Roth options and HSAs), emphasizing that retirement plans shield investment growth from annual taxation. Employer-sponsored plans matter because they allow much larger combined employee-plus-employer contributions—solo 401(k)s and cash balance/defined-benefit plans can permit contributions far above IRA caps. The hosts also highlight strategies like backdoor Roths and choosing the right plan type to maximize tax deferral and savings potential for high earners and business owners.

Original Description

Want to build a million-dollar retirement without guessing on stocks? In this video, Toby Mathis, Esq. is joined by Eliot Thomas, Esq. of Anderson Business Advisors to break down how the type of account you use—like a taxable brokerage account versus an IRA or 401(k)—can make a massive difference in how fast your money grows.

Would you like to learn more about protecting your assets and minimizing taxes? Schedule a free consultation here 👉 https://aba.link/qmfl

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You’ll learn how taxes impact your investments, and why strategies like tax deferral and Roth accounts can help you keep more of what you earn.

They also cover how certain plans let you contribute far more than most people realize, sometimes even hundreds of thousands per year.

If you’re serious about growing your wealth and understanding how retirement accounts actually work, this is a must-watch.

Show Notes:

0:00 Intro

1:47 Traditional IRA vs Roth IRA Explained

3:34 The Big Difference Between IRAs & 401(k)s

5:48 IRA Income Limits Most People Miss

7:08 Solo 401(k) vs Traditional 401(k)

8:22 The Best Retirement Plan for Business Owners

11:22 The Simple Wealth-Building Cheat Code

14:10 How Business Owners Can Contribute Over $50K Per Year

17:22 Catch-Up Contributions & Retirement Strategies for High Earners

18:36 S Corporation vs Sole Proprietor Retirement Planning

21:25 How to Build a $72,000 Tax-Free Roth Account

23:08 How High Earners Reduce Taxes with Retirement Plans

24:43 Outro

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ABOUT TOBY MATHIS

Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba

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The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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