QRPs for Tax Advantaged Investing
Today, we’re talking about an alternative retirement investment tool other than the 401k or self-directed IRA. Our guest has been a professional investor for more than 20 years with the purchase of his first rental house he charged on his VISA. That move snowballed into 150 rental houses in less than 5 years. Like everybody else, he lost big time in the 2008 economic crisis. But, in just less than five years, he reclaimed his wealth and now, he is on his mission to free 1 million people from the shackles of financial bondage.
Damion Lupo is a professional investor and best-selling author of 10 books on personal finance, investment, and retirement strategies. He pioneered over 50 companies including the eQRP® - the ultimate investor retirement tool that allows individuals to take control of their retirement money and invest it in real assets like Real Estate, gold, and crypto WITHOUT GETTING HIT WITH UBIT. Interesting fact, he also founded his own martial art, Yokido®.
Damion and I talk about his beginnings, the challenges he faced, lessons on investing he acquired over the years, and how he created eQRP® as a retirement investment option for everyone. He also shared how this financial strategy works, its difference with 401k and IRAs, how to set it up, and who are those qualified to avail of it.
In this episode, we’re discussing…
[02:16] How Damien started his real estate business without money, grew it to millions, and blew it in the 2008 housing bubble crisis
[05:45] The major lesson he learned after experiencing being worth negative $5 billion
[07:03] How Damien developed the eQRP®
[10:22] How QRP differs from the 401k
[11:20] Why investing in real estate with your IRA is a very bad idea and why eQRP® is the Ferrari of retirement accounts
[12:56] How eQRP® works
[19:39] How one can invest in eQRP® and Roth at the same time
[21:12] The importance of having a team of professional investors managing your retirement account
[24:00] Who can invest in the eQRP®
[24:52] Difference between solo 401k and eQRP® when it comes to employees and liability protections
[26:29] How much you can put in the eQRP®
Damion’s Top Tips:
“Being in high net worth is not self-worth.”
“My mission is to free people from financial bondage by breaking their financial shackles with some tools and a lot of teaching. It's about giving people the ideas and opportunities to break their own shackles because we have all these shackles on, but they're self-imposed. Nobody's put them on us, except for us.”
“[With retirement money in IRA and 401k], the plan is just hope. We take a big drag of this ‘hopium’, take a big inhale, and then hope it works. Maybe in 30 years, you’ll actually have money. [But] in reality, it's a roller coaster. So we just spent all these years watching this roller coaster go up and down.”
“[With eQRP®], you end up being in charge. You're the trustee of your plan. You get to write the checks, you get to decide what you're going to invest in, and you make all the decisions.”
“If you have IRAs that are invested in real estate, you can fix this problem by moving the asset with income rollover, and voila! No tax!”
“If you want to think like a billionaire, think differently. Do things differently if you want to be wealthy and financially free.”
“Information is not power. It's what you do with the information. If that was the case, the internet would be Hercules.”
“We're drowning in information and starving for wisdom.”
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Categories: Investment, Retirement, Finance
Tags: The eQRP, Damion Lupo, alternative retirement investment tool, 401k, IRA, self-directed IRA, real estate investing, retirement investing, finance tool, solo 401k, financial strategy, retirement accounts, money, income rollover, no tax, financial bondage, business investment, investing, eQRP, retirement strategies
ABOUT DAMION LUPO
Best-Selling Author of 10 books on personal finance, investment and retirement strategies, Damion is on a mission to free 1 million people from financial bondage.
Not only has he started 50+ companies, he even founded his own martial art, Yokido®.
Damion developed the ultimate investor retirement tool called the eQRP®. His strategy gives individuals total control of their retirement money to invest in real assets like Real Estate, gold, and crypto WITHOUT GETTING HIT WITH UBIT.
Damion has been a professional investor for more than 20 years starting with the purchase of his first rental house he charged on his VISA. That move snowballed into 150 rental houses in less than 5 years. In 2008 he lost the whole $20 million business only to bounce back and recreate his wealth in less than 5 years.