Our guest today is none other than Damion Lupo! We welcome Damion to explain something he says we should all be aware of but is often shielded from us for the sake of financial advisors’ interests!
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He wants to talk about QRP’s or qualified retirement plans, his trademarked Enhanced Qualified Retirement Plans and how much money you can save and ultimately make, with the use of one. We start our chat getting some background on our guest and his unique money and real estate journey, having started over 50 companies, and his first one at the tender age of 11! He then explains the empowerment that occurs when investors change over to QRP’s instead of many other retirement plans and the hidden constraints of many IRA schemes. Damion explains the basic and important concepts for any newbies and offers a few tips for getting started down the road he is describing. We also get into why these plans have traditionally been obscured from view and the tax benefits that make them so attractive. For all this great and potentially life-changing information, listen in to what Damion has to say, today!
Key Points From This Episode:
- A little about Damion and the big difference between him and most other people.
- Qualified retirement plans or QRP’s and the niche that they serve.
- Using qualified plans as a way to put yourself back in the driving seat.
- Enhanced Qualified Retirement Plans or EQRP’s and the benefits they offer.
- Why self-directed IRA’s don’t allow you as much control as you may want.
- Getting started on one of these EQRP’s and understanding the basics
- Comparing the tax laws of these different plans and staying ahead of the game.
- The key points to get a grip of when entering into the conversations and decisions.
- The biggest hurdle to investors getting the information they need on the subject.
- How you can improve your plans in the simple way that Damion is suggesting.
- The contribution that failure has made to Damion’s ultimate success.
- The gift of belief and how Damions aims to empower people with its power.
- And much more!
[bctt tweet=”I think that’s the key for my success and my failures, is finding problems, solving them and then being willing to make mistakes. — @damionlupo” username=”Whitney_Sewell”]
Links Mentioned in Today’s Episode:
About Damion Lupo
Born with an entrepreneurial spirit Damion started his first business at age 11, (even hiring his parents for logistics support). Over the last quarter century he’s started and owned more than 40 different companies including an insurance agency, precious metals firms, a venture capital company, a coaching and consulting firm, and more than a dozen real estate investment and development companies. He’s also the founder of Yokido ™, his own a martial art and holds 3 other black belts. He is a sought after financial consultant for high profile private clients. Using a vast depth and breadth of knowledge on financial markets, money psychology and unconscious pattern motivation he’s an expert at quickly assessing hidden financial cancers and holistically healing his clients and organizations through awareness, empowerment and vision development. Damion’s personal philosophy centers on Self Responsibility and a conviction that the only path to freedom is through candor, growth and a big vision. That big vision ideal is what drove him to narrow the focus on the Retirement System and teach about the eQRP, a tool to design retirement vs. get destroyed by it. Today Damion works with change agents to Disrupt Wall Streets manipulative system of enriching itself at the expense of its client. He’s on a mission to Empower Main Street through tools and teachings of financial transformation . His overriding mission and passion is to elevate humanities power and control over their life by reducing the complex into the simple and creating a transparent conversation around money and investing.
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