CP30: How to keep more by saving on taxes through eQRP's with Damion Lupo

Join me and my co-host, Steve, as we talk with Damion Lupo about eQRP® and why it’s the best investor tool for tax-deferred and tax-free investing. Damion has over 20 years of experience as a professional investor, having built and lost a $20 million business in single-family rentals to recreate that wealth again. He's a serial entrepreneur of over 50 companies and is most recently known for a retirement tool called the eQRP®. He’s going to share some great gems involving eQRP®, as well as his holistic approach to real estate investing. Stay tuned!

What is eQRP®? 

eQRP® or Enhanced Qualified Retirement Plan is a checkbook retirement account for responsible entrepreneurial investors who would like to gain more control of their retirement money. It offers more access to assets usually not allowed in traditional IRAs such as buying real estate properties or even gold. 

Almost all entrepreneurs can qualify for an eQRP®, whether it’s an online business, a consulting business, or if you’re a solopreneur or part of a partnership or corporation. Damion emphasized, though, that an eQRP® account is not for the reckless. It is ideal for people who can take total responsibility for their finances. 

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 50 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 martial art, and holds three 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. 

Outline of the Episode: 

●    [01:33] From a $20 million portfolio into a negative five $5 million net worth

●    [03:31] The shift from a consumer mentality to a contributor mentality

●    [05:27] What is eQRP®? Why is it considered the Ferrari of retirement accounts?

●    [06:45] What's the difference between eQRP and self-directed IRAs?

●    [09:23] The effect of the Cares Act to retirement accounts

●    [11:14] What can or can't you invest in eQRP®?

●    [12:24] Why should you use eQRP® instead of directly investing in the assets themselves?

●    [14:16] Avoid self-dealing and choosing the cheapest route!

●    [16:58] Being the best at one thing instead of being the best at everything

●    [21:32] The 10X rule versus the 5X rule. How to push yourself without breaking?

●    [23:15] Stepping away from conventional wisdom and falling in love with the work

●    [26:32] How can you use eQRP® with a Roth account to not pay taxes for 50-70 years?

●    [31:33] Damion's business book recommendation

●    [32:48] Giving yourself the gift of stillness

●    [33:36] A quick background about Yokido

 Resources: