#42: Why the Self-Directed IRA is Ripping You Off with Damion Lupo
Feb 19, 2020
Damion is a best selling author and noted financial mentor to the elite. Damion became a multimillionaire by age 25 and then lost his $20 Million empire by age 30. Five years later he is back to being a multimillionaire and on today’s show, we discuss what he discovered about self-directed IRAs and why it’s terrible to use in real estate.
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Why the Self-Directed IRA is Ripping You Off with Damion Lupo
In 1999 Damion took a $6,000 cash advance out on his credit card to purchase his first real estate property. In the beginning, he did everything on his own. He kept repeating the same process over and over again. Damion became quite successful while at the same time becoming ever increasingly arrogant.
During the market crash, Damion lost $20 Million as his ego bested him. After his meltdown, he knew that he had to pivot. Damion's dad had lived a life of regret and Damion knew that he didn't want others to end up like his dad and decided on helping people achieve freedom in their lives. This is around the time Damion discovered the eQRP process and how investors can leverage it to protect their assets and save on taxes.
In this episode you'll also learn:
- How Mitt Romney moved $40,000,000 into a Roth IRA
- Why your retirement assets aren't safe
- What Damion learned from starting over 50 businesses
- Why you should always 'disclose'
- How speculating relates to Las Vegas
Connect with Damion:
Links mentioned in the show:
Thinking For A Change by John Maxwell
The E-Myth by Michael Gerber
Rich Dad, Poor Dad by Robert Kiyosaki
Power vs. Force by Dr. David Hawkins
MONEY: Master The Game by Tony Robbins
Ego Is The Enemy by Ryan Holiday
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