In this episode, I get to sit down with Damion Lupo, one of the co-founders of Total Control Financial, a five-time author, and sought-after financial consultant for accredited investors and business owners. Tune in to this episode to find out how you can create your own wealth to set yourself up for the future.
[:27] Jennifer introduces her guest for this episode — Damion Lupo.
[1:52] Damion advocates taking the reins and running with them as individuals, to create your own wealth and set yourself up for the future. He explains more about how this philosophy relates to investing.
[4:05] Does Damion think that the general population just doesn’t want to learn about managing their finances? Why do so many people entrust financial advisers with their managing their wealth?
[6:21] How should we be growing our wealth to ensure that we don’t outlive our money?
[8:13] Damion believes that the stock market is inevitably going to crash. He elaborates on what that means.
[9:20] What can we do as individuals to lower our tax liabilities?
[13:46] Why isn’t everyone using the eQRP?
[15:13] Jennifer sets up a hypothetical situation for Damion to analyse.
[17:52] What about a 401k that someone has with their company. What is Damion’s recommendation?
[19:30] What happens to the money in the eQRP? Does it have to be spent on something?
[21:28] If someone has an untaxed 401k, and moves it over to eQRP, are there taxes that have to be paid?
[22:50] Damion’s company is the only one in the country that does eQRP (but you don't need them to operate once it’s set up)!
[25:12] This plan can help people to reduce their tax liability by up to $120,000 a year. Where is that coming from?
[28:52] What are some of the limitations on what you can do with an eQRP?
[34:49] There are many things that can be done with money — the question is what is the plan and vision?
[35:30] Jennifer recommends a book about leverage — Misfortune 101, by Douglas Andrew.
[36:05] What are some of the next steps for someone listening in? How can this information be presented to someone else?
[38:34] Check out Damion’s website for a wealth of information!
[41:03] Damion leaves us with some final tips on growing your wealth and helping others create more wealth.
[42:30] Damion’s free book is available on his website! Be sure to reach out to him if you are anxious to grow, and he’ll do everything he can to help you!
[44:02] Damion is currently reading Be Obsessed Or Be Average, by Grant Cardone, and recommends that you check it out too!
Mentioned in This Episode: