In this Alchemist Nation Real Estate Podcast/Interview, Damion Lupo explains what EQRP stands for and what it does. He says that EQRP is the Enhanced Qualified Retirement Plan and is a type of retirement plan, tax shelter under the 401 section of the tax code that they built where it basically gives an individual or small business with employees options to be able to invest in primarily with their retirement money.
To listen to Damion Lupo’s Alchemist Nation Real Estate Podcast on Anchor: #84 Alchemist Nation Real Estate Podcast – Damion Lupo Explains EQRP
I ask Damion if the stock market for real estate will crash because what we saw in February was an idea of what was going to happen and we got another idea coming because the stock market is more volatile. He says the banking system/the federal reserve is a money cartel, a criminal organization of people running the bank and if you want to understand it, read a book, The Creature of Jekyll Island by G. Edward Griffin, it’s a pre-eminent book on the Federal Reserve and how the banking system works and that entire system works so long as it keeps expanding. People in power and politicians say go and spend, even George Bush after 9/11, said go and spend because if we don’t spend, we don’t increase the monetary supply. People in power need us to be enslaved in debt. The reason why he lost 20 million dollars in 2008 beside his ego was that he wasn’t patient enough where he sold a bunch of stuff in 2004 and 2005 which a lot of people have done in the last couple of years. They made a ton of money in multifamily or different real estate, now they think too smart. He was like no, they have the luckiest timing, they took action, a good job which he did too but instead of him taking a vacation and watching the thing settle, he went in and got himself killed. That’s what he sees people doing now, they’re investing with emotion and frenzy, not with fundamentals that don’t end well.
I further ask Damion what is the safest bet investors should be making right now to stack their money and prepare themselves for the future. He says that EQRP is going to be useful to get your money out of wall street jail, a retirement jail where you don’t have control over 401K and IRA. You can pick mutual funds that’s what he calls not doing something, but that’s what he calls being on a roller coaster inside the jail. Right now there is a way to get out of retirement even if you’re still working to the end of December, one of the government’s program they did in March called the CARES Act. Most people’s liquidity and future survival depend on that account called the 401K and there is a book called Who Stole My Pension, coauthored by Kiyosaki and if you think you’re a firefighter or police officer and you have worked for the government thinking that your pension is going to be OK, wake up your pension is tossed. He further says that what people should do right now is to invest in their own personal development because when things are changing, you are not going to rise to the occasion but to the level of your training of how to manage yourself, how to be calm. People always ask him what is the best investment they can make and replies to them saying it is You where he tells them to go hire a mentor, go hire someone bold like them.
Damion offers 3 pieces of advice to 20 years old Damion to be successful in this economy.
1) – Go there and fail as fast as you can and do it often.
2) – Stop focusing on the money, focus on the impact.
3) – Learn as fast as you can by doing it.
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To get in touch with Damion, Text EQRP to 7200
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