Unlocking Financial Freedom: Harnessing the Power of eQRP System for Wealth and Independence

21st June 2023 | By Sam Teague

How to use a eQRP

A full guide to achieving financial freedom.

Financial freedom, that state of complete control over one’s finances, often feels like an exclusive privilege reserved for a select few. It’s as if there’s a secret club where only the wealthy or the exceptionally fortunate have access to the keys to financial independence. But let me assure you that this notion couldn’t be further from the truth. It’s possible to live a life free from the constraints of money. 

A life where you can pursue your passions without restrictions.

How to achieve financial freedom leveraging the eQRP.

1. Invest in unique asset classes.

Here’s something to keep in mind on your journey to financial freedom: adopting a long-term perspective is crucial. Seeking quick gains will not lead to lasting financial independence. 

Now, investing in unique asset classes can be a powerful pathway to financial freedom. By diversifying your portfolio beyond traditional stocks and bonds, you open doors to new opportunities and potential for higher returns. 

The eQRP allows you to invest in unique asset classes, such as real estate, private equity, cryptocurrencies, commodities, and alternative investments, which have the potential to generate substantial long-term growth and income. However, It’s essential you conduct thorough research before making any investment decisions.

2. Make self-employed contributions to defer taxes.

Making self-employed contributions to defer taxes can be a strategic move that helps you achieve financial freedom in several ways. Firstly, by contributing to an eQRP account, you can lower your taxable income in the current year. This reduces your immediate tax burden, allowing you to keep more money in your pocket and allocate it toward other financial goals.

Additionally, deferring taxes through self-employed contributions enables you to benefit from potential tax-deferred growth. The money you contribute, and your gains grow tax-free within your eQRP account until you withdraw it during retirement and/or prior to retirement. Your earnings can compound over time without being diminished by taxes. This can result in significant financial growth over time, placing you on the right path to financial freedom.

3. Make profit-sharing contributions to create tax deductions for your business.

A lot of people don’t know this but, profit-sharing contributions made to an enhanced qualified retirement plan are generally tax-deductible for your business. This means that you can lower your taxable income, which in turn reduces your overall tax liability. By saving on taxes, you can allocate more funds toward your financial goals.

4. Take out a personal loan from your balance to finance personal opportunities.

Taking a personal loan from your eQRP balance to finance personal opportunities can potentially accelerate your journey toward financial freedom in several ways.

By utilizing a personal loan, you can gain access to the necessary funds to pursue personal opportunities that can get you closer to your financial goals. The good thing about this is, taking a loan from your eQRP attracts no penalty unlike the traditional retirement accounts that give you zero control of your money

The best part is that typically loans from your eQRP often come with lower interest rates compared to traditional loans. Instead of paying interest to a financial institution, you essentially pay interest back to yourself, allowing you to save money in the long run.

5. Invest passively so you can focus on your priorities.

Passive investing offers a disciplined and systematic approach to wealth building. With passive investing, you can benefit from the power of compounding and accumulate wealth steadily over the years. Passive investing aligns with a long-term perspective.

Instead of chasing short-term market fluctuations or trying to beat the market, as a passive investor, you’ll focus on long-term wealth accumulation. This approach can help you ride out market volatility and capture the overall growth of the market over time.

Rather than constantly monitoring the markets, analyzing individual stocks, and making frequent trades, passive investors can take a more hands-off approach. This allows you to dedicate your time and attention to other aspects of your life that matter most. The eQRP allows you to invest passively in various assets such as precious metals, real estate, and other asset classes. 

6. Provide an opportunity for employees and still give you the option to invest outside Wall Street.

The eQRP provides great financial opportunities for your employees and still gives you the option to invest outside of Wall Street. This can be a powerful tool for achieving financial freedom. By diversifying your investment portfolios and accessing alternative assets like private equity and real estate, you can reduce risk and potentially achieve higher returns. 

Investing outside of traditional avenues gives you greater control, involvement, and the ability to hedge against systemic risks. It also opens doors to a wider range of investment opportunities, empowering you to take charge of your financial future and build wealth through non-traditional avenues. This approach fosters a more diversified path toward financial freedom.

7. Protect your investments with anonymity.

The eQRP offers you a unique feature that allows for investment protection with anonymity. By utilizing a checkbook control structure, the eQRP enables you to have direct control over your retirement funds and investments. This structure allows you to make investment decisions on behalf of your retirement plan without involving a custodian or third-party administrator.

The eQRP builds an LLC with your eQRP to provide anonymity when investing. It helps you shield your assets from potential threats. It also gives you the control to invest within your network. By combining anonymity in investments with proactive funding of network-based ventures, you can safeguard your assets, capitalize on emerging opportunities, and pave the way toward lasting financial freedom.

8. Strategically convert funds to minimize your tax burdens.

By employing effective tax planning strategies, you can optimize your financial resources and maximize your after-tax returns. One key approach is strategically converting funds from taxable accounts to tax-advantaged accounts, such as the eQRP. Converting funds to this tax-advantaged account offers several benefits. 

Firstly, it allows you to take advantage of the tax-free growth potential within the eQRP. Any future investment gains, dividends, or interest generated within an eQRP account can be withdrawn tax-free during retirement. This can significantly enhance long-term wealth accumulation and provide a source of tax-free income in retirement, thus increasing financial freedom. We always recommend consulting your tax professional on if and when it’s a good time for you to capitalize on a ROTH conversion. 

9. Make contributions specific to your retirement goals and timeline

eQRP provides a powerful platform that empowers you to make contributions specific to your financial goals and timeline. With its higher contribution limits compared to IRAs, you have the freedom to customize your savings strategy according to your unique financial situation and aspirations. Whether you have specific income targets, a desired retirement age, or other goals in mind, eQRP allows you to make contributions that align precisely with your objectives. 

This targeted approach ensures that your savings efforts are purposeful and effective, maximizing the potential for long-term growth. You also have the opportunity to take control of your retirement planning, create a tailored roadmap, and pave the way for a financially secure and fulfilling future.

However, financial freedom is not just about the numbers; it also requires a shift in mindset and continuous learning. The journey to financial freedom may have its ups and downs, but by staying committed to your goals, making adjustments when necessary, and staying focused on the long-term vision.

Financial freedom is not a destination; it’s a lifelong journey. It requires discipline, intentionality, and a willingness to embrace change. By implementing the strategies and insights shared, you have the power to transform your financial life and unlock a future of financial security, and the freedom to live life on your own terms.

Want to learn more about how you can leverage the power of eQRP to achieve financial freedom? Click below to book a free call with an eQRP expert.

Schedule a fREE strategy session here

Written by

Sam Teague