This episode: The $40 Million Hack That Tried to Break Him — and the Comeback That Built Something Better.

Here’s what you’ll learn about:

Introduction and Purpose of the Interview (0:00)

• Host Drew Deraney thanks John Maas for introducing him to Adam Bergman and sets the stage for the interview.
• Drew discusses the concept of life being linear until adversity tests us, introducing three types of men: those who don’t notice adversity, those who blame others, and those who see it as an opportunity for Growth.
• He invites Guest Adam Bergman to share his defining moment and how it impacted him personally and professionally.

Adam Bergman’s Defining Moment (1:38)

• Adam Bergman recounts a major turbulent event in February 2022 when his business, Irish Financial, faced a $40 million Crypto hack.
• Despite having insurance, the hack was a significant Trauma for Adam’s business, which had over 20,000 accounts and $3 billion in assets.
• Adam describes the choices he had: to go bankrupt or fight, and how his wife’s support was crucial in his decision to fight.
• He explains the long process of settling with clients and the FBI finding the criminal, which led to a positive outcome for his business.

Impact of the Hack and Personal Growth (4:59)

• Adam reflects on the personal and professional impact of the hack, emphasizing the importance of self-awareness and learning from the experience.
• He discusses the need to clean house and replace loyal but underperforming team members, which led to the company’s growth.
• Drew and Adam discuss the concept of people coming into our lives for a reason, a season, or a lifetime, and the importance of letting go when necessary.
• Adam shares a recent success story of a client who saw a significant return on their investment through a Roth IRA.

Understanding Roth and Traditional IRAs (5:51)

• Adam explains the differences between Roth and traditional IRAs, highlighting the tax benefits of each.
• He discusses the possibility of converting a traditional IRA to a Roth IRA and the importance of understanding these financial tools.
• Drew and Adam talk about the lack of financial Education in traditional workplaces and the importance of sharing this knowledge.
• Adam shares his own journey of learning about Roth IRAs and how it changed his life and career.

Advice for Clients and Personal Reflections (8:01)

• Adam advises clients to invest in what they are interested in and to do their own research, as they tend to make better decisions.
• Drew asks Adam to reflect on what might have happened if he had given up, and Adam expresses certainty that he would be in a bad place.
• Adam shares his hobbies, including playing around with AI and spending time with his three young children.
• He emphasizes the importance of being curious, questioning authority, and continuously learning throughout life.

Final Thoughts and Advice for Young Entrepreneurs (10:18)

• Adam advises his younger self to be more curious and to focus on the business, emphasizing the importance of loyalty and skill sets.
• He advises young entrepreneurs to be patient and prepared to work for at least 10 years, as success takes time and effort.
• Drew and Adam discuss the importance of resilience and the long-term journey of building something valuable.
• The interview concludes with Drew thanking Adam for his insights and contributions, and expressing excitement about the future of the interview’s release.

To learn more about Adam’s mission, go to his LinkedIn profile at https://www.linkedin.com/in/adambergman1/  or his website at https://www.irafinancial.com/. 

Adam Bergman Bio

Adam Bergman is a well-known figure in the world of Retirement Planning, particularly for his pioneering work in the Self-Directed IRA (Individual Retirement Account) industry. As the founder of IRA Financial, a leading firm specializing in self-directed retirement accounts, Adam has built a reputation as a highly respected expert on alternative investments and tax-advantaged retirement strategies.

Before founding IRA Financial, Adam worked as an attorney specializing in tax law, focusing on retirement and investment strategies. His extensive knowledge of tax codes, ERISA (Employee Retirement Income Security Act), and IRS regulations gave him a unique perspective on the potential benefits of self-directed retirement accounts, which at the time were relatively underutilized.

In 2010, Adam Bergman launched IRA Financial with the goal of facilitating the setup of self-directed retirement plans and also providing comprehensive guidance on how to structure these accounts and navigate the legal intricacies involved.

A Self-Directed IRA allows individuals and business owners to invest in a wide range of assets, including Real Estate, private equity, cryptocurrencies, precious metals, and even startups, which mainstream IRAs do not permit. Under Adam’s leadership, IRA Financial grew into one of the largest and most recognized firms in the self-directed retirement space with over 25,000 clients and over $5B in assets invested.

Adam has written extensively on topics such as Self-Directed IRAs (both traditional and Roth), Solo 401(k) plans, the legality of alternative investments, and tax strategies. In addition to authoring nine books, his work has been featured in over 100 prominent media outlets such as Forbes, The Wall Street Journal, and Business Insider. In addition to his writing, Adam has appeared as a speaker at numerous financial and investment conferences and podcasts, where he shares his insights on the future of retirement planning and alternative investments. His expertise and ability to simplify complex tax and legal concepts have made him a trusted resource for both individual investors and financial professionals.

About your host: I’m Drew Deraney, the proud father of three children. For most of my life I’ve been concerned with what people thought of me and how I was supposed to act. I learned not to be my authentic self and instead became a people pleaser, a man wearing a mask.

In a 9-month span a few years ago, I endured four faith-shaking life events that caused me to question my existence.

I became determined to find a better way to live. Through intense self-reflection and awareness, I realized that in order to be happy, I must adhere to my standards of honesty, integrity and truth and needed to break free from the belief system that was anchored in me for close to 50 years.

I now believe that success happens when we find a better way and are willing and able to share it. HOW I do that is by challenging the status quo and thinking differently. Ultimately, WHAT I bring to the table is a way to contribute and add value by having an impact on the lives of others.

My company, Profit Compassion LLC consists of 3 paths:

The Caregiver Family Health Coach: coach for caregivers of individuals with special needs, including Autism Spectrum Disorder (ASD). For Caregivers who are open to a conversation about how I can support you on your Caregiving journey: I help caregivers find balance, build resilience, and rediscover their own well-being. Through personalized Coaching, I provide practical strategies, emotional support, and the tools to reduce Burnout, strengthen Relationships, and navigate the challenges of caregiving with confidence. My goal is to empower you to care for yourself as compassionately as you care for your loved one.

The Mindful Man Movement: men’s self-discovery coach, speaker, podcast host, author. For Men Seeking Answers Within: Imagine having crystal clear knowledge of your purpose in life where you make confident decisions, and are assertive, productive, and at peak Mental Health. Corporate executives hire me to guide them to tap into their natural power through self-discovery so they may write their own story and live the life they want to live.

WealthPath Strategies & Solutions: health/wellness and financial services to support individuals and businesses.

Join me in transforming challenges into opportunities for growth. Let’s embark on this journey together.

HOW TO CONNECT WITH COACH DREW:

Website: https://profitcompassion.com/

Email: [email protected]

Book a discovery call: https://link.mavericksystems.online/widget/bookings/netweaving/connect30

Pick up a copy of Drew’s book: https://amzn.to/40dsbyR or https://bit.ly/BandNDrew 

You Tube channel: https://www.youtube.com/channel/UCtwMTiiZvnhTpsaCYMK6oqg?sub_confirmation=1 

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Drew Deraney Mindset Mastery Coach (Life Coach with a Twist)

Drew Deraney now travels the world both to Live and Virtual Events showing mostly men the steps needed to strengthen self-identity and self-worth, to overcome self-limiting beliefs, and to build confidence while being authentic, maintaining boundaries and to transcend people pleasing skills to become the person they are destined to be. Drew challenges them to reach deep inside and make a lasting impact.

In a 9-month span, Drew experienced a grueling divorce, job loss, his son’s suicidal ideations, and his father’s death which devastated Drew emotionally, mentally, physically, and spiritually. It is a commonality for men to consider any challenge as a weakness as well as to show emotion and ask for help. While writing his book, Drew realized he was not the only man suffering in silence. With more clarity of purpose than ever, he began asking for help. Drew Deraney’s mission is to help especially men, release their inner greatness by showing vulnerability, keeping in integrity of their power, and making a great impact on the people in their lives both personally and professionally.

Drew Deraney was born in Brooklyn, NY and raised in Ho-Ho-Kus, NJ where he still lives to this day caring for his elderly mom and his 3 adult children Matthew, Nicholas, and Emma. Drew earned his B.A. in Psychology, M.A. in Applied Psychology, and two psychology research publications while at Fairfield University; a scholarship from the Healthcare Financial Management Association; and his M.B.A. in Health Care Administration from Baruch College / Mount Sinai School of Medicine in NY. His hospital career spanned 24 years where he was co-chair of the Leadership Institute, spoke at JD Power, was one of three leaders interviewed by The Commonwealth Fund, received his Communicating with Empathy Trainer certification and is a Certified Patient Experience Professional. Four years ago, Drew founded Profit Compassion LLC, an entity to coach and empower mostly men to create resiliency and authenticity as Chief Resilience Officer. Drew is the podcast host of ‘From Caving in to Crushing It’ and recently became a best-selling author with his book ‘I’ll Have What She’s Having’ - Memoir of a reformed People Pleaser.