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Dave Sheffield

Empowered Wealth, LC
Strategic Consulting

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Salt Lake City, UT 84101
United States

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True Wealth Would you rather be “rich” or “wealthy”? What’s the difference? “Rich” is having abundant financial assets: money, real estate, investments, material possessions, etc. But do you have other assets that you value more than these financial assets? For most people, the answer is “yes”. Most people say that they value their family, or their health, or their spirituality more than financial assets. Empowered Wealth calls these “core” assets. The four Empowered Wealth categories of assets are: Core Assets: your family, health, values and the individual well-being of each family member; Experience Assets: good and bad experiences, education, reputation, networks and the wisdom of each family member; Contribution Assets: contributions made to others; Financial Assets: money, real estate, investments, material possessions. These asset categories are the elements of True Wealth. But True Wealth is more than the assets themselves; it involves the dynamic, ever-changing balance of these assets. It’s True Wealth Optimization. The Empowered Wealth Mindset Seeing the world through the lens of True Wealth, a clarity and focus on what really matters emerges. Thus, unlike traditional planning practices, financial and estate planning based on True Wealth Optimization can focus on all assets, not just financial assets, and leverage gratitude and family leadership as key elements. Lawyers, accountants, life insurance agents, and financial planners have historically focused on minimizing taxes and maximizing the amount of money that passes from one generation to another. Relying on this approach, numerous studies show that by the end of the third generation, over ninety percent of the original family wealth has been dissipated.

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