2013 cpa workshopcorprotect.com/documents/empoweredwealthppp.pdf · we live in a world of abundance...
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© 2012 Empowered Wealth LLC.
2013 CPA WORKSHOP
June 24, 2013 Grand America Hotel Salt Lake City, Utah
Sponsored by corprotect
Family Leadership- the New Estate Planning
© 2013 Empowered Wealth LC.
Gas Prices
Mid-East Violence
Corporate Fraud
Housing Bubble
War on Terror
Weak U.S. Dollar
Social Security
Federal Deficit
The New Economy
Personal Debt
Stagnant Market
China Emerges
www.time.com
Time Magazine 1970-1980
© 2012 Empowered Wealth LLC.
Go BIG! Begin In Gratitude-
© 2013 Empowered Wealth LLC.
We Live in a World of Abundance
Abundance is not something we acquire, it is something we tune into.” …Wayne Dyer
Progress the last 100 years:
© 2013 Empowered Wealth LLC.
Cost of Food ↓10% Cost of Electricity ↓20%
Cost of Transportation ↓100%
Cost of Communication ↓1000%
Source: Abundance: The Future Is Better Than You Think by Peter Diamandis
Progress the last 100 years:
© 2013 Empowered Wealth LLC.
Average Human Life Span ↑2X Average per-capita income ↑3X Childhood Mortality ↓10X
Source: Abundance: The Future Is Better Than You Think by Peter Diamandis
Poverty Redefined In U.S. the number of people under poverty line:
© 2013 Empowered Wealth LLC.
99% have electricity, water, toilet, refrigerator 95% have television
88% have cell phones
70% have a car and air conditioning Source: Matt Ridley of The Rational Optimist, www.rationaloptimist.com
The Earth is running out of water!!
Earth is 70% water
97% of water is salt water
80% of non-salt water is ice
That leaves .5% of all water usable
The SlingShot will process 1,000 liters of water/day @ 2 cents/liter
© 2013 Empowered Wealth LLC.
Energy: We are running out of energy sources!
16 terawatts of energy hit the earth every 88 seconds! Cost of solar energy is now 50% of the cost of diesel.
© 2013 Empowered Wealth LLC.
Moore’s Law: Moore's Law suggests the transistor density of an integrated circuit doubles approximately every 24 months.
© 2013 Empowered Wealth LLC.
New Technologies: Cloud Computing
Sensors & Networks
Robotics
3D Printing
Synthetic Biology
Digital Medicine
Nanomaterials
Artificial Intelligence
© 2013 Empowered Wealth LLC.
© 2013 Empowered Wealth LC.
Twenty-six years from now….
8,192 times more capability!!
Algorithms and Their Effect on the Future
© 2013 Empowered Wealth LC.
Connectivity: 2 Billion people are connected to the internet.
By 2020 Five Billion people connected to the Internet
Source: Abundance: The Future Is Better Than You Think by Peter Diamandis
© 2013 Empowered Wealth LLC.
The Connection Economy the industrial economy will not survive scarcity and abundance have been flipped
we have too many good choices--there's an abundance of things to buy and people to hire.
high-quality work is no longer scarce competence is no longer scarce, either … Seth Godin, The Icarus Deception
© 2013 Empowered Wealth LLC.
© 2012 Empowered Wealth LLC.
12,000,000 businesses owned by baby boomers in the United States
70%+ are expected to change hands in the next 10 to 15 years.
Source: Robert Avery of Cornell University
a “Blue Man” company
a “Siegfried and Roy” company
“The Mirage suffered financially, not just from the loss of $50+ million in annual ticket sales, but from having to forgo untold millions in sales of food, beverages, hotel rooms and the casino's gambling winnings.” … Las Vegas Advisor
© 2013 Empowered Wealth LLC.
“An MGM Mirage spokesman said losing Siegfried & Roy is a bigger hit to the Mirage brand than to its finances, because the entertainers are "practically the faces" of the hotel, and finding a new hotel brand or identity will be difficult.”
… Las Vegas Advisor
© 2013 Empowered Wealth LLC.
The Three Greatest Fears facing affluent families:
1. Loss of Choice and Control…
They want the freedom to make decisions about those things that matter most:
• Business/Investment Opportunities • Personal Growth • Leisure and Passions
© 2012 Empowered Wealth LLC.
The Three Greatest Fears facing affluent families:
2. Wealth Becomes a Negative Influence…
Children and heirs have no motivation No passion No abilities to be productive Subject to “Affluenza”
© 2012 Empowered Wealth LLC.
3. No Empowering Legacy… Their work will end when they do. No system to capture life’s experiences for
future generations. Won’t be remembered. Too busy to focus on what matters most.
© 2012 Empowered Wealth LLC.
The Three Greatest Fears facing affluent families:
Are these fears justified?
The Three Greatest Fears facing affluent families:
© 2012 Empowered Wealth LLC.
Shirt Sleeves to Shirt Sleeves in 3 Generations
Nearly 70% of all family firms fail before reaching the 2nd generation; 88% fail before the 3rd generation; only a little more than 3% survive to the 4th generation and beyond. …. The Family Firm Institute, Brookline, Massachusetts.
© 2013 Empowered Wealth LC.
The 3rd Generation—the “Brittle” Generation
© 2012 Empowered Wealth LLC.
“It has left me with nothing to hope for, with nothing definite to seek or strive for. Inherited wealth is a real handicap to happiness.” - William K. Vanderbilt, grandson of Cornelius Vanderbilt
The Vanderbilts:
© 2012 Empowered Wealth LLC.
Traditional Estate Planning has Become a Game of:
Divide,
Defer,
Dump,
Dissipate…
© 2012 Empowered Wealth LLC.
“It requires a great deal of boldness and a great deal of caution to make a great fortune;
and when you have got it, it requires ten times as much wit to keep it.”
The Rothschilds:
© 2012 Empowered Wealth LLC.
- Nathan Rothschild
© 2012 Empowered Wealth LLC.
They are shifting the way they think about wealth.
The Shift
Copyright Empowered Wealth, LC 2005-2006
© 2012 Empowered Wealth LLC.
Financial
THINGS - your financial and material possessions
Well-being Friends Heritage Character Unique Ability Talents
Core Experience
Systems Ideas Traditions Alliances Skills Networks
•Cash •Real Estate •Stocks, Bonds
We Optimize Family & Business Wealth
•Health •Values (Virtues)
•Education •Experiences •Reputation
Contribution Taxes
Charitable Contributions of Core, Experience and Financial Assets through your Family Foundation
THE Family Empowered Treasury™
THE Empowered Wealth
System™
Re-direct
•Family
•Business
© 2012 Empowered Wealth LLC.
© 2010-2013 Empowered Wealth LC.
We optimize Family Wealth “True” Wealth
“All successful multi-generational family businesses ultimately transition into a business family.” …Philippe de Gaspé Beaubien, founder The Business Families Foundation.
The Tipping Point
© 2012 Empowered Wealth LLC.
The Three Keys of Empowering Intergenerational True Wealth Transfer:
1. A Family True Wealth Philosophy (the Why) Empowered families have a Unifying Vision of who they are; where they are; and where they are going.
© 2012 Empowered Wealth LLC.
2. A Powerful Plan (the What) Empowered families have a Family Leadership Plan that is flexible, empowering and efficient.
3. A Business Family Coach (the How) Empowered families have an experienced coach to bring fresh ideas, motivate and help avoid pitfalls.
Family Leadership- the New Estate Planning
© 2013 Empowered Wealth LC.
we empower families
© 2013 Empowered Wealth LC.
© 2012 Empowered Wealth LLC.
When the business is sold and your client walks out the door… What’s the “next step”?
© 2012 Empowered Wealth LLC.
We protect and empower families that own businesses utilizing concepts and tools that take them to a successful “next step”.
the Smart-Policy Advantage™
We Optimize Business and Personal Life Insurance Products through
Wisdom, Objectivity and Transparency
© 2012 Empowered Wealth LLC.
$ 3 Trillion in Neglected Life Insurance Cash Values - Liability or Opportunity For You?
• Few know what they are being charged or what they are earning
• Largest pool of wealth that’s been neglected by the financial services industry
• Increasing regulatory requirements & fiduciary litigation, these assets can no longer be ignored
www.policylogix.com
Your Clients’ Opportunity with the Smart-Policy Advantage™
A single resource for independent,
objective, and transparent life insurance review.
www.policylogix.com
the Smart-Policy Audit™
© 2012 Empowered Wealth LLC.
Client Benefits: • Average savings 40% • Average increase in benefits 40% • Loose ends tied down • Audit confirms they have a great plan • They are HAPPY no matter what
the Smart-Policy Advantage™
© 2012 Empowered Wealth LLC.
Advisor Benefits: • Strengthens relationship with clients • Potential dollars directly to EBITDA • Increases value of company
Business & Life Insurance
• Buy/Sell Agreements • Key Employee • Disability • Business Valuation • Business Succession • Retirement Funding • Executive Bonus • Business Overhead • Captive Insurance
$3 Trillion Dollar Problem?
• No! It’s a $3 Trillion Opportunity! • Strengthen your competitive advantage -
www.policylogix.com
the Smart-Policy Advantage™
Providing greater business opportunities and protection for you, and greater value for your clients…
© 2012 Empowered Wealth LLC.
We empower families.
© 2013 Empowered Wealth LC.
© 2012 Empowered Wealth LLC.
We help family businesses reach higher levels of empowerment through our 4 step PowerFul Planning Process.
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