How a Poor Kid Built Generational Wealth
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Who is Shawn Phelps and how did he start Rivertree Wealth?
15 years ago, founded a company called River Tree Wealth. We're a private client wealth practice, and we help families, family businesses, entrepreneurs live their best life, really try to help them align their vision, perspective, and direction of what they're doing in their career.
Sean W. Phelps is a wealth advisor, entrepreneur, and the founder of River Tree Wealth. He helps business owners and families build, protect, and preserve their wealth through personalized financial planning, trust in estate strategies, and long-term legacy planning.
So I had a client who owns a lot of rental real estate. He made a major error in his tax situation. We're not tax advisors. Don't give tax advice. But I just asked the question, are you sure you're able to do this? Just the question around that. He was able to call his CPA. We're going to avoid a million dollar tax issue. He would have owed over a million dollars in taxes had we not pivoted around that.
Do you have any advice on how people should live their best life financial wise?
Starts with the three I's.
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Welcome to the Living Your Legacy podcast on Inside Success TV. I'm Angelina and I'm here with Sean Phelps. Hi, Sean. How are you?
Wonderful.
Great. So, Sean, you just filmed your episode with us. How'd it go?
It was an amazing experience.
Yeah.
Very reflective on just 30 years of work and 50 years of life.
Amazing. We're going to reflect some more. So give us the rundown. What did you talk about? What did you highlight in your episode? What do you want to focus on right now in this podcast?
Yeah, honestly, it was a chance for me to just take a pause in the business and think about past, present, and future of where we've been, what we're doing now as a team, and what the future might hold.
Yeah, I think this is a great experience for all of our clients to take a step back and kind of reflect on everything they're doing. And it's really a great opportunity for you guys to kind of start fresh, see where you're at and see what you want to do from here, right?
Yeah.
Cool. So Sean, tell us a little bit about yourself.
Yeah, so Sean Phelps from a little town called Newark, Ohio. If you've not been there, a lot of the locals call it Nurk, Ohio.
Okay.
And started off, was raised by a single mom, myself, my brother Justin, and my mom, Marsha. And grew up, I guess you would call poor, but I never felt it. We always had what we needed. We always had birthday parties. We always went to the park. So just a young kid from the south side of Newark.
Yeah, cool. I think it's really funny to see that you never feel poor until you realize how rich other people really are. You know what I mean?
Exactly.
I could definitely relate to that.
Especially in Miami.
Yeah, yeah, yeah, yeah, for sure. But what are you doing now?
Yeah. So 15 years ago, founded a company called Rivertree Wealth. And now we're a private client wealth practice. And we help families, family businesses, entrepreneurs live their best life, really try to help them align their vision, perspective and direction of what they're doing in their career.
OK, so I know me personally, I want to live my best life. And I think everyone does. Do you have any advice on how people should live their best life financial wise, planning all that good stuff?
Yes. So I think it starts with the three I's.
Okay.
So when we first meet someone, and maybe even working with you someday, where is the ideas, investments, and insurance? How do we put that puzzle together for you?
Okay.
And it usually starts with ideas. So what's your idea of your financial future? Start to think about that. And then we intertwine investments and insurance around those ideas. Cool.
Yeah. All right. So it's kind of like a done for you.
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Chapters
5 chapters
1
Who is Shawn Phelps and how did he start Rivertree Wealth?
0:00–7:30
2
How did growing up in a single‑parent household shape Shawn’s money mindset?
7:30–9:52
3
What services does Rivertree Wealth offer to families and entrepreneurs?
9:52–11:13
4
What is the 'Three I's' framework (ideas, investments, insurance) and how does it work?
11:13–14:19
5
How did a single question help a client avoid a million‑dollar tax mistake?
14:19–14:19
Speakers
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