Monday, April 25, 2022

Excerpt Tour and Giveaway - Preserving Wealth: The Next Generation by Jack Lumsden, MDB, CFP

Welcome to my stop on the excerpt tour for Preserving Wealth: The Next Generation by Jack Lumsden, MDB, CFP. This tour was organized by Goddess Fish Promotions. On my stop, I have an exclusive excerpt from the book. There's also the tour wide giveaway for a chance to win a $15 Amazon or Barnes & Noble gift card. Be sure to visit the other stops on the tour for more exclusive excerpts. Enjoy!
Title: Preserving Wealth: The Next Generation
Author: Jack Lumsden, MDB, CFP
Publisher: Tellwell Talent
Publication Date: September 20th 2020
Print Length: 148 pages
Genre: Business and Finance
"Toronto-based research firm Strategic Insight projects that approximately $1 trillion in personal wealth will be transferred from one generation to the next in Canada between 2016 and 2026, with roughly 70% of that in the form of financial assets." – Advisors Edge, January 30, 2018

"70 % of Wealth Transfers fail." – The Future of Estate Planning. Trusts and Estates, June 2010

"65% of Canadians say it's likely they will leave an inheritance to their heirs or estate but only 46% of Canadians have a will." – Sun Life Canadian UnretirementTM Index, 2015.

Experts estimate that $1 trillion of inheritances will pass from one generation to the next within a decade in Canada. In addition, many individuals are selling their businesses, resulting in substantial gains. Accordingly, the ability to effectively manage one's wealth and prepare and implement a proper estate plan is no longer just prudent. It's crucial.

Jack Lumsden is an experienced financial advisor who uses an easy-to-read narrative style to clarify financial planning concepts that everyone needs to know. Preserving Wealth explains:

• Investment strategies to provide for growth and protection of capital,

• How to develop an effective estate transfer plan to reduce estate costs and taxes,

• Strategies to preserve wealth and safeguard an inheritance or gift for the next generation,

• How to select an executor, and what to do if you are an executor,

• The critical discussions to have with your family, and

• How to assemble a financial team.

**The eBook is free on BookFunnel.**

“I hope you’ve perfected your golf swings, because the annual Honey Harbour Tournament is next Saturday, and I have entered all of us.

“Meanwhile, here’s my plan for today’s session. First, we’ll talk about the types of investments that can help each of you achieve your financial objectives. Then we’ll focus on protecting your inheritance, and, finally, we’ll look at tax and retirement planning.”

“I have to admit that I’m really getting a kick out of these sessions,” Alice grinned. “I’m actually more interested in this stuff than David, and I’ve been doing a fair bit of research.

“You wanted us to think about priorities for the three main objectives we could achieve with our inheritance, which are:

1. Do you need the cash now to pay off debts or for purchases? (liquidity)

2. Do you need to set up an income plan from the inheritance to fund your current expenses and lifestyle?

3. Is the inheritance earmarked to provide for your future retirement income?

“Of course, priorities depend largely on age and situation. As you all know, David and I are both in our early fifties. Soon we’ll be paying off the small mortgage we still have on our house with David’s inheritance. We’ve established an emergency fund equal to three months’ expenses, and we’ve also decided to set aside enough to cover university for the kids.

“David plans to continue working in the equipment leasing business, where he gets both a salary and a bonus. I’ve been teaching since Scott and Jan started high school.

“Still, we don’t need the inheritance to provide an income for us at this point. Our main goal is growth, because we’re looking to retire in about five to ten years if possible. Those are the facts, Uncle Wayne. How do you think we should invest our money?”
JACK LUMSDEN, MBA, CFP®, is a financial advisor with over twenty years of experience. He has enjoyed building a strong career and loyal client base. In addition to helping clients preserve and transfer their wealth, he focuses on those who are or will be making the transition from their working years to retirement with the need to develop a lifelong income and cash-flow strategy from the financial assets they have accumulated.

A lifelong resident of Burlington, Jack dedicates much of his spare time to staying active and coaching high school football. Spending time with family is another of his core values. He enjoys attending sports events with his son, Connor, and country music concerts with daughter, Paige, while he and his wife, Sandi, like to travel with friends and explore new destinations.

Jack's education includes a BBA from Wilfrid Laurier University (where he met Sandi), and an MBA from McMaster University. He is also a CERTIFIED FINANCIAL PLANNER® or CFP® professional.

Jack Lumsden, MBA, CFP® will be awarding a $15 Amazon or Barnes & Noble gift card to a randomly drawn winner via Rafflecopter. Canadian residents may also enter the Goodreads giveaway to win a print copy of the book. Good luck!

(All the Ups and Downs is not responsible for this giveaway, its entries, or the prize. Goddess Fish Promotions and the author assume all responsibility for this giveaway.)

a Rafflecopter giveaway


  1. Sounds like an interesting book.

  2. this sounds like a very interesting read, thanks

  3. I've had two relatives day recently and neither had a will. It will be months before everything is taken care of. This is a must read for me

  4. Sounds good, thank you for sharing.

  5. A great read - adding it to my read soon list!
    Thank you for sharing this.

  6. Sounds like the book would be full of information.

  7. This sounds like an interesting book and I also like the cover.

    abfantom at yahoo dot com

  8. This sounds like my kind of read and I love the cover too.

  9. The book sounds interesting. thanks.

  10. This book sounds very interesting. Thanks!

  11. I enjoyed the excerpt. Thank you for the giveaway!

  12. “They who dream by day are cognizant of many things which escape those who dream by night.” – Edgar Allan Poe

  13. What part of the book did you have the hardest time writing?

  14. Looks like an interesting book.
    Thanks for the contest. 

  15. “I write entirely to find out what I’m thinking, what I’m looking at, what I see, and what it means. What I want and what I fear.” – Joan Didion

  16. Your book looks amazing, keep up the great work!

  17. Sounds like an interesting book. I like the cover.

  18. sounds like a fun one

  19. sounds like a fun one