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!

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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

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"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.**

Goodreads * Amazon *

Barnes & Noble * Book Depository *

Bookshop * IndieBound * Indigo

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EXCLUSIVE EXCERPT:

“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?”

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ABOUT THE AUTHOR:

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.

Author Website * Book Website *

Amazon * Facebook * Goodreads

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GIVEAWAY:

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