Thursday, April 21, 2022

Excerpt Tour: Preserving Wealth by Jack Lumsden, MBA, CFP®

 Preserving Wealth: The Next Generation

by Jack Lumsden, MBA, CFP®


GENRE: Non-fiction (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.


EXCERPT (Exclusive Excerpt):

Uncle Wayne then explained the advantage of paying a mortgage bi-weekly versus monthly. “If you pay your mortgage bi-weekly on an accelerated basis, your mortgage will be paid off in twenty-two years versus twenty-five years, and this saves a lot of interest.”

Mark added, “I’m mortgage-free, and it sure is a good feeling.”

Right about then, David and Alice’s kids came in and asked when Uncle Jack could take them water-skiing. I guess they were tired of babysitting. I can’t recall exactly when I became the designated boat driver for these things, but it had been that way for years.

Uncle Wayne said I could take them now. “We’re finished for today.”

“What about next week?” Sally asked.

Uncle Wayne laughed. “Now that you’re all going to follow my excellent advice and pay off your debts, I want you to redo your Double-O lists. Then I want you to consider seriously which of these three main goals you want your inheritance to achieve:

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? “Decide individually what your priorities are relative to your personal and career objectives, and then we can devise specific strategies for each of you to handle your inheritance.”


AUTHOR Bio and Links:

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.

Please NOTE: 

The publisher is running a Goodreads giveaway in conjunction with the tour: 10 print-copies. Anyone in Canada on Goodreads can enter

Connect with Jack Lumsden

Financial Planning: 

Author website: 



Free download of Preserving Wealth

Get your copy of Preserving Wealth - The book is free from BookFunnel









Jack Lumsden, MBA, CFP® will be awarding a $15 Amazon or B/N GC to a randomly drawn winner via rafflecopter during the tour.


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